PVR - The Irish Explorer

Ray,we were not the only ones dancing today!!!

UK small caps close higher, backed by series of contract wins


LONDON (AFX) - UK small caps closed the session in positive territory,
lifted by a series of contract wins and a solid day's trade, with Bella Media a
clear winner after agreeing a deal with Imax, dealers said.
At the close, the FTSE Small Cap index was at a session high of 3,941.7
points, up 15.9, while the FTSE 100 rounded the day's trade up 8.1 points at
6,319.0
Among the small cap gainers, Bella Media was a firm favourite, topping the
small cap gainers, up 0.02 at 0.04, after it said its subsidiary Bella Cinema
has entered into an agreement with Imax to provide a 3D Imax system for its
Monterey large format theatre project.
3DM Worldwide, up 0.50 at 5.62, said it has signed a technology transfer
licence with RJ Plastics, giving RJ Plastics certain rights to use the Powder
Impression Moulding process for which 3DM holds the intellectual property
rights.
3DM said it will receive 150,000 stg in staged payments, with the agreement
also providing for royalty payments based on the volume of production.
Meanwhile, Galleon had reason to cheer, up 1 pence at 14-1/4, after it
announced that subsidiary Croco Worldwide has won an order to supply 42.4 mln
units of two of its new toy products.
The order is valued at around 1.02 mln usd and has been placed by an
existing customer - a global consumer goods company - for placement in four of
its territories.
The products are themed to a major theatrical release anticipated this year.
In other contract win news, telematics service provider CybIT Holdings said
its BlueFinger unit will supply a fisheries vessel monitoring system worth more
than 1 mln stg to Thales UK.
The company said the win will contribute significantly to BlueFinger's
business performance in the fiscal year ending March 31 2007.
The news pushed the stock 2 pence higher at 50-1/2.
Online fashion retailer EBTM, finished the session better by 1.25 at 6,
after it said its sales for the six weeks to Christmas were up 275 pct on the
same period the year before, exceeding its target of net sales in excess of
350,000 stg.
"In light of current trading, we remain confident that we are poised for a
sustained period of positive growth in a fast-growing market," chief executive
Richard Breeden said in a trading update.
The company said it will release its first-half results by Jan 10.
South China Resources was also in demand, gaining 2-3/4 pence at 11-3/4,
following the announcement of the acquisition of 53 pct of a copper project in
Chinese Tibet for 6.8 mln usd.
In response, Hichens Harrison noted that SCR has indicated the potential for
further acquisitions for some time. The broker expects full details of the
project later this week, but believes the project to have very strong upside for
the company.
It concluded that although remote and at altitude, neither of these factors
will prevent a major development.
On the downside, investors shied away from shares in Evolutec, down 2-1/2 at
15-1/2, following poor phase II trials of its rEV131 product, leading Bridgewell
Securities to remain 'neutral' on the stock.
The company said rEV131 was compared to the commercial steroid standard,
prednisolone, and a placebo and had a primary endpoint of inflammation 14 days
after cataract surgery.
There were no significant differences between rEV131 and the placebo whereas
prednisolone performed as anticipated.
"Following this disappointment, no more investment will be made by Evolutec
in rEV131," chief executive Mark Carnegie Brown said.
Evolutec will announce its 2006 full-year results on Feb 27.
Finally, punters were unimpressed with figures from recruitment company
Imprint, down 8-1/4 pence at 249-3/4, after it said it expects full-year
adjusted pretax profit to be around 11.3 mln stg - up 62 pct on last year but
marginally below consensus forecasts.
In a trading statement the group blamed a greater-than-expected proportion
of fourth quarter revenue coming from its lower margin regions and the
strengthening pound for the expected shortfall.
However, the group said it has continued to grow throughout the year with
net fee income expected to be up 41 pct at 45 mln stg.