Small caps round-up: Assetco, IS Pharma, Safeland
Dec 07, 2009
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Fire service equipment outsourcer Assetco's profits fell to £5.4m in the six months to September from £6.5m, though its underlying half year performance was significantly ahead of the comparable period.
The core Integrated Support Services business delivered a 25% increase in profit to £3.9m as a result of both an expansion of our services and increased operating efficiency.
IS Pharma's sales of liver disease treatment Variquel are growing strongly, not only in the UK and German markets, but also in the newly launched markets. Stated revenues to September were flat at £5.9m, but underlying revenues rose by 16%. Pre-tax profits after costs of the Variquel launch fell to £0.5m, down from £1.5m.
Property group Safeland reported a loss in the first half of £897,000 (2008: loss of £2,109,000) with NAV per share down to 58p from 63p as at 31 March. There has recently been an overall improvement in market conditions, but this is unlikely to have a material impact on the group's results until the year ending 31 March 2011, it added.
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