Small caps round-up: Hill & Smith, Innovation, BlueStar...

17th Aug 2009 09:37

Infrastructure and construction products group Hill & Smith reported a 1% rise in first-half pre-tax profit to £20.2m, while revenue was down 7% at £196.8m.The dividend increased to 4.7p per share compared with 4.3p last time.'Whilst the extent to which these signs of improvement are maintained in the second half is difficult to predict, our results for the year will nevertheless benefit from the cost reductions already in place, lower interest costs and the actions taken on the rate of taxation,' said chief executive Derek Muir.'The group has strong positions in broadly resilient markets, increased geographical representation and a sound financial position, all of which will help in dealing with the current economic conditions and to capitalise on any sustained improvement.'Innovation Group, which provides business process outsourcing, supply chain management and technology solutions primarily to the insurance industry, has won a contract with Ellipta to support its new property claims system. Innovation Group and its Canadian partner, Symbility, will integrate their end-to-end claims management software, Innovation Symbility, with Ellipta's new 'ClaimSpec' property damage system.Digital video surveillance solutions provider BlueStar SecuTech has signed a new contract with the China Construction Bank's Inner Mongolia region worth about RMB 14m (£1.4m) which is expected to be completed by the end of October 2009.Michelmersh Brick Holdings, whose bricks were used to build London's new St. Pancras rail station, is to launch a terracotta production business.Stockbroker WH Ireland said it remains cautious despite the recent market rally as it posted a 6% rise in turnover in the six months to 31 May.The firm cancelled its interim dividend even as it posted a smaller pre-tax loss of £523,000 compared with £736,000 over the same period the previous year.Kewill rallied after the software and solutions provider said Nokia has chosen Kewill's Service Logistics Solution (SLS) to enhance their return and repair operations globally. As part of this multi year agreement Kewill will supply Nokia with a hosted (Software as a Service) solution, the group added.Investing company Brinkley Mining saw losses sharply reduced in the first half of 2009. Loss before tax narrowed to $0.67m from $10.84m a year earlier when the company took a $9.8m impairment charge. Cash at the half-year stage stood at £6.8m.Plant Health Care, the natural plant supplement supplier, is adding of its products to the growing line of the Scotts Company's growing line of natural retail lawn and garden products. Plant Health Care's natural biologically enhanced fertilizer is scheduled to be available to consumers in selected markets at Scotts' shops in 2010. Oil and gas exploration Meridian Petroleum said the initial indications from its 3D seismic survey of the PEL 82 licence in the onshore Otway Basin, South Australia, point to an appreciable increase in the prospects for hydrocarbon discoveries.'Whilst further analysis of the data needs to continue, there is now a focus on developing the drilling plan, in conjunction with potential partners and the South Australian authorities,' said the company's chairman, Stephen Gutteridge.Australasia-focused gold and copper miner Solomon Gold said drilling programmess totalling an initial 2800 metres are currently being planned, based on the recently collected geochemical and geophysical data. Since its last update in mid-June the company has focused its field activities in the Chikora area of the Koloula Valley on the Solomon Islands. Detailed mapping, sampling and trenching has continued on the Levisivisi and Vurakara and related local prospects, Kolotolaka, Inamumu, Koloesoeso and Kolokangai, the company said.Beauty products supplier Creighton said it incurred losses in the first quarter as its financial position has deteriorated since its last published statement in March.The group said sales in the first quarter of the financial year has been lower than the same period in previous results, due to a significant further weakening of consumer off-take and lower demand from its main customers.Westmount Energy surged after it subscribed for 42m shares in Sterling Energy in the proposed placing of Sterling shares at the placing price of 1.3p per share."We believe that the substantial amount of cash being raised by Sterling and the introduction of a new major shareholder whose management have a proven track record in the oil industry will be of great benefit to Sterling," said Westmount chairman Mervyn Bradlow.