Small caps round-up: ILA, Indus Gas, Minera...

15th Sep 2010 11:42

ILA, which makes personal alarms for women, has won two big orders, one from the department store House of Fraser and one from the Canadian book retailer Indigo Books. But the shares are down nearly 9%.Losses widened at Indus Gas in the year to March 31, but the India-focused oil and gas group has since started production which will lead to a revenue stream.The company posted a pre-tax loss of $1.7m, up from $1.2m previously. Production began at the SGL field in Rajasthan in July.Shares in Minera are shining following the miner's announcement of a gold and silver discovery at its Escondido project in Patagonia, Argentina.Also in mining, African Eagle Resources, the nickel miner operating in Zambia, Tanzania and Mozambique, has received commitments to subscribe to a placing of 88m shares at 3.75p a share to raise £3.3m. The money will be used to continue work on the pre-feasibility study of the Dutwa nickel laterite project in Tanzania and to fund the general working capital requirements.Building services business Northern Bear fell after it announced that it has sold its heating plumbing and mechanical services business DJ McGough to its founders after a review of the business which found that it has been trading at a loss with no certainty of an improvement in trading.1pm, the specialist provider of lease asset finance to small and medium sized businesses, returned to profit in the first quarter of its financial year. In the three months to 31 August the value of new leases was more than fives times that seen in the equivalent period of last year, and significantly ahead of management expectations. The level of new leases has also had a positive effect on the lease portfolio which has grown to £7.71m as at 31 August 2010 (31 May 2010: £6.55m).The company said the strong start to the new year boosts its chances of accessing additional lines of funding which it needs to grow its business.Fund manager Brooks Macdonald lifted interim profits by four-fifths helped by a 50% increase in assets under management. Revenue in the half year to June rose 61% to £35.1m, profits rose 78% to £5.7m and managed funds jumped 57% to £2.2bn."Alongside strong financial performance the group has continued to invest in infrastructure and employees to ensure that we continue to deliver high levels of service and performance to our clients. We are well placed for the rest of the current calendar year and beyond," Brooks added.India Capital lifted NAV by 14.3% in the half year to June, outperforming the BSE Mid-cap index which rose 6.4% in INR terms and 14.0% on a Sterling adjusted basis. Net assets rose to 68.1p from 59.6p.Health products supplier Wm Ransom's revenue for the year to March was £30.2m, £2.3m lower than the prior year revenue of £32.5m. The company made an operating loss before exceptional items of £0.5m (2009: loss of £1.9m) and an overall operating loss of £12.2m (2009: loss of £1.7m). Pre-tax losses were £12.6m."The company is more stable financially and underlying performance continues to improve. However uncertainties remain taking into account the continuing difficulties in the economy with reduced consumer spending power," it said. Public transport surveillance camera group 21st Century Technology attributed a 6% increase in like for like sales in the first half of 2010 to the success of its EcoManager product, which saw sales rise 20% from the first half of last year.Profit after tax rose 48% to £0.3m from £0.2m the year before on revenue that rose 6% to £5.6m from £5.3m. The company had net cash at the end of the reporting period of £0.2m, compared to net debt a year earlier of £0.8m.Specialist information technology (IT) recruitment group Interquest saw a return to growth in the majority of its markets last year, with a rise in private sector placements, particularly in banking and financial services, more than offsetting a decrease in public sector activity. Revenue in the first half of 2010 rose to £55.3m from £49.2m a year earlier, while profit before tax broker through the million pounds barrier to £1.06m, up from £0.91m the year before. The company is paying a dividend of 0.5p. Fund management group Syndicate Asset Management said the underlying improvement seen in the first quarter of the company's financial year has continued into the second quarter.Profit before tax in the first five months since 31 March has been well ahead of last year and has exceeded management's expectations, as the benefits of the recent restructuring programme feed through.