Small caps round-up: Eckoh, Chime Communications, Charteris
Date: Monday 17 Dec 2007
LONDON (ShareCast) - Speech recognition group Eckoh Technologies swung into a half-year loss and announced that it has sold the remaining trade and assets of its Connection Makers unit for £1.75m.
The group made a loss before tax of £771,000 for the six month to 30 September compared to a profit of £107,000 last time on revenue down to £17.95m from £43.99m previously.
“The conditions in the media sector have been challenging and we expect this to be a smaller business going forward, but despite this we have a good portfolio of clients with which we can maintain a strong and profitable position in the market,” said chief executive Nik Philpot.
“Looking ahead into 2008, our entire focus will be on aggressively driving forward the speech business and as a result we have renewed confidence, vigour and belief that we can deliver real value for shareholders,” he added.
Marketing service group Chime Communications expects full-year results to be at the top end of forecasts.
Operating income growth is expected to be around 20% and operating profit growth is thought to be in excess of 25% with all divisions showing growth. “Our trading performance is very strong, our new business pipeline is very strong and our prospects look very good,” said chairman Lord Bell.
Shares in Charteris surged ahead after the business and IT consultant said it expects to make headway through the remainder of the first half year and good momentum entering into the second half.
The group said it has seen extensions to a number of high profile projects and breakthrough sales with new clients.
Cyprotex fell after the pharmaceuticals group said it will end the year with a cash position similar to that seen at the interim stage due to the costs of defending the group against 'requisitionists' who tried to unseat the present management.
The group expects revenues of between £3.6m and £3.7m and added that current momentum suggests further progress will be made in the financial year 2008.
IT solutions provider K3 Business Technology has bought software provider Index Computer Systems for £2.75m in cash and shares.
The group said the acquisition is a highly complementary fit to its existing manufacturing software business.
Silence Therapeutics, formally SR Pharma, said it is not aware of any commercial reason for the recent decline in its share price.
