Small caps round-up: Fletcher King, Brulines, BowLeven...

15th Jul 2010 09:03

Property manager Fletcher King posted higher profits for the year against last year, which was weighed down by exceptional costs. Pre-tax profit came in at £406,000 against £1,000 last year on revenue that fell to £2.8m from £3.1m before."The coming year is likely to be challenging. Fund and Asset Management together with Rating is strong. We are also working for a number of new clients and have more transaction business in the pipeline than in the previous two years which will hold us in good stead," said the group.Brulines, petrol pump and beer flow monitoring firm, said trading in the current year has been in line with management's expectations. The group said its leisure division has benefitted from high levels of recurring revenues, further i-draught installations in the UK and overseas, and encouraging commercial progress with its Vianet vending telemetry solutions.West Africa-focused oil and gas explorer BowLeven has found oil and gas at the IE-3 appraisal well in the MLHP-7 Block offshore Cameroon.Results indicate gas condensate in the upper Isongo sand, while logging and sampling of the deeper secondary objectives have identified further "potentially significant" multiple stacked reservoirs containing light oil and gas condensate pay."Further evaluation is required, including testing, but the results to date are promising in the context of the IE field development area and for our Cameroon acreage as a whole," said chief executive Kevin Hart.EMED Mining has started its 2010 exploration drill program at the 100%-owned Banska Stiavnica and Hodrusa exploration licences in central Slovakia. "The combination of extensive historical mining data and modern exploration tools provides an exceptional opportunity for EMED Mining to make another significant discovery of economic mineralisation in central Slovakia," said the firm which is testing for epithermal gold mineralisation.Carbon credit specialist Camco is off the pace following delays to the US roll-out and to carbon project registration.New advisory contract wins worth £3.5m in fees have moved the advisory business firmly into profit, but changes in the UN Executive Board issuance and registration procedure are holding things up short-term.In Specie contracted volumes fell during the first six months of 2010, and there could be a further reduction of 1.5 million tonnes from the In Specie portfolio if the hold-ups persist.KBC Peel Hunt has slashed it target price to 22p from 34p to adjust for the 12.7p a share movement in fair value of the cash and carbon portfolio.Managed Support Services, a provider of compliance and technical building services, has won a three year contract extension with one of its largest planned maintenance customers, Bruntwood.Annualised planned maintenance revenues have been worth about £0.5m, excluding additional variable spends and refurbishment work. Shares in 32 Red jumped after the online casino group reported a sharp rise in revenues in the six months to June 30, to £7.3m from £5.8m over the same period the previous year, as a jump in casino revenues offset lower poker and bingo sales.Shares in Australasia-focused online marketing group Asia Digital jumped after it said it will see positive earnings before interest, deprecation and amortization for the six months to June 30 (EBITDA) helped by improved sales and a reduced cost base.Blinkx, the world's largest video search engine in terms of indexed content, has seen another sharp rise in its share price after announcing that electronics giant Samsung will use an app Blinkx has developed for its Galaxy S handset.