UK SMALLCAP ROUNDUP: Skyepharma Slides On New Flutiform Blow

24th Jun 2010 16:00

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 SKYEPHARMA PLC (SKP.LN) shares fell to a new low Thursday after the drug developer said its hopes of launching asthma treatment Flutiform in the U.S. were dealt what's likely to be a final blow. SkyePharma said the Food and Drug Administration said it must perform significant further clinical trials of Flutiform before it can be considered for approval. The company is now working with its advisers to determine whether there is "a viable way forward" to bring Flutiform to the U.S. market. At 1430 GMT, shares -6.25 pence, or 17.7%, at 29 pence. THB GROUP PLC (THB.LN), a specialist insurance and reinsurance broker, is considering local broker partnerships in Indonesia and Malaysia, Group Finance Director Rob Wilkinson said Thursday, as the firm looks to expand its presences in the Far East. At 1430 GMT, shares +3 pence, or 5.8%, at 54.5 pence. MILOC GROUP, a Hong Kong-based healthcare company, is planning an initial public offering in London to raise funds to establish a network of traditional Chinese medicine clinics in China, Hong Kong and Macau, MiLOC's chief executive said in an interview Thursday. Michael Ong told Dow Jones Newswires MiLOC is hoping to join London's junior Alternative Investment Market as early as next month and will use the money raised to help fund the purchase of traditional Chinese medicine, or TCM, clinics and hospitals in Asia. MCBRIDE PLC (MCB.LN), a maker of household cleaning and personal care products sold under retailers' own brands, said it expects raw materials costs to rise by up to 6% in fiscal 2011, but it won't be able to pass the rises on to customers straight away. The firm, which makes goods for companies including U.K. supermarket chain Asda, said prices for key raw materials are expected to rise 4% by the end of June compared with December. At 1430 GMT shares -36.8 pence, or 20.5%, at 142.4 pence. SEEING MACHINES LTD. (SEE.LN), which develops vision-based industrial systems, said it expects fiscal 2010 revenue to fall "significantly below" market expectations because of order delays. At 1430 GMT shares -0.75 pence, or 23%, at 2.5 pence. D1 OILS PLC (DOO.LN) said the buyer of its biodiesel production and distribution site at Bromborough, England, has said it probably won't be able to complete the deal. D1 exchanged contracts with an unnamed buyer for its site at Bromborough in February and the two parties agreed a price of GBP2.6 million. At 1430 GMT shares -1.3 pence, or 17%, at 6.5 pence. EAGA PLC (EAGA.LN) said the U.K. government's review of public spending is leading to delays in contracts. Eaga is working on a project to install solar panels on public housing but said procurement decisions are being delayed. Contract awards are being put off, Eaga said. At 1430 GMT shares +1.5 pence, or 1.3%, at 119.5 pence. ACM SHIPPING GROUP PLC (ACMG.LN), a ship broker, reported a 24% decline in fiscal year profit due to a slump in shipping rates and said it expanded into dry cargo by buying Australia-based Endeavour Shipbrokers Pty. Ltd. ACM said the purchase of Endeavour for A$10 million ($8.72 million), in cash and shares, will boost future earnings. At 1430 GMT shares +5.5 pence, or 2.9%, at 194 pence. AEA TECHNOLOGY PLC (AAT.LN), a U.K. energy and climate change consultancy, said it expects an increasing proportion of its revenue to come from the U.S. as a result of the country's drive to reduce its dependence on foreign oil and create jobs in clean technology. AEA's fiscal 2010 pretax profit fell 53% on higher costs. The firm is focusing on winning business in the U.S. as the U.K. government looks to cut spending. At 1430 GMT, shares +1 pence or 5.6% at 19 pence. FFASTFILL PLC (FFA.LN), a financial software and services provider, has signed contracts with two international banks to provide them with multi-asset clearing and settlement back office services. FFastFill wouldn't name the customers, but said one is a large Europe-based international bank and the other is an international bank in Asia. At 1430 GMT, shares -3.7 pence, or 1.7%, at 211.1 pence. YULE CATTO & CO. PLC (YULC.LN) said it expects its underlying pretax profit for the first half of 2010 to be "substantially ahead" on the year as its main business reported good volumes throughout the second quarter. At 1430 GMT shares +6.25 pence, or 3.5%, at 187.25 pence. DS SMITH PLC (SMDS.LN), a packaging company, said it is targeting higher returns and less cyclical business as part of a major company review. "In [sectors such as] food and drink and cleaning products, the demand is far less cyclical than in the automobile sector," said Chief Executive Miles Roberts. DS Smith also said it more than doubled its fiscal year pretax profit as costs and spending fell. At 1430 GMT shares +1.2 pence, or 1%, at 121.2 pence. DJ UK Smaller Cos -0.8% AIM -0.3% -By Rachael Gormley, Jason Douglas & Hannah Benjamin, Dow Jones Newswires; +44 (0) 20 7842 9272; [email protected] (END) Dow Jones Newswires June 24, 2010 11:00 ET (15:00 GMT)