Small caps round-up: S& U Stores, Panmure Gordon, Silanis ...

24th Mar 2010 14:29

Retail lender S&U Stores upped profits by 9% to £9m last year, as debt quality improved in a 'rigorous underwriting and tight cost control against a background of customer caution'. Revenues were flat at £454.8m.Sales in both divisions rose in the second half of the year, as home credit enjoyed a strong Christmas, and Advantage significantly increased its market share, S&U added. The dividend for the year rises by 6% to 34p.Tanzanite One reports its first official sale of 2010 resulted in a revenue of $1.62m with $ 2.68m in sales to date in 2010.Average overall price increase of 16.5% per carat price since previous sight (November 2009). Some 198,337 carats of rough tanzanite was sold at an average of US$8.17/carat, Tanzanite added.Electronic signature specialist Silanis slipped deeper into the red last year, with a loss of $2m, compared with $0.9m, on revenue of $6.2m down from $7.5m. Cash at the year-end was $13.4m. Even Bentley and Ferrari owners felt the pinch in the recession which meant luxury car dealer H R Owen's sales volumes slipped in 2009, though most members of its dealer network beat internal budget targets.Revenue from continuing operations eased to £125.4m in 2009 from £144.45m in 2008. New car sales slumped to 511 from 720 while coincidentally used car sales in 2009 also totalled 511, up from 348 the year before. Profit before tax from continuing operations climbed to £6.16m from £1.44m in 2008 after the company banked an exceptional gain of £7.49m from the early surrender of its property lease in Wandsworth. The board has proposed a final dividend of 2p. Metalrax, the niche supplier of specialist engineering and consumer durables products, saw losses before interest and tax from continuing operations widen to £2.7m in 2009 from £1.0m in 2008. With discontinued operations included, the 2009 loss was £10.6m, compared to £14.5m the year before.Revenue from continuing operations slumped to £61.2m from £72.3m the year before, reflecting the economic downturn in most sectors in which it operates. 'We are optimistic that we can meet the market's expectations for this year's trading,' said Stephen Boyd, chairman of Metalrax.Stockbroker Panmure Gordon's expansion into the US has not worked out so well though the company claimed it is seeing signs of improvement Stateside.Net revenue in 2009 grew to £50.9m from £42.1m in 2008, buoyed by a strong performance from the UK operations. Meanwhile, net commission and trading and investment banking revenue from the US was down 17% in dollar terms.The adjusted loss before tax narrowed to £3.1m in 2009 from £9.2m in 2008. The statutory loss of £11.1m was substantially narrower than 2008's loss of £28.1m.