UK SMALLCAP ROUNDUP: Wincanton Eyeing Public Sector Openings

10th Jun 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 WINCANTON PLC (WIN.LN) said it is eyeing more opportunities in the public sector following a recent joint venture with outsourcing specialist Serco Group PLC (SRP.LN). "Public sector outsourcing isn't something we have been heavily involved in but there's quite a lot of opportunities in the medium term," Wincanton Group Chief Executive Officer Graeme McFaull told Dow Jones Newswires. The firm posted a significant fall in fiscal 2011 pretax profit, hit partly by higher financing and restructuring costs, but said it is poised for growth due to a pickup in the volume of goods companies are transporting, and contributions from newer sectors like defense. At 1050 GMT, shares +2 pence, or 0.9%, at 227 pence. HALFORDS GROUP PLC (HFD.LN) Thursday said it expects earnings to grow about 15% each year in the medium term, on an expanded core retail business, increased earnings from its most recent acquisition and more buys. The U.K. automotive and leisure products retailer added it won't use acquisitions as a way of re-entering Europe and other overseas markets, and its focus is very much on domestic opportunities. Its fiscal 2010 pretax profit climbed to GBP109.7 million from GBP77.5 million a year earlier. At 1050 GMT, shares +41 pence, or 8%, at 541 pence. PREMIER FARNELL PLC (PFL.LN) Thursday said strong sales growth in its first quarter has continued in to June and it remains on track to return the business to its pre-recession levels, helped by strong growth in overseas sales. "We don't have much forward visibility but if you look at the last four to six quarters there's definitely been an improving trend as we've come out of the recession," the international electronic products distributor's Chief Executive Harriet Green told Dow Jones Newswires Thursday. At 1050 GMT, shares +26 pence, or 11.7%, at 245 pence. NCONDEZI COAL COMPANY LTD (NCCL.LN), a Mozambique-focused coal explorer, joined London's Alternative Investment Market Thursday raising GBP35.6 million. Chief Executive Graham Mascall said the company will use the funds to conduct further exploration work and a fast-track bankable feasibility study on its assets, which will be completed in the second half of 2012. BETTER CAPITAL LTD. (BCAP.LN), a Guernsey-incorporated investment company, said it plans to raise up to GBP67.6 million through a share placing and move from London's junior Alternative Investment Market to the main market. Better Capital, which was founded by Alchemy Partners founder Jon Moulton and joined the Alternative Investment Market in December, said the placing and open offer will comprise up to 64,380,952 new shares at a price of 105 pence a share--a 5% discount to the closing price of 110.5 pence Wednesday. At 1050 GMT, shares flat at 111 pence. HARGREAVES SERVICES PLC (HSP.LN), a minerals and support services group, said it is no longer planning to pursue a merger proposal with coal producer UK COAL PLC (UKC.LN). The firms announced in May that they were in "very early" merger talks. At 1050 GMT, Hargreaves' shares flat at 635 pence. UK Coal shares -1 pence, or 2.4%, at 40.5 pence. SILVERDELL PLC (SID.LN) reported a swing back into the black for the first half, reflecting a year earlier impairment charge and a tighter grip on costs, and said it hopes to get more business as the U.K. government may favor refurbishing old buildings than splashing out on new ones. The asbestos removal company said its order book totaled GBP60 million at March 31, up from GBP57 million at the end of October, with GBP20 million of that booked for the second half of 2010. At 1050 GMT, shares +1 pence, or 13.6%, at 9 pence. DAISY GROUP PLC (DAY.LN) announced it has bought mobile handset provider Fone Logistics Ltd. for GBP3.6 million in cash, a move it said will increase its competitive position and bring more opportunities to the company. The business telecommunications provider--which earlier this month signed a GBP75 million three-year banking facility to fund more acquisitions--said it expects to get significant operating synergies from the deal. At 1050 GMT, shares flat at 96 pence. DJ UK Smaller Cos -0.3% AIM -0.2% -By Hannah Benjamin, Rachael Gormley & Jason Douglas, Dow Jones Newswires; +44 (0) 20 7842 9298; [email protected] (END) Dow Jones Newswires June 10, 2010 07:30 ET (11:30 GMT)