Small caps round-up: Sterling Energy, SnackTime, LSL Property Services

7th May 2010 18:44

Oil and gas exploration company Sterling Energy said adjusted earnings before interest, tax, depreciation and amortisation totalled $2,1m in the first quarter of 2001. The company made a loss after tax of $1.3m on revenue from oil sales of $4.76m. Cash as at 30 April 2010 of $109.3m.The company said it is making good progress on its Sangaw North #1 exploration well in Kurdistan despite challenging conditions. he well is expected to reach its target depth in the third quarter of 2010. Vending machine operator SnackTime expects profit before tax for the year to 31 March 2010 will be in line with market expectations. In the current financial year the company's operated and franchised divisions are expected to show continued strong growth. Residential property services provider LSL Property Services is acquiring the assets of Home of Choice from its administrator for £1.5m. Home of Choice is a multi-tied specialist mortgage network provider to approximately 500 self employed mortgage advisers. This will increase the lending handled through LSL to £4bn a year. Management had been trying to sell Home of Choice before it went into administration at the end of April. The company failed to extend its overdraft.