Small caps round-up: Sweet, 3D Diagnostic, Turbo Power...

6th Aug 2012 10:21

Sweet Group, an international property and infrastructure consultancy, has appointed Colin Bartlett as Senior Director with responsibility for the group's project management service offering across London and the South-east, and Helen Pickering as Project Director within its healthcare team. Bartlett is based in London and has worked with Sweett Group since January 2006. He has 30 years of industry experience and holds a degree in architecture. Pickering has worked with Sweett Group since 2004, and has been involved in many of the group's health sector projects. Shares in 3D Diagnostic Imaging halved on Monday morning after it announced plans to cancel its listing on AIM. The move is part of a cost-cutting exercise which it anticipates will reduce its monthly overhead base to less than £60,000. Turbo Power Systems, an electrical machines and electronic systems provider, has been awarded a contract from Chiltern Railways for the design and manufacture of Static Converter units. The units will replace existing Motor Alternator Sets (M/A Sets) on Chilterns Railways' fleet of InterCity Mk3 coaches. The value of the contract is £0.82m with delivery of the first unit due in 2013 and is scheduled for completion in 2014. The firm expects the units to materially lower maintenance costs as compared to M/A Sets by generating the required electrical supply by means of power electronics and avoiding moving parts. Metal-Tech, a producer and recycler of speciality metals, reported a 32% decline in first half revenue from $29.9m last year to $20.4m, leading to a net loss of $1.1m compared to a profit of $2.6m(including discontinued operations) in the first half of last year. The gross margin declined from 13% to 11%. The loss per share from continuing operations remained stable at $0.03. Cash levels at the period end were $3.4m, compared to $2.9m at the end of 2011. Debt levels were reduced to $16.4m from $20.7m at the same date the previous year and $15.7m at the end of 2011. GETECH, an oil services business specialising in the provision of exploration data and geological exploration studies, has completed a further sale of its Global Programmes, bringing the total number of clients who have made a full commitment to six. The contract is worth more than £0.5m. The aim of the Global Programmes is to provide exploration teams in oil and gas companies with a robust and constantly updated platform which supports their understanding, investigation and risking of new areas of interest. PuriCore, a water-based clean technology company, has posted a 35% increase in revenue to $25.3m (H1 2011: $18.8m), pushed higher by its Supermarket Retail division, where sales were up 71% to $13.0m (H1 2011: $7.6m). Pre-tax losses narrowed significantly from $6.63m to $1.52m. Operating expenses reduced from $18.75m to $25.35m. Cash flow generated from operations was $2.9m (H1 2011: $1.6m outflow), while gross cash at the period end was $4.7m. Avia Health has admitted that it continues to be "cash constrained" in the short term and consequently is exploring a number of viable equity or debt funding options. The statement follows a similar one made one month prior saying it is "subject to adverse trading swings". At that time the firm said it was looking to raise around £1.0m in equity and/or debt funding in the short term. It currently has no debt and is "actively managing its cashflow and creditor obligations" in order to trade through the shortfall. NR