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Small caps round-up: Caza Oil & Gas, Alexon, Falkland Island
Thu, 09 Feb, 2012
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Small caps round-up: Caza Oil & Gas, Alexon, Falkland Island
Thu, 22 Apr 2010, 14:48:00
Shares in
Caza Oil & Gas
jumped after it said it encountered 'multiple gas bearing sands' after drilling at the Wharton West Wilcox Field in Texas. Shares in vehicle tracking systems specialist
Minorplanet
slumped after it said it is selling its UK arm, which accounts for about 40% of overall revenues, to meet outstanding tax payments of about £2m. Fashion retailer
Alexon
scrapped its final dividend after losses in 2009 soared to £14.3m. Underlying profit, stripping onerous lease costs, fell to £0.9m from £10.8m. Turnover fell 13.6% to £153m. Group like-for-like sales for the eleven weeks ended 17 April 2010 were minus 4%, in line with management's expectations. Actions taken provide a strong platform for the group to improve its financial performance going forward, it added.
Falkland Islands
expects profits for the year to March to be above market expectations with underlying pre-tax profits (before amortisation and non trading items) a little ahead of the re-stated prior year figure of £2.3m. The Falkland Islands Company benefitted from stronger results than anticipated from the group's business in the Falkland Islands, with freight and local service businesses boosted by oil exploration activity and mine clearance operations. The group's pre-tax profits will also be boosted materially by the £3.1m profit on the sale of FOGL shares in November 2009 together with £0.2m of cash compensation received for the early surrender of a property lease at Momart.
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