Small caps round-up: MKM, Heywood Williams, Datong ...

1st Oct 2009 11:09

Marketing firm MKM saw losses soar in the year to March 31 as the economic turmoil hit its Australian operations, forcing the firm to discontinue its activities there.Pre-tax losses totalled £914,000 compared with £3,000 the previous year. Revenue fell to £3.75m from £3.8m.Shares in door and window maker Heywood Williams slumped after it announced a restructuring programme that will see it swapping £21bn of debt for equity and delist its shares from the London Stock Exchange.Following the restructuring, the banking syndicate with which it agreed the deal, will own 80% of the company, with shareholders owning 10% and the remaining 10% in the hands of executive management and other senior management.Datong, which provides systems to help government agencies gather information on terrorism and organised crime, is leading the electronic and electrical equipment sector higher after saying it has performed well despite tough economic conditions.Media services specialist Avesco has had a quiet summer and now expects results for the year to 30 September 2009 will be 'substantially' below market expectation.'Although early action was taken to reduce staff and other discretionary costs, this reduction was insufficient as revenues declined faster than budgeted,' it said. 'We have won significant new business but this success has not compensated for the underlying reduction in business activity, in particular, in the corporate sector.'But the business hopes for a better 2010, with the Winter Olympics in Vancouver, the World Expo in Shanghai and the FIFA World Cup in South Africa expected to have a positive impact.Property services group Veris has agreed to sell its property management and facilities management business for €50.8m and wind down the company. The business is being purchased by Aramark Ireland Limited and Aramark Investment.After the repayment of debt and other expenses Veris shareholders should expect to receive around €0.55 per share, allowing shareholders to realise their investment for cash 'at a time when investor interest in and support for smaller quoted companies has declined and at a time of continued volatility across global equity markets,' the company said.Speciality pharmaceutical firm IS Pharma traded in line with the board's expectations in the six months to the end of September, with the development of the company's international business remaining on track.Logistics group Interbulk expects its full year results, excluding exceptional items, to be in line with market expectations. 'Business sentiment has seen signs of improvements recently, but due to the expected slow recovery of the demand and overcapacity in the overall logistic resources we believe the next year will remain challenging,' said chief executive Koert van Wissen. Telecoms services group Spiritel cut losses to £1.7m £4m loss), after deducting non-cash finance charges of £0.8m (£3.1m)in the year to April. 'While the Business Division has continued to perform in line with expectations, trading remains challenging for the Technologies Division and we do not foresee a significant turnaround in its core wholesale markets' it said.Carbon trader Trading Emissions' NAV came in at 150.45 pence per at 30 June 2009. Loss per share of 83.8p (2008: profit per share 70.3). Cash stood at approximately £150.25m or 59p per share on 1 October. A final dividend of 3p per share will be paid in January 2010.