Beyond the Footsie: Thursday close

13 April 2012

SMALL caps closed in positive territory, in-line with blue chips, and with positive earnings news providing most of the upside.

The FTSE Small Cap index finished up 6.3 at 2,599.6, while the FTSE 100 closed 12.7 ahead at 4,642.8.

Formation Group, the old Proactive Sports, put in a bullish performance, closing up 1.38p to 7.25p, after the company revealed a 15% increase in full-year profits, a 31% hike in the dividendtotal and said it remains optimistic about prospects.

Retail Decisions gained 2 3/4p at 18 1/4p, after the company said trading is stronger than had been anticipated at the interim stage, which will lead to a better than expected profit performance for this year, and 'materially' above expectations.

Vega closed 10p higher at 150p, as the consulting and technology company revealed it has made good progress in the first half of its trading year compared with last year, and that it has confidence in its trading performance for the remainder of the year.

Blacks Leisure also benefited from a positive statement made with its interims results, and closed up 8p to 440 1/2p.

Chief executive Roy Crossland said the owner of the Millets, Blacks Outdoor, Freespirit, Just Add Water and O'Neill chains is aiming to boost its store portfolio by around 13%, or 50 outlets, to around 440 over the course of this year.

It also posted pre-tax profit, before exceptional charges, of £6.5m in the six months to Aug 31, up from £5.6m, on turnover up 18% to £138.6m.

Daniel Stewart was also lifted by positive earnings news.

The shares finished up 1/4p to 8 3/4p, after the group, recently floated on Aim, said it is presently ahead of its target, in relation to the internal year end forecast.

The comments came alongside results for the first half to 30 September, 2004 which revealed a move into pre-tax profit of £892,597 from a loss of £485,730 after an increase of 137% in turnover to £4.03m from £1.7m.

Still in the financial sector, London Asia Capital added 1/2p to 12 1/2p, on news that the company has been appointed financial adviser to a £150m power project in China.

Meanwhile, Sportingbet added 18p at 134p, as investors welcomed its acquisition of fellow on-line gambling group Paradise Poker for up to £196.3m.

Sportingbet will pay for the deal via a mix of cash and shares.

Shares in Zoo Digital Group, finished the day up 1 1/2p at 13 1/2p, after the DVD technology and games publishing company said it has formed an alliance with several DVD development studios to deliver services based on its DVD-EXTRA Studio product.

Bid speculation boosted the shares of toys and digital cameras maker Character Group, which added 5p at 88p. Sentiment in the stock was also driven by hopes of bumper sales of the company's dancing robot, Robosapien, over Christmas.

Buckland Group shares were alos liftted by vague takeover speculation, and closed 0.10p higher to 0.30p.

On the negative side, Leisure Ventures slumped 0.08p to 0.37p as the group seeks to delist from Aim.

The group unveiled pre-tax losses for the year to 30 April of £343,000 against £8.56m a year earlier.

African Gold meanwhile shed 1/2p to 5 1/2p on profit-taking following yesterday's upbeat drilling report.

Jourdan lost 1/2p to 22 1/2p after it said in an AGM statement that trading during the first four months of the year have remained difficult.

It was also announced that Michael Arnold has resigned as non executive director of the company.

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