Smaller companies: Friday Close
UK small caps ended the week higher, reflecting the wider market sentiment, with labelling group Timestrip in demand on the back of a contract win with food giant Nestle, dealers said.
The FTSE Small Cap index closed 14.9 firmer at 3,672.4, while the FTSE 100 index was up 54.8 at 6091.7.
Timestrip surged 1½p, or 20.35%, to 8.87p after Nestle confirmed it will now establish the group's three-day smart label as standard packaging on the product range that was chosen for the initial trials - the Maggi brand of 'ready to use' sauces.
Filtronic was another winner, up 29½p to 206p after announcing it has entered into exclusive talks with Powerwave Technologies for the disposal of the filter-based transmit receive module and power amplifier businesses of its Wireless Infrastructure Division.
Plant Health Care added 16½p to 101½p after announcing it has completed trials of its Myconate crop product in France. It said corn crops showed a 'spectacular increase' in yield despite weather conditions being 'less than ideal' for the growing of corn.
Following up, TEP Exchange Group hardened 0.05p to 0.55p after the company slashed its full-year pretax losses to £96,077 from £508,108 the previous year.
Elsewhere, Intelligent Environments Group, the online software provider for financial services, ticked up ¾p to 4.62p on news that non-executive chairman Clive Richards had snapped up 1.25m shares at 4.05p apiece on May 3 and a further 250,000 at 4p the following day. He now holds 12.3% of the equity.
Buyers also came for T Clarke, 16p better at 253½p, after the electrical engineer and contractor said in an AGM statement that the year has started well and the company is on track to meet current market expectations.
Elsewhere, Robert Walters attracted support, 14¾p higher at 250p following news that net fee income for the first four months of the current year was around 25% higher than the same period last year.
On the downside, news that offer talks with a third party have been terminated upset Millfield Group, down 3½p at 3.87p. On March 29, Millfield said it had received a preliminary approach which could or could not lead to an offer.
The company today said it had appointed turnaround consultants to conduct a strategic review of the group and expects to make a further announcement in the next few days.
Meanwhile, Aim-listed marketing services group NWD fell ¼p to 1p with narrowing full-year losses being offset by news that the current year has got off to a slower start.
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