UK SMALLCAP ROUNDUP: Polar Capital Sees Assets Rise In 2H

23rd 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 POLAR CAPITAL HOLDINGS PLC (POLR.LN), an asset manager, Wednesday posted a 74% decline in fiscal 2010 pretax profit, but recovered the loss recorded at the half-year point due to a significant recovery in assets under management during the second half. Polar said it was "encouraged" for fiscal 2011 by the rise in assets under management, but it expects the wider economic environment to remain challenging during much of the fiscal 2011. At 0751 GMT, shares flat at 94.5 pence. INTERNATIONAL PERSONAL FINANCE PLC (IPF.LN), a U.K. lender, said trading in April, May, and for the year to date has been ahead of plan after its second quarter performance benefited from the reversal of impairment charges taken during the weather-stricken first quarter. At 0751 GMT, shares +9.7 pence, or 4.4%, at 228.9 pence. THOR MINING PLC (THR.LN), a minerals exploration company, said it plans to raise up to GBP2.7 million through a share placing which it will use to fund the exploration and evaluation of its Dundas Project in western Australia. At 0751 GMT, shares -0.3 pence, or 29%, at 0.75 pence. PRIMARY HEALTH PROPERTIES PLC (PHP.LN) said it has agreed to acquire primary care and pharmacy property company Health Investments Ltd. for around GBP11.7 million, in a move that will increase its total portfolio size by more than 10%. Health Investments owns 14 primary care properties worth GBP39 million with a current annual rent roll of GBP2.4 million--reflecting a net initial yield of 6.1%. At 0751 GMT, shares +2.5 pence, or 0.9%, at 286 pence. GOINDUSTRY-DOVEBID PLC (GOI.LN), an auction services group, said it is optimistic it will be profitable in 2010, saying its first-half results will be "significantly improved" from the adjusted loss of GBP1.6 million in the first half of 2009. At 0752 GMT, shares flat at 0.8 pence. ORIGO PARTNERS PLC (OPP.LN) said it has strengthened its presence in Mongolia by completing investments in two Mongolia-based exploration companies following its successful placing to raise $30 million on June 11. At 0752 GMT, shares +1.25 pence, or 4.4%, at 29.5 pence. ILX GROUP PLC (ILX.LN) reported a wider fiscal year pretax loss but said the current outlook is one of steady improvement. The online learning software and business training company added that revenue across the group for the current fiscal year to date is up 10%. At 0752 GMT, shares flat at 21.5 pence. CARR'S MILLING INDUSTRIES PLC (CRM.LN) said it has acquired animal feed companies Scotmin Nutrition Ltd. and A.C. Burn Ltd. from Buccleuch Country Ltd. for a total of GBP5.62 million in cash. The company said that, following integration, both acquisitions are expected to add to earnings for the fiscal year ending Sept. 3, 2011. At 0753 GMT, shares -1 pence, or 0.2%, at 483.5 pence. THEO FENNELL PLC (TFL.LN), a high-end U.K. jeweler, said it has bought a 20% stake in independent design consultancy, The Original Design Partnership Ltd., which was set up by its own founder and namesake Theo Fennell. At 0753 GMT, shares flat at 36 pence. AXIS-SHIELD PLC (ASD.LN), a diagnostics company, said it has launched an automated anti-CCP test for the early detection of rheumatoid arthritis on its new Zenit RA analyzer system. At 0753 GMT, shares -6.5 pence, or 2.4%, at 262.5 pence. DJ UK Smaller Cos -0.5% 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 23, 2010 04:30 ET (08:30 GMT)