Small caps round-up: Forbidden Tech, MediLink-Global UK, Conexion Media...

27th Sep 2010 11:30

Forbidden Technologies' pre-tax loss for the first half ended 30 June widened to £57,758, from £25,697 for the prior-year period. Additionally, loss per share more than doubled, from 0.03p last year to 0.07p for this half year.Operating costs were up 37% to £214,730 on last year's results due to higher investment in advertising and marketing, along with its effort to establish their presence in the US.However, the web-based video platform developer announced a 21% increase in sales to £169,858 for the first half, compared with £138,774 the year before.MediLink-Global UK have announced a 14% increase in revenue to £0.77m (2009: £0.67m) for the first half of the year, mainly due to its expansion and growth in China and Singapore.Also, the group's pre-tax losses narrowed to £0.34m, down from £0.45m last year, with loss per share falling from 0.43p to 0.32p."The foundations have now been laid both in terms of infrastructure and clients to act as a base for the expansion of our subsidiaries to generate sufficient revenues to move towards profitability in the regions in which we operate," MediLink chairman Norman Lott said.Entertainment and media group, Conexion Media, has narrowed its pre-tax losses for the first half (ended 30 June) to £0.40m from £0.63m the previous year, despite a lower revenue of £1.4m, compared to £1.7m in 2009. Operating costs were significantly reduced from £1.23m in 2009 to £0.76m this year.As for lower revenue, chairman Brian Scholfield commented that he expects deals with clients such as Comcast, Telenext, and Multivisionnaire "will begin to reverse this downward trend" as the company develops its business in the film and television field "in addition to its traditional music publishing base".Communications technology company xG Technology had zero revenues in the first half of 2010 as it concentrated on demonstrating its existing showcase networks in Florida and Arkansas to prospective partners, industry experts and analysts. In the first half of last year it had revenue of $8.0m.It plunged into the red, registering a net loss of $4.9m, versus a profit of $1.1m the year before. Net cash used for the period decreased substantially, however, from $10.2m in the first half of 2009 to $4.6m in the first half of 2010.The company ended the period with cash and cash equivalents of $0.51m, down from $5.7m at the end of June 2009. Since the end of the reporting period the company received a $1.5m convertible loan from MB Technology Holdings LLC and is in the process of raising capital and, at the same time, is maximising its efforts to earn contracted revenues from a partner that will avoid possible dilution to shareholders. Shares in CareCapital fell after the healthcare real estate developer fell into losses as rental income declined on the back of lower rental income following the sale of its UK portfolio.In the six months to June 30, pre-tax losses totalled £2m, against a profit of £900,000 in the same period the previous year as group rental income declined to £1.1m from £1.6m.The sale of properties 'mean that direct comparison between these financial results and those previously reported does not properly reflect the group's progress,' the company said.Macau Property Opportunities, which develops and invests in properties in Macau and the nearby Pearl River Delta region of mainland China, saw its net asset value jump to 166p on June 30, an 11% increase from the same period the previous year.Chairman David Hinde said this 'reflects the underlying quality of our well located portfolio.'Engineering consultant WYG narrowed losses in the year to June 30 despite lower revenues, as it reduced costs in response to 'very difficult market conditions in the UK and Ireland.'Revenue fell to £220.6m from £261.6m the previous year, but pre-tax losses narrowed to £21.9m from £261.6m.