UK SMALLCAP ROUNDUP: Mulberry Keen To Bag First Chinese Store

17th 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 MULBERRY PLC (MUL.LN), a luxury fashion brand, Thursday said it is eyeing its first Chinese store, and anticipates opening its first shop in the region within the next couple of years. "Asia is a huge market and we now have a very strong base in Korea. The next big push will be into China, which we expect will happen in the next couple of years. We don't think it's the right time yet but we think the region has enormous potential," Mulberry Chief Executive Godfrey Davis told Dow Jones Newswires Thursday. At 1059 GMT, shares +24.5 pence, or 12%, at 225 pence. WS ATKINS PLC (ATK.LN), an engineering consultancy, said new energy projects and a revival in construction activity in the Middle East should help it weather looming public spending cuts in the U.K. Chief Executive Keith Clarke told Dow Jones Newswires WS Atkins expects some big publicly funded projects will be delayed, while others will face a budget squeeze, as the U.K. government attempts to grapple with the country's heavy debts. At 1059 GMT, shares -28.5 pence, or 3.9%, at 697.5 pence. CARETECH HOLDINGS PLC (CTH.LN) has a pipeline of 15 potential acquisition opportunities, Group Finance Director David Pugh said, as the U.K. social care provider looks to add another 1,000 beds to its capacity in the next three to four years. At 1100 GMT, shares flat at 347.5 pence. ASHTEAD GROUP PLC (AHT.LN), a construction equipment rental company, said it earmarked GBP225 million to plow into overhauling its fleet over the next 12 months, as improving demand for its diggers, pumps and generators suggests a recovery in building activity may be approaching. Still, Chief Executive Geoff Drabble said Ashtead remains cautious. He told Dow Jones Newswires there are mixed signals about recovery in the U.S., while looming public spending cuts may depress construction activity in the U.K. in future years. At 1100 GMT, shares +1.4 pence, or 1.2%, at 115.1 pence. MARWYN INVESTMENT MANAGEMENT LLP said it has bought a loss-making gas transport business from National Grid PLC (NG.LN) and intends to bring it to London's junior Alternative Investment Market with a GBP11 million fundraising. Investor Marwyn said it plans to turn the company around and re-establish it as a market leader in gas connections and transport. M WINKWORTH PLC (WINK.LN), a U.K. estate agents franchiser, said its housing transactions have increased 91% on year in the first five months of 2010, due to renewed confidence in bricks and mortar, although some uncertainty has returned to the market with the election of the new coalition government. At 1101 GMT, shares flat at 82.5 pence. COLLINS STEWART PLC (CLST.LN) said it has acquired wealth management firm Andersen Charnley Ltd. and its subsidiary Andersen Charnley Investment Management Ltd. as part of its strategy to grow its wealth management division. Following the acquisition, Collins Stewart's wealth management division will manage and administer GBP6.8 billion of assets. At 1101 GMT, shares flat at 71.75 pence. FAIRFIELD ENERGY PLC, an oil and gas company, said it intends to raise up to $500 million in an initial public offering in London to spend on developing its assets in the North Sea. GAME GROUP PLC (GMG.LN), a video game retailer, said it had a tough start to the fiscal 2011 and now expects full-year gross margins to fall around 100 basis points on the year. Game also Thursday named Ian Shepherd as its new chief executive from June 28. Shepherd has spent the past four years at Vodafone Group PLC (VOD.LN), most recently as U.K. consumer director. At 1101 GMT, shares -5.35 pence, or 6.1%, at 82.9 pence. CONSORT MEDICAL PLC (CSRT.LN), a medical device company, reported a 13% decline in fiscal-year profit, hurt by lower sales and a restructuring, but said an expanding product range gives it confidence for the year ahead. Chief Executive Officer Jonathan Glenn told reporters Consort is scouting for businesses that could add new capabilities or products to its Bespak unit, which makes valves and other components for inhalers. Drug handling and drug filling technologies are of interest, he said. At 1102 GMT, shares flat at 363 pence. NYOTA MINERALS LTD. (NYO.AU), an Ethiopia-focused gold explorer, said it has made a new discovery at its flagship Tulu Kapi gold project. The company said drilling confirmed the presence of a new mineralized structure beneath its current resource, which stands at 1.38 million troy ounces. At 1102 GMT, London-traded shares +1 pence, or 5.8%, at 18.25 pence. GRAINGER PLC (GRI.LN), a property company, said it is in talks with fund manager Moorfield about setting up a joint venture with one of Moorfield's funds to become a funding partner in the equity release investments portfolio of its new acquisition. At 1102 GMT, shares +5.8 pence, or 5.3%, at 114.5 pence. DJ UK Smaller Cos +0.2% AIM +0.2% -By Rachael Gormley, Jason Douglas and Hannah Benjamin, Dow Jones Newswires; +44 (0) 20 7842 9272; [email protected] (END) Dow Jones Newswires June 17, 2010 07:30 ET (11:30 GMT)