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Small caps news: Tandem, Synchronica, Supercart

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Date: Thursday 01 May 2008

LONDON (ShareCast) - Bikes, toys and sporting goods distributor Tandem saw pre-tax profit for the year ended 31 January rise to £1.1m compared with £649,000 previously but said the year ahead will be challenging.

Turnover was slightly better at £34.9m from £33.8m last year.

“Most retailers expect trading conditions to be difficult with the uncertainty in the economy,” said chairman Graham Waldron.

Mobile e-mail and synchronisation solutions provider Synchronica said it significantly reduced pre-tax losses to £3m in the year ended 31 December from £6.7m previously due to tight cost control.

Revenues more than doubled to £2.3m from £1.1m last time.

“2008 sees us with a healthy and growing sales pipeline and we look forward to building on our achievements during 2008 with confidence and optimism,” said chief executive Carsten Brinkschulte.

Plastic shopping trolleys maker Supercart reported slightly lower full-year pre-tax losses and said it believes further progress will be achieved through 2008.

Pre-tax loss narrowed to £912,000 in the year ended 31 December from a loss of £914,000 last time, while turnover rose 15.5% to £3.34m.

The first quarter of 2008 has been in line with expectations at air conditioning and pump hire group Andrews Sykes, although pre-tax profit from continuing operations fell to £8.55m in 2007 from £9.85m the year before. Last summer’s gloomy weather caused a £2m drop in revenue to £57.85m.

Drug inhaler group Consort Medical neared its best levels of 2008 on Thursday on news its HFA metered dose inhaler valves has continued to see a steady uptake, while commercial sales of its dose counting design platform are due to begin in 2009. Restructuring remains on track.

Shares in Tepnel Life Sciences advanced after it said it will continue to act as a preferred supplier to AstraZeneca for DNA extraction services.

“Following our very strong financial results for 2007 we are delighted to announce the extension of our existing agreement with AstraZeneca,” chief executive Ben Matzilevich said.

“Tepnel has been a supplier to AstraZeneca in the area of DNA extraction for a number of years and this announcement is evidence of the high level of client service and technical expertise that we are able to deliver.”

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