Small caps round-up: Liontrust, MS, Formjet...

Date: Thursday 04 Feb 2010

Fund manager Liontrust's funds under management fell to £1.18n from £1.2bn in the three months to December, with net outflows of £131m.

Performance fees were £3.3m down from £7m this time last year. Of this amount, £2.18m was earned from the Liontrust Credit Fund.

Engineering group MS International reports its defence business is trading in line with expectations while there are further signs of a recovery in 'Industrial Engineering' businesses.

Office software group Formjet posted a loss of £1.49m in 2009, but says the figures are of little relevance as it has changed its focus completely. Going forward, the group says it is seeing continued interest in Ability's range from major IT distributors, retailers and hardware manufacturers. It is looking at potential acquisitions which the board believes will be successfully delivered in 2010.

Verification software specialist GB Group posted sharply higher like-for-like adjusted operating profit for the nine months of £550,000 (2008: £320,000). Like-for-like revenues fell by 5% to £15.7m compared to the same period last year (2008: £16.6m). The improved profitability came principally from increased gross margins in the DataSolutions business and effective cost control across the group.

Total funds under management at Shore Capital Group at the end of 2009 stood at £1.33bn, down from £1.36bn at the end of November.

The share price of German residential property company Speymill Deutsche Immobilien hit the wall on Thursday after it revealed details of €9.7m write-downs on its outstanding interest rate swaps.

The company also said that it is in refinancing talks to ensure it remains in compliance with its loan covenants in the near term.

The company said that vacancies in the property portfolio remained at a broadly stable level over the final quarter of 2009.

Eco-technology company Tyratech has signed a new and exclusive strategic business relationship pact with pest control giant Terminix International.

The new agreement builds on the existing relationship between the two companies and covers continued development, marketing and co-branding of Terminix products that use Tyratech technology.

The new products will be launched under established Terminix brands that will be co-branded with TyraTech Nature's Technology brand.

« Go back to news channel

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE