Smaller companies report: Weds close
SHARES in UK smaller companies closed lower today, tracking a weaker market trend, with Inter Link Foods knocked by a profit warning.
At the close, the FTSE Small Cap index was 1.9 points lower at 3,648.3, just above the late low of 3,646.9, well below an early peak of 3,653.7. The FTSE 100 index ended 72.1 points lower at 6,010.0.
Among the top fallers, Inter Link Foods shed almost a quarter in value today, dropping 196½p to 551p after the firm warned its full year profit will fall short of market expectations as trading volumes in April were lower than expected.
Despite this, the company said it will still show record profits, sales and earnings per share.
Year-on-year sales growth is expected to be around 34%, and pre-tax profit growth is expected to be not less than 25%, the company said.
Shares in iTrain, the IT training software provider, dropped 0.875p lower to 4p after postponing the announcement of its results for the year ended Dec 31 2005 following a slight delay in the final auditing process in Germany. The preliminary results are now expected to be released on May 19.
Meanwhile shares in Bora Communications fell 12½p lower to 57½p as the group contemplated its reverse takeover of Elekesen, a UK-based electronic sensor technology company.
Bora, which is changing its name to Elekesen from today, issued £37.8m new shares at 50p each to pay for the £18.9m acquisition.
And profit-takers moved in on Equator Exploration shares, 50¾p lower at 299p after the company and Peak Petroleum Industries Nigeria revealed that their second well in offshore Nigeria has discovered gas.
Among the small cap winners, shares in Lennox Holdings, recovered 4½p to 10p, rallying after yesterday's plunge following restoration of trading in the stock on AIM. Lennox shares dropped to 5½p on Tuesday, having been suspended at 32p on 24 April.
Shares in Premier Management Holdings were up 54% in value before being suspended at 0.3p today following news the firm is holding talks about a potential reverse takeover of Yacht Fuel Services. Yacht Fuel provides marine fuels and lubricants to Superyachts.
Meanwhile Henderson Morley shares took on 1.225p at 4.4p, a 38.5% jump in value after the group revealed in a trading update that negotiations for the licensing agreement for its Ionic Contra Viral Therapy (ICVT) are progressing well.
Most watched Money videos
- BMW's Vision Neue Klasse X unveils its sports activity vehicle future
- Mini Cooper SE: The British icon gets an all-electric makeover
- Skoda reveals Skoda Epiq as part of an all-electric car portfolio
- 2025 Aston Martin DBX707: More luxury but comes with a higher price
- Land Rover unveil newest all-electric Range Rover SUV
- MailOnline asks Lexie Limitless 5 quick fire EV road trip questions
- How to invest for income and growth: SAINTS' James Dow
- Tesla unveils new Model 3 Performance - it's the fastest ever!
- Mercedes has finally unveiled its new electric G-Class
- Mini celebrates the release of brand new all-electric car Mini Aceman
- Blue Whale fund manager on the best of the Magnificent 7
- 'Now even better': Nissan Qashqai gets a facelift for 2024 version
- MARKET REPORT: S4 Capital shares soar as Sir Martin...
- 86-year-old Peter's woes with a faulty smart meter that...
- ALEX BRUMMER: UK second to United States among G7 richest...
- Ikea pushes back opening of its Oxford Street store to...
- BHP boss to meet his counterpart at takeover target Anglo...
- Jaguar Land Rover posts its biggest profit since 2015...
- How these four private equity trusts could help you cash...
- Footsie hits new high as economy roars back
- British Airways owner IAG set for bumper summer
- Should the Bank of England have cut interest rates...
- Households with emergency savings pots rises...
- My favourite 20 new cars for under £20,000 - by the...
- SMALL CAP MOVERS: Light Science Technologies sales flourish
- The government is asking motoring enthusiasts for help...
- Rightmove expects weaker ad revenue growth as more...
- BUSINESS LIVE: UK GDP grows 0.6%; IAG profits take off;...
- How criminals could use AI to scam Britons - and what can...
- BA owner IAG profits climb more than sevenfold