Small caps round-up: Judges Scientific, Media Corp, Omeda Diagnostics...

17th Nov 2010 14:31

Scientific instruments designer Judges Scientific revealed that trading has continued to be "favourable" and adjusted earnings in respect of 2010 are likely to exceed current market expectations. Additionally, gas purifier and calibration equipment provider Sircal Instruments, acquired in March, has been performing strongly, in line with expectations. Advertising network and gaming operator Media Corp has reported a "transformational year" with record growth reflecting a significantly improved financial performance. Revenues for the year ended September stood at £25.6m, a 730% increase from £3.5m last year which saw challenging trading conditions. The group's loss in earnings before interest, tax, depreciation and amortisation was reduced to £0.6m, from £2.4m previously, while cash balances increased to £2.2m from £1.7m. Chief executive officer Justin Drummond added that "the new financial year has started well with growth across the group and the board looks forward to the continued recovery in 2011". The medical diagnostics company Omega Diagnostics has announced the acquisition of the in-vitro (lab-based) diagnostics business (IVD) of German allergy group Allegropharma for €6m (around £5m). The acquisition is expected to allow Omega to develop testing through an international network in the "mainstream allergy testing market".The group has raised £7.75m through a placing of 64,583,350 new ordinary shares at 12p each to satisfy the consideration for the acquisition.Oil and gas explorer Regal Petroleum has announced the "shut-in" of its operations at its MEX-GOL and SV fields in Ukraine. The group considered it prudent to commence the action after a long battle with the Minister of Environment Protection that has suspended its operations since May in relation to Regal's compliance with "certain legislation" in the country.