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Small company round up: Abbeycrest, Cambridge MS, GWR, Advance Medical

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Date: Wednesday 12 May 2004

LONDON (ShareCast) - A swing back into the black by jewellery maker and distributor Abbeycrest put some sparkle back into its share price.

Underlying profits for the year to end February bounced to £1.9m compared with losses of £0.3m in the previous first half. Sales fell from £98.9m to £96.8m. Pre-tax profits swung from a loss of £563,000 to a profit of £1.61m.

Abbeycrest said that this year so far the UK arm has performed to expectation while the international businesses DCL and Essex have shown improving levels of third party business, reversing last year's trend.

Cambridge Mineral Resources shares soared as it revealed it is in the early stages of bid discussions, though it gave no other details.

Rumours resurfaced this week of more Canadian interest with Agnico-Eagle Mines, which has interests in Finland and Kinross Gold, the name in the frame. Last year talks with Wheaton River fell through.

Radio broadcaster GWR will pick up about £10.5m following the sale of its 27.8% stake in Radio Investments to Local Radio.

The sale is conditional on Local Radio joining Aim at the end of May. The proceeds will reduce GWR's debt to £55m and produce an exceptional gain of £4m.

Wound treatment group Advanced Medical Solutions has signed a collaboration agreement with Nitto Medical, a division of Japanese giant Nitto Denko.

Nitto evaluate a number of AMS' woundcare products with an option to distribute and market them in Japan.




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