UK SMALLCAP ROUNDUP: Staffline's Earnings To Top Expectations

18th 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 STAFFLINE GROUP PLC (STAF.LN), a U.K. recruitment company, Friday said it expects both first-half and full-year earnings to be "significantly ahead" of current expectations due to a raft of new business wins and the impact of recent acquisitions. Analysts expect the firm to post pretax profit of GBP4.2 million on revenue of GBP125.6 million, according to FactSet. At 0745 GMT, shares +15 pence, or 21%, at 86 pence. INNOVISION RESEARCH & TECHNOLOGY PLC (INN.LN) Friday said it has accepted a recommended cash offer by U.S. semiconductor firm Broadcom Corp. (BRCM), which values the company at about GBP32 million. The company intends to ask shareholders to agree to the 35 pence a share takeover by Broadcom, whose chips power Apple Inc.'s (AAPL) iPad. At 0745 GMT, shares +14.5 pence, or 76%, at 33.5 pence. MINOAN GROUP PLC (MIN.LN), a leisure resort developer, Friday said it is planning to kick off its buying spree of renewable energy licenses as it looks to diversify its business. The company said it will resume its program of license acquisition when it is satisfied with new legislation in Greece for renewable energy projects. At 0745 GMT, shares flat at 13.5 pence. MOBILE TORNADO GROUP PLC (MBT.LN), a mobile technology firm, Friday said it has won an order to provide its push-to-talk technology platform to a major Indian mobile operator. Mobile Tornado will also install and configure the system in the unnamed operator's network. At 0745 GMT, shares +0.38 pence, or 7%, at 5.5 pence. TRACSIS PLC (TRCS.LN) Friday said it has won a three-year contract worth more than GBP150,000 with a major U.K. train operator, but also cautioned that revenue it expected to receive this year will now come in 2011 following a delay in the retendering process of several contracts. The firm--which provides operational planning software and consultancy services to the rail industry--said the contract with the major U.K. train operator, which it didn't name, secures licence revenue for its recently released TRACSRoster optimization suite for a period of three years. At 0745 GMT, shares flat at 51.5 pence. CHURCHILL MINING PLC (CHL.LN), a U.K.-based coal miner, Friday said it has taken direct ownership in the Ridlatama Tambang license area of the East Kutai Coal Project, in accordance with a new Indonesian mining law. Managing Director Paul Mazak said direct ownership gives Churchill more flexibility over its East Kutai Coal Project and will help to speed up its development program. At 0745 GMT, shares +1.5 pence, or 1.5%, at 102.5 pence. WARNER ESTATE HOLDINGS PLC (WNER.LN), a U.K. property management firm Friday posted a narrower full-year pretax loss, but said although the property market has had a good run since last summer, it is now showing signs of running out of steam. The company added that property values have been improving since July but not enough to fully reverse the decline in Warner' property values earlier in the year. At 0745 GMT, shares flat at 28 pence. QMULUS NV (QML.LN), a private home letting, real estate and financial services group, Friday said it expects to cancel its listing on London's Alternative Investment Market after a shareholder with an stake of almost 81% called a meeting to propose the move. At 0745 GMT, shares flat at 22.5 pence. DJ UK Smaller Cos +0.3% AIM +0.4% -By Hannah Benjamin & Rachael Gormley, Dow Jones Newswires; +44 (0) 20 7842 9298; [email protected] (END) Dow Jones Newswires June 18, 2010 04:30 ET (08:30 GMT)