Small caps round-up: Styles & Wood, Hydrogen, Travelzest...

14th Jan 2010 09:53

Shopfitter Styles & Wood has been kept busy by projects for retailers such as the grocers Waitrose and Morrisons and the banks Barclays and Lloyds TSB and expects profits for the year to December 31 to be in line with expectations. Specialist recruitment group Hydrogen said it is well positioned for the year ahead after the modest improvement seen in some sectors at the start of the second half of 2009 continued.UK and Canadian travel operator Travelzest posted a profit of £719,000 in the year to 31 October, compared with a loss of £4.9m the previous year, even as revenues fell to £38.3m from £44.3m.The firm, which underwent a major restructuring programme, said it is cautiously optimistic about our markets for the next 12 months.Hotel, office and retail group MWB said it saw improvement at its Malmaison and Hotel Du Vin hotel chains, a period of consolidation and integration at the office division and higher customer numbers and market share at the Liberty department store in the second half of 2009.Faroe Petroleum has extended its 500m Norwegian kroner revolving credit facility with the Bank of Scotland. 'The extension of this facility ensures that Faroe Petroleum will continue to leverage Norway's state contribution towards exploration and appraisal expenditure, through its constructive tax regime,' said Graham Stewart, chief executive of Faroe.Exploration focused companies in Norway recover 78% of exploration and appraisal-related expenditure in the following tax year.Lower levels of activity in the construction sector continued to hit architect Aukett Fitzroy Robinson last year.The company fell into the red in the year to 30 September 2009, with a loss before tax of £1.88m versus a profit of £2.42m the year before. Revenue slumped to £14.95m from £22.60m.On the bright side, the value of the current order book improved during the course of the year by £1.73bn. The full year dividend was lifted by 10% to 0.11p from 0.10p the year before. Media services group Avesco claimed it is seeing some sign of stability after a year which saw it plunge into the red.The company made a loss before tax of £13.16m in the year to 30 September 2009 having made a pre-tax profit of £6.66m the year before. Revenue slipped to £90.2m from £94.82m the year before. The company has not paid any dividends in respect of fiscal 2009.Oil and gas exploration and production company Oilex continues to update shareholders on its attempts to circumvent problems at the Lolotoe-1 well in the Timor Sea. The original open hole well bore was abandoned and a sidetrack hole successfully drilled. The well is now running intermediate 9.625" casing on the sidetrack. Once the casing is set, the plan is to drill ahead to evaluate the primary objective Elang/Plover Formation sandstones to a total depth of approximately 3,985 metres.Camera peripherals specialist Vitec expects profits for 2009 to be marginally ahead of current market expectations, despite continued challenging market conditions. Vitec added that despite uncertain market conditions its expectation of trading performance for 2010 is unchanged. Satellite operator Avanti Communications has signed a €665,00 five year contract with EDDI SRL of Italy for capacity on HYLAS 1. EDDI are already a wholesale customer and are thus extending the scale and duration of their commitment, Avanti said.