UK SMALLCAP ROUNDUP: Halfords Sees FY11 Earnings Growth

10th Jun 2010 09:30

Dow Jones smallcap news is now on Twitter, allowing you to catch up on the news away from your desk. Go to http://twitter.com/DJ_UK_Smallcaps HALFORDS GROUP PLC (HFD.LN) Thursday predicted further earnings growth this fiscal year, in spite of continued tough trading conditions, as it posted a surge in pretax profit for the year ended April 2. The U.K. automotive and leisure products retailer added it won't use acquisitions as a way of re-entering Europe and other overseas markets, and its focus is very much on domestic opportunities. "We're not taking our international plans off the stove totally but it's very much on the back-burner," Chief Executive David Wild told journalists on a conference call. At 0735 GMT, shares +15.2 pence, or 3%, at 515 pence. BETTER CAPITAL LTD. (BCAP.LN), a Guernsey-incorporated investment company, said it plans to raise up to GBP67.6 million through a share placing and move from London's junior Alternative Investment Market to the main market. Better Capital, which was founded by Alchemy Partners founder Jon Moulton and joined the Alternative Investment Market in December, said the placing and open offer will comprise up to 64,380,952 new shares at a price of 105 pence a share--a 5% discount to the closing price of 110.5 pence Wednesday. At 0736 GMT, shares flat at 110.5 pence. HARGREAVES SERVICES PLC (HSP.LN), a minerals and support services group, said it is no longer planning to pursue a merger proposal with coal producer UK COAL PLC (UKC.LN). The firms announced in May that they were in "very early" merger talks. At 0736 GMT, Hargreaves' shares +15 pence, or 2.4%, at 650 pence. UK Coal shares -2 pence, or 4.8%, at 39.5 pence. WINCANTON PLC (WIN.LN) reported a significant fall in fiscal 2011 pretax profit, hit partly by higher financing and restructuring costs, but said it was cautiously optimistic for the current fiscal due to encouraging customer volumes. The haulier, which offers services like transport consultancy, said it was cautious on the economic outlook but is targeting an improvement in underlying performance for the fiscal 2011 and a return to growth. At 0737 GMT, shares +2 pence, or 0.9%, at 227 pence. PREMIER FARNELL PLC (PFL.LN) said it is confident of year-on-year sales growth in 2011 after first-quarter pretax profit more than doubled on year. The international electronic products distributor said the "very positive momentum" in sales in the first quarter accelerated in all of its distribution businesses in May, with group sales growing almost 30% on year. At 0737 GMT, shares +22.8 pence, or 10%, at 242.4 pence. SILVERDELL PLC (SID.LN) reported a swing back into the black for the first half and said it is confident for the rest of the year due to its growing order book. The asbestos removal company said its order book totaled GBP60 million at March 31, up from GBP57 million at the end of October, with GBP20 million of that booked for the second half of 2010. At 0738 GMT, shares +1 pence, or 12%, at 9.3 pence. DAISY GROUP PLC (DAY.LN) announced it has bought mobile handset provider Fone Logistics Ltd. for GBP3.6 million in cash, a move it said will increase its competitive position and bring more opportunities to the company. The business telecommunications provider--which earlier this month signed a GBP75 million three-year banking facility to fund more acquisitions--said it expects to get significant operating synergies from the deal. At 0738 GMT, shares flat at 96 pence. BEGBIES TRAYNOR GROUP PLC (BEG.LN) said it has acquired a Manchester-based insolvency practice Tomlinsons to bolster its presence in the northwest of England. Financial details weren't provided. At 0739 GMT, shares flat at 59.5 pence. DJ UK Smaller Cos -0.5% AIM -0.2% -By Rachael Gormley, Jason Douglas & Hannah Benjamin, Dow Jones Newswires; +44 (0) 20 7842 9272; [email protected] (END) Dow Jones Newswires June 10, 2010 04:30 ET (08:30 GMT)