UK SMALLCAP ROUNDUP: NXT's Cash Flow Pressured By Sales Fall

14th Jul 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 NXT PLC (NXT.LN), U.K. technology and licensing company, Wednesday said fiscal 2010 revenue is "significantly down" on last year, in spite of an improvement in its second half, which in turn has put some pressure on its short-term cash flow. The firm, which is best-known for its flat panel loudspeaker technology, said it was unable to close a licensing deal of the same size as its $1.8 million deal in fiscal 2009 with Japanese print firm Nissha Printing Co. Ltd. At 1055 GMT, shares -1 pence, or 12%, at 10 pence. DP POLAND, a new firm that has secured the Polish franchise for major pizza delivery brand Domino's Pizza Inc. (DPZ), Wednesday said it plans to join London's junior Alternative Investment Market. Domino's Pizza doesn't currently have any operations in Poland. DP Poland said it plans to roll out Domino's Pizza stores initially in Warsaw, and hopes to have opened at least 27 owned stores by the end of 2012. THORNTONS PLC (THT.LN), a chocolate retailer, Wednesday announced it will axe 35 jobs in its head office, and didn't rule out further job losses, after posting a worsening decline in sales in its fourth quarter. Sales from Thorntons' stores open more than a year fell 6% in its final quarter, or the 10 weeks to June 26, deepening from a 4.6% fall in the previous quarter. At 1055 GMT, shares +1 pence, or 1.2%, at 82 pence. 1ST DENTAL LABORATORIES PLC (FDT.LN), a maker of dental implants, reported a small swing back to profit for the first six months of its fiscal year, as cost savings helped offset a fall in revenue caused by the volcanic ash cloud that grounded planes in Europe during spring. The company added it is "cautiously confident" for the full fiscal year although said demand for privately funded dental work has fallen in the U.K. as patients resist discretionary spending. Revenue from state-funded dental work is stable, it said. At 1055 GMT, shares -0.19 pence, or 4%, at 4.43 pence. ASOS PLC (ASC.LN), an online fashion retailer, Wednesday posted a 48% jump in first-quarter group revenue, helped by a more than doubling of overseas sales, although it cautioned that it is too soon to know if this level of momentum will continue for the rest of the fiscal year. Separately, the firm issued a stock market notice which said Chief Executive Nick Robertson has sold more than 1.6 million shares in the company at 890 pence each, reducing his stake to 10.3%, or just over 7.7 million shares. At 1055 GMT, shares +51 pence, or 5.9%, at 949 pence. SILENCE THERAPEUTICS PLC (SLN.LN), a biotechnology company, has extended a research deal with AstraZeneca PLC (AZN.LN) by another year. The two companies are developing five potential drug candidates focused on respiratory diseases and cancer. If ultimately successful, Silence could earn up to GBP200 million in fees and milestone payments plus royalties on sales of any drugs that make it to market. At 1055 GMT, shares +0.1 pence, or 1.9%, at 5.5 pence. LXB RETAIL PROPERTIES PLC (LXB.LN), a real estate investor, said it intends to raise GBP40 million in a share sale to make new investments. The company, which invests in out-of-town retail property, said it has invested or agreed to invest 85% of the GBP110 million it raised in an initial public offering late last year but is still seeing further opportunities for acquisitions. At 1055 GMT, shares +5 pence, or 6%, at 94 pence. TOPPS TILES PLC (TPT.LN), a tile and wood flooring retailer, said the rate of sales decline in its third quarter slowed. Topps Tiles said overall revenue in the 13 weeks to July 3 fell 2.5% on the year, with comparable sales falling 1.2% on the year. At 1055 GMT, shares +2 pence, or 3.5%, at 52 pence. EMIS GROUP PLC (EMIS.LN), a healthcare IT company, said it expects to benefit from proposed reforms of the U.K.'s state-run National Health Service. EMIS's technology is used by NHS doctors to manage patients' records and the company said the reforms--which include handing control of the bulk of the NHS budget to doctors--will require software that permits physicians to share information quickly and securely. It added Wednesday 2010 trading is in line with its expectations. Revenue for the first six months of the year was GBP29 million, it said. At 1055 GMT, shares -27 pence, or 7.8%, at 325 pence. DJ UK Smaller Cos -0.3% AIM flat -By Hannah Benjamin, Jason Douglas and Rachael Gormley, Dow Jones Newswires; +44 (0) 20 7842 9298; [email protected] (END) Dow Jones Newswires July 14, 2010 07:30 ET (11:30 GMT)