Small caps round-up: Gooch & Housego, Pinnacle Telecom, Clyde Process Solution

13th Jul 2010 10:52

Shares in Gooch & Housego jumped after the optical components and systems maker upped its expectations for revenues and profits for the year ending 30 September.Investors cheered news that Pinnacle Telecom has been awarded a £750,000 one-year contract to supply integrated telecommunications for Grass Roots Group.Shares in Clyde Process Solutions climbed after the provider of equipment for handling materials such as metals, cement and chemicals said it had been awarded a £1m contract to provide services to a US producer of polyvinyl chloride. Shares in Intellego climbed more than 25% after the training consultancy announced the launch of a library of workbooks in conjunction with money marketing magazine.Veterinary and farming supplies company Animalcare said earnings are expected to be slightly above market expectations as revenue for the year ended 30 June 2010 was approximately 15% more than the same period last year.Greek shipping company Goldenport raised approximately £23.5m through the placing and open offer of 18.4m new shares at an issue price of 127p per share. Builders merchants Grafton said turnover for the half year was around €980m, slightly lower than the turnover of €990m in the first half of 2009. As expected, operating profitability in the period was ahead of last year.Seeing Machines, a leading developer of advanced vision based industrial systems, perked up after it said that a production license for its API tracking software suite has been bought by US firm Pillar Vision Inc.Thailand focused oil exploration and production company Coastal Energy has been encouraged by the initial test results at its Bua Ban wells. "Production from the A-05 well is higher than was anticipated in the original development plan. The new Miocene play seen in the A-03 well is exciting as it is the first time that productive Miocene sands have been encountered in Block G5/43. This discovery has significant potential for future appraisal and development," said Randy Bartley, chief executive officer of Coastal Energy. The cmpany's total offshore production is now about 11,000 barrels of oil per day (bopd). Total combined production, including 2,000 barrels of oil equivalent per day (boepd) from Sinphuhorm, is about 13,000 boepd.Wave energy technology company Ocean Power Technologies is higher after reporting a 26% increase in full-year revenue to $5.1m, reflecting an increase in sales to the US Navy under the Deep Water Active Detection System and LEAP programs.The net loss for year ended April 30 grew to $19.2m from $18.3m in 2009, due mainly to $13m of costs incurred in its product development programs.Indian Energy, which owns wind farms in India, saw its adjusted loss before tax for the year ended 31 March rise to £2.16m from £1.41m in 2009.Separately, it has entered a new £2m loan facility with Utilico Emerging Markets Limited.