Small caps round-up: Kenetics, Oxford Instruments, Oak
Date: Friday 04 Apr 2008
LONDON (ShareCast) - Security systems Kenetics said revenue for the year ending 31 December has improved 'significantly'.
The loss before tax was slightly lower than the previous year despite a write-down in impairment loss in investment.
“Significant resources were invested in developing a range of new generation products that are expected to bring about improvements to the group's revenue streams,” said the group.
Instrumentation specialist Oxford Instruments said it is confident that full year performance is in line with expectations.
Property group Oak Holdings has enlisted Laing O’Rourke to be its construction partner on YES!, the leisure-based resort being built in Rotherham. Laing O’Rourke, the UK’s largest privately owned construction firm, will be integrated within the YES! Project team at an early stage.
Steve Lewis, chief executive of Oak Holdings, hailed the agreement with Laing O’Rourke, saying it allowed the company to move the YES! scheme forward with certainty. The YES! project is a leisure and convention centre being built in Rotherham, on the south-eastern outskirts of Sheffield. Rotherham Metropolitan Borough Council granted Oak a 250 year lease on the £350m centre in February.
Support services firm Spice is to buy Energy 2000 Marketing Limited for an initial cash consideration of £2.25m. Additional contingent consideration will be payable based on Energy 2000's results for the year ending 30 April 2009 up to £3.25m.
Energy 2000, a commercial energy broker, it forecast to make operating profits of £0.4m on revenues of £1.2m in the year to end April.
Nanomaterials specialist Oxonica has picked up orders worth $2.15m for a number of development products to be delivered over the seven months through October 2008 as part of a continuing project with one of its existing security customers.
Recruitment company Hydrogen has been forced by its auditor to take the £1.3m costs of its bid for rival Imprint through its profit statement as a one-off cost rather than through its balance sheet as a prepayment.
The change follows Imprint's decision to drop its recommendation of Hydrogen's offer following a higher bid from Irish group Premier. The group previously reported profits rose by 18% in 2007 to £7.98m on sales 25% higher at £103m.
