UK SMALLCAP ROUNDUP: HMV Strategy On Track Amid Record Sales

30th Jun 2010 12:30

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 HMV GROUP PLC (HMV.LN) Wednesday said its strategy of diversifying its business away from CDs and DVDs remains on track, although the CD market didn't decline as much as it had expected in fiscal 2010. It posted a rise in fiscal 2010 pretax profit, driven by a record sales performance, although its overall result was dragged down by a weaker performance at its Waterstone's bookstore chain. At 1045 GMT, shares +4 pence, or 6%, at 60 pence. NORTHGATE PLC (NTG.LN), a van rental company, Wednesday said it will continue to increase its rental rates and finish restructuring its U.K. operations in an effort to grow earnings, after raising rates and trimming its fleet helped it swing back to a fiscal-year profit. At 1045 GMT, shares +19 pence, or 12.6%, at 172 pence. SCOTT WILSON GROUP PLC (SWG.LN), a U.K. engineering consultant, Wednesday said its board will give its recommendation to shareholders on the company's bidding war Thursday after the U.K. Takeover Panel set a deadline for a revised offer from U.S. firm URS Corp. (URS). URS must confirm to Scott Wilson by 1600 GMT Wednesday that it intends to match or improve upon CH2M's cash offer for Scott Wilson or the Scott Wilson board can withdraw its recommendation for the URS Offer. Either way, URS must also confirm its intentions by no later than 0630 GMT Friday. At 1045 GMT, Scott Wilson shares -1 pence, or 0.3%, at 260 pence. FUTURA MEDICAL PLC (FUM.LN), a pharmaceutical company, has signed a deal with GlaxoSmithKline PLC's (GSK.LN) consumer healthcare unit to develop a painkiller. GlaxoSmithKline will be responsible for the clinical and regulatory development of Futura's TR100 and Futura will receive "modest" annual payments, the company said. It wasn't more specific. At 1045 GMT, shares +2 pence, or 4.3%, at 43 pence. CHORION PLC, a privately-held media company, said it plans to exploit its brands across newer platforms like Apple Inc's (AAPL) iPhone, as it posted an 11% rise in fiscal 2010 earnings before interest, tax, depreciation and amortization, driven by the launch of its brands in new territories like the U.S. MANAGEMENT CONSULTING GROUP PLC (MMC.LN), a professional services group, Wednesday said the trading climate has eased from the extremely difficult conditions last summer. The group's Alexander Proudfoot unit--which offers services to companies to improve efficiencies and cut costs--has significantly more leads for new business than at any stage in 2009, it said. At 1045 GMT, shares flat at 24 pence. ATH RESOURCES PLC (ATH.LN), a coal company, Wednesday said it received an approach to purchase its land regeneration business. The unit recovers the remaining coal from old mine sites and cleans up the land so it can be sold on or developed. At 1045 GMT, shares -3 pence, or 5%, at 65 pence. GW PHARMACEUTICALS PLC (GWP.LN) has agreed to extend a research collaboration with Japan's Otsuka Pharmaceutical Co. Ltd. for another three years. The two companies have worked together for the past three years testing whether compounds derived from cannabis can be used to treat a variety of illnesses, including cancer and diseases of the central nervous system. At 1045 GTM, shares -5 pence, or 4.5%, at 118 pence. CARECAPITAL GROUP PLC (CARE.LN), a healthcare property company, said Wednesday it teamed up with Proton Therapy USA to set up a network of five proton therapy centers in the U.S. and U.K. The two companies have formed Proton Therapy Global Management, which is seeking to raise several hundred of millions of dollars to invest in proton centers. At 1045 GMT, shares -0.07 pence, or 0.9%, at 8.55 pence. CINEWORLD GROUP PLC (CINE.LN), a U.K. cinema company, posted a 3.7% rise in first-half sales on the year, boosted by the release of 3D blockbusters like Avatar and Alice In Wonderland, and said it expects to benefit from a significant number of 3D releases in the second half. Cineworld's box office sales rose 4.1% on the year in the 26 weeks to July 1, with films like Iron Man 2 and Sex and the City 2 also proving popular with customers. At 1045 GMT, shares +1 pence, or 0.5%, at 202 pence. CLARKSON PLC (CKN.LN), a shipping services group, said first-half trading is ahead of its expectations, reflecting an improvement in shipping markets and foreign exchange benefits. At 1045 GMT, shares +27 pence, or 3.1%, at 887 pence. BIOCOMPATIBLES INTERNATIONAL PLC (BII.LN) said its licensee and marketing partner Merz Pharmaceuticals GmbH has temporarily suspended shipments of its aesthetics injectable filler Novabel after some patients reported adverse reactions. At 1045 GMT, shares -11 pence, or 4.4%, at 250 pence. MATTIOLI WOODS PLC (MTW.LN) said it is positive for fiscal 2011 and said it was still looking to make acquisitions within the self-administered pension schemes and self-invested personal pension markets. At 1045 GMT, shares flat at 207 pence. DJ UK Smaller Cos +0.4% AIM +0.07% -By Hannah Benjamin, Rachael Gormley & Jason Douglas, Dow Jones Newswires; +44 (0) 20 7842 9298; [email protected] (END) Dow Jones Newswires June 30, 2010 07:30 ET (11:30 GMT)