Small caps round-up: Headlam, Henry Boot, IQE...

20th Jan 2011 14:07

Floor coverings distributor Headlam expects 2010 earnings to be marginally ahead of market expectations, after group revenue improved by 0.4% on the previous year. In the UK, like for like (LFL) revenues rose by 0.4% from a year earlier but the continental European businesses saw a 0.7% decline in LFL sales.Property developer Henry Boot is still trading in line with management expectations and revenue for 2010 is forecast to come in at around £128m with underlying profit matching estimates."In the short term, the board remains focused on maximising the returns from the group's businesses whilst continuing to manage debt levels prudently, "the firm said Thursday. "Selectively, profitable development opportunities are now beginning to emerge and over 2011 and 2012, we hope to begin to reinvest resources back into these areas of activity."Strong growth during the second half means IQE, a provider of wafers to the semi-conductor industry, has made record revenue and profits for 2010, ahead of expectations.Revenues for the final six months of last year are expected to be more than 17% higher than the first half and up 36% for the year to "at least" £71.7m.Earnings before interest, tax, depreciation and amortisation (EBITDA) should be u over 56% to £12.6m or more compared with consensus market forecasts of £11.9m.Safestore is at a nine-month high on news that Bridgepoint has sold its remaining 17.9% stake in the self-storage firm for 135p a share."The disposal will enhance liquidity in Safestore's shares and we welcome the support from our existing institutional shareholders as well as new investors," chairman Richard Grainger said.Online banking software firm Parseq says full-year results are broadly in line with forecasts, but warns that profits for the current year are likely to be lower than forecasts.The firm, which predicts revenues for 2010 of about £17m and operating margins over 20%, blamed its "cautious" outlook on additional investments in sales and IT, continued delays in clients' decision making cycle as well as a changing mix in products and services.Edinburgh New Income Trust's net asset value per ordinary share rose 12.4% to 60p in the six months to 30 November and by 19.2% on a total return basis compared with an increase in the FTSE All-Share Index of 8.6%. "The portfolio retains exposure to high-quality companies, with strong competitive positions and healthy financial characteristics and we continue to believe that these attributes are the best way to ensure good performance," the trust said. But it's only five months to the winding-up date of 31 May and the company is already considering options for those shareholders who wish to continue their investment beyond that date.