Small caps round-up: Forbidden Technologies, WSP, Focus Solutions...

4th Nov 2009 14:05

Internet video streaming firm Forbidden Technologies has added ITV and 3SixtyMedia to its list of clients.The company said that its FORScene integrated Internet video platform will be used by 3SixtyMedia for the post-production work on 'The Lakes', a TV show produced by Shiver Productions for ITV.Building engineer WSP reports market conditions remain very challenging and have not materially changed since its half year results in July. Difficult trading conditions remain in most markets in the private sector, while the ongoing and severe lack of liquidity in Dubai has meant that the resolution of old contracts continues to be extremely slow with limited progress to date.Pensions back office software specialist Focus Solutions is confident of achieving both revenue and profit expectations for the full year, although half year revenues will be down on the same period last year due to the timing of securing certain contracts. The group said it will report a profit for the half year, and net cash balances at 30 September 2009 were £2.5m (at 30 September 2008:£2.2m). A new order worth £2m over five years has been signed with a major UK adviser network. Shipping group Goldenport's forward coverage for its containers fleet is 93% of the available days for 2009, 80% for 2010 and 69% for 2011. "As of today, we have secured strong forward coverage for our combined fleet of containers and dry bulk carriers with 94% of the fleet available days for 2009, 67% for 2010 and 49% for 2011 fixed under time charter employment, assuming earliest charter expiration," it added. Egdon Resources' oil revenues last year to July were down to £880,127 (2008: £1,121,624). The loss for period was £83,000 (2008: loss of £2.38m from continuing operations. "In what has been a challenging year of reduced oil prices and regulatory delays which have affected production, we are pleased to report that our target of 500 barrels per day production should be reached by the end of 2009 or in early 2010. We also expect to complete both the EnCore acquisition and the farm-down to Terrain Energy around the end of the year," it said.Mwana Africa is better midweek after the Industrial Development Corporation of South Africa approved the provision of up to $10m debt funding for its Freda Rebecca gold mine in Zimbabwe."The IDC's involvement in the project will allow us to accelerate the implementation of the second phase of our refurbishment programme, which is planned to increase production from the mine to approximately 50,000 ounces of gold per year," said boss Kalaa Mpinga.Aerospace components and fitting out group Umeco reported a 28% drop in adjusted profit before tax for the six months to 30 September to £9.4m on revenue up 1% to £199.6m."Our expectations for the current financial year have not changed since the time of making our Interim Management Statement and we remain confident that our long term prospects are robust," chief executive Clive Snowdon said.Miner Conroy, focused on gold in Ireland and Finland, narrowed its full-year loss to €298,119 from €374,874 in 2008 and remains confident about the future.It's raised €560,000 since the end of the period, which will allow the firm to develop its Clontibret and Clay Lake gold deposits in Ireland."The potential is clear, the possibilities exciting. I look forward to the future with confidence," said chairman Richard Conroy.Indian film group Eros has concluded another multi-film content syndication deal with Rupert Murdoch owned Star Network. The deal with Star comprises of a package of films from the Eros library, new and old.Akers Biosciences, a designer and manufacturer of rapid diagnostic screening and testing products, said that financial performance this year will be substantially below market expectations.The company is waiting on further substantial government contracts for Akers's BreathScan products, but even if these materialise now, there is not enough time left in the year for Akers to make enough units to hit market expectations for the current year.Drug device combination products developer Biocompatibles said sales were ahead of expectations in the third quarter, which should mean full year revenue will be towards the top end of market expectations.The company lifted its revenue guidance as recently as 26 August to a range running from £24m to £26m. On the same date the company said it expected net funds at the end of the year to be £28m, but Biocompatibles now expects to beat this figure after rececing a £3m milestone payment from Esai in September in relation to the licensing of Biocompatibles' DC Bead and PRECISION Bead products in Japan.AIM listed Ultrasis was more than 10% lower despite posting a full-year profit of £704,000 compared with a loss of £343,000 last time and said it looks forward to further progress in the year ahead.