UK SMALLCAP ROUNDUP: Smiths News Looking For Acquisitions

15th 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 SMITHS NEWS PLC (NWS.LN), a newspaper and magazine wholesaler, said Thursday it is exploring acquisition opportunities as it looks to diversify its revenue streams in the highly-competitive media market. Chief Executive Mark Cashmore said the company doesn't have any specific buying targets in mind at the moment but is conducting research, including with external partners, to explore acquisition opportunities. "It's difficult to put a time frame on it but it's highly possible we could make an acquisition in the fiscal 2011," he said. At 1055 GMT, shares +1.25 pence, or 1.1%, at 112.25 pence. ILIKA PLC (IKA.LN), a maker of materials for batteries, electronics and medical devices, said it is meeting with the British military in the next few weeks to try and get a trial of its skin graft substitute products with the armed forces. "We're having some discussions over the next two weeks with the military, who've said they're interested in using the product," Chief Executive Officer Graeme Purdy told Dow Jones Newswires. At 1055 GMT, shares flat at 55.5 pence. SUPERGROUP PLC (SGP.LN), a fashion retailer, said it plans a push into Eastern Europe this year. "We were in Berlin and while there we wanted to develop new relationships. As a result of the trip I can say that over the rest of this year you'll see a lot of Eastern Europe slowly dealt with," Chief Executive Julian Dunkerton told Dow Jones Newswires. At 1055 GMT, shares +70 pence, or 8.8%, at 870 pence. MOTHERCARE PLC (MTC.LN), a retailer of parenting products, said it is considering selling its kids' toiletries range through a national concession, possibly in a supermarket. The firm sells own brand products like nappy cream, baby body wash and sleeptime massage lotion. At 1055 GMT, shares -20 pence, or 3.6%, at 532 pence. IQE PLC (IQE.LN), a semiconductor wafer company, said it expects its first-half results to be significantly ahead of market expectations due to stronger than expected sales of wireless products and increasing demand for optoelectronic and silicon-based wafers. The company said it is confident of strong demand for its products in the second half of 2010. At 1056 GMT, shares +2.75 pence, or 14%, at 22 pence. HAMWORTHY PLC (HMY.LN) said it has been awarded a GBP50 million contract from Brazilian shipyard Estaleio Promar S.A. to design and supply cargo handling systems for eight liquid petroleum gas carriers--its second Brazilian contract in the past month. The designer and manufacturer of marine and offshore fluid handling systems said the ships are scheduled for delivery from mid-2012 to mid-2015 and will be owned and operated by Transpetro, a subsidiary of Petrobras Energia S.A. (PXE) in Brazil. At 1100 GMT, shares +19 pence, or 6.2%, at 326 pence. ASTAIRE GROUP PLC (ASTR.LN), a stockbroker, said it is mulling a share sale to end its majority ownership by Evolve Capital PLC (EVOL.LN) Astaire said it is in talks with a number of parties about a share subscription that would reduce Evolve's interest. Evolve currently owns about 54% of the company. Talks are at an early stage and shareholders will be told more in August, Astaire said. At 1056 GMT, shares flat at 1 pence. ELECTROCOMPONENTS PLC (ECM.LN), an electronics distributor, said revenue grew 24% on year during the first quarter of its fiscal year, driven by strong trading in North America and online. At 1057 GMT, shares -6.7 pence, or 2.8%, at 230 pence. ABCAM PLC (ABC.LN), a seller of antibodies online, said fiscal-year earnings will be about 9% ahead of average market expectations as a weak pound and cost savings boosted sales and profit. At 1057 GMT, shares +20 pence, or 1.5%, at 1390 pence. DIMENSION DATA HOLDINGS PLC (DDT.JO), an IT services company, agreed a 120 pence a share takeover offer from Nippon Telegraph & Telephone Corp. (9432.TO), valuing it at GBP2.1 billion. At 1057 GMT, London-listed shares +20.1 pence, or 20%, at 112.7 pence. BOWLEVEN PLC (BLVN.LN), an oil and gas explorer, said it found deeper reservoirs of oil and gas condensate during drilling of an appraisal well at the Etinde permit, offshore Cameroon. At 1058 GMT, shares +13.25 pence, or 9.7%, at 149.25 pence. 888 HOLDINGS PLC (888.LN), an online gambling company, said it has been awarded a license by the French gaming regulator to operate poker betting websites in France. At 0759 GMT, shares +1.25 pence, or 1.1%, at 112.25 pence. SDL PLC (SDL.LN), a translation services company, said it agreed to buy an automatic translation software company for $42.5 million, in a deal that will allow its customers to translate larger volumes of online content quicker. SDL said the cash purchase of Los Angeles-based Language Weaver Inc. will reduce earnings in 2011 because of amortization charges but will boost earnings in future years. At 1058 GMT, shares +7.5 pence, or 1.5%, at 510.5 pence. SOCO INTERNATIONAL PLC (SIA.LN), an oil and gas company, said it agreed to assign a 20% interest in the Nganzi exploration block in Congo to Japan's Inpex Corp. (1605.TO). Inpex, which works alongside Soco in Angola, has agreed to fund 40% of a three-well exploration program at Nganzi and its share of future development costs. At 1059 GMT, shares +6.9 pence, or 1.7%, at 425.5 pence. LONRHO PLC (LONR.LN), a conglomerate that operates in Africa, said it has big plans to expand its ports, airline and farming businesses in the years ahead, as it prepares for a return to the main market of the London Stock Exchange. At 1059 GMT, shares +0.25 pence, or 2.4%, at 10.75 pence. JUBILEE PLATINUM PLC (JLP.LN), a platinum producer, said it agreed to form a joint venture with Northam Platinum Ltd. (NHM.JO) to evaluate the construction of a furnace incorporating Jubilee's ConRoast smelting technology. At 1059 GMT, shares flat at 28.5 pence. DJ UK Smaller Cos +0.4% AIM +0.3% By Rachael Gormley, Jason Douglas & Hannah Benjamin, Dow Jones Newswires; +44 (0) 20 7842 9272; [email protected] (END) Dow Jones Newswires July 15, 2010 07:30 ET (11:30 GMT)