Small caps round-up II: Teleset Networks, Andrews Sykes, Petrolatina...

30th Sep 2009 12:56

Russian fixed line telecom operator Teleset Networks said the weakness of the Russian ruble against the US dollar disguised a strong performance in the first half of 2009.Profit before tax edged higher to $6.46m from $6.37m on revenue that grew to $15.13m from $14.75m. Operating revenue in Russian rubles (RUR) grew by 43% to RUR 502m from RUR 351m in the first half of 2008.The number of the company's broadband subscribers grew by 32% to 34,600.Air conditioning and pump hire group Andrews Sykes has come baxck down to earth after a record year in 2008. Revenue in the first half of 2009 dropped to £28.77m from £33.9m a year earlier as customers cut back on spending in response to the recession, with the air conditioning division particularly hard hit.The company expects its air conditioning business to return a satisfactory performance over the full year despite expectations of a red hot summer proving misplaced. Profit before tax slipped to £6.5m from £8.47m. The company expects results for the second half to be also lower than the corresponding period of last year.Latin America-focused oil and gas company PetroLatina Energy has announced a maiden interim profit before tax of $99,000 versus a $408,000 loss in 2008 on revenue steady at $4.5m.'With the drilling of at least eight wells planned for 2009 and a 100% success rate achieved for the six wells drilled to date, we are on track to deliver significantly increased production and reserves,' said executive chairman Luc Gerard.Marketing and publishing group Totally turned a £78,000 interim loss last year into a £40,0000 profit in the six month ended 30 June 2009. Turnover rose 6% to £0.86m.'I am confident that the group will have a strong trading performance in the second half of the year,' non-executive chairman Michael Sinclair said.Akers Biosciences made an adjusted loss before tax of $335,586 in the first half of 2009, up from $251,008 a year ago, while the absence of a US government contract win had revenue down at $1.18m from $3.43m. But Killik Capital is still positive on the stock as the company remains cautiously optimistic that its BreathScan alcohol test will be a major revenue generator going forward. Aurelian Oil & Gas, which has interests in Romania, Poland, Bulgaria and Slovakia, made a gross profit of €342,000 in the first six months of this year, but it lost €694,000 after exploration costs and administrative expenses.The firm had €13.1m cash in hand as at 25 September, enough to fund its exploration programme until the end of 2010 on a dry well basis. It said the next stage in the development of Siekierki gas project in Poland will require further funding.