Small caps round-up: Volex, Horizonte Minerals, Mountfield...

27th Jul 2010 10:58

Power products specialist Volex said it is confident it will meet or exceed full-year guidance for the 12 months to 3 April 2011 after trading momentum established during the last financial year continued. Horizonte Minerals shares returned from suspension today after the company agreed to pay Teck Resources around £7.5m for the Canadian miner's Araguaia nickel project in the Carajas region of Brazil.It will merge Araguaia with its neighbouring Lontra project, creating a 100 million tonne resource with grades comparable to other world class projects in Brazil.In return, Horizonte, which has also raised £5.1m from a placing at 10p a share, will hand Teck a 50% stake in the enlarged company, worth about £7.5m.Construction outfit Mountfield is on the up following Onslow Property Group's decision to name it preferred building contractor for a number of contracts.The owners and developers of SnOasis in Suffolk, the world's first indoor winter sports resort, will offer the firm the chance to negotiate and undertake building contracts worth a "substantial" amount.Marketing company Media Square leapt to a four-month high Tuesday after making a cumulative headline operating profit of over £400,000 in the first four months of its financial year.The group, which made a loss of £1.3m at the same time last year, put the improvement down to the sale or closure of loss-making agencies, cost-cutting, and a "modest" increase in client spending. Animation production and distribution company DQ Entertainment is set to "ride on the global and Indian animation and media industry growth," its chairman and chief executive officer Tapaas Chakravarti claimed.Chakravarti claimed the company had remained "remarkably resilient" in a year in which group revenue rose to $36.76m from $32.25m the year before. In the year to 31 March profit before tax advanced to $6.46m from $5.15m a year earlier. The order book at the end of the reporting period at $136m.Morson said trading in the first half of the financial year has been in line with expectations. "Whilst our trading environment has remained challenging and is expected to remain so, the strength of the Morson business model, which has seen the Group through many economic cycles, has resulted in good customer retention and new business wins," the group said.Speciality pharmaceutical company IS Pharma said trading in the second quarter of 2010 was in line with expectations and better than the second quarter of last year. "The market for speciality pharmaceuticals and medical devices is growing and IS Pharma is increasingly well placed to benefit from this trend," the company said.Machine to machine (M2M) wireless technology group Telit Communications said its Telit Wireless Solutions subsidiary has entered into an agreement with Orange Business Services to distribute the latter's complete range of M2M solutions on the French market.