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Small caps round-up: Atlas Estates, Circle Oil, Michelmersch...

Date: Monday 02 Mar 2009

Central and eastern Europe property group Atlas Estates saw 2008 revenues rise to €51.9m from €27.4m the previous year, but fell into losses of €26.1m from a profit of €1.9m previously due to depreciating currencies in the region.

Africa-focused oil and gas group Circle Oil has announced its first oil production in Egypt.

Brick supplier Michelmersh has received an order for the supply of over 230,000 bricks for use in the redevelopment of St Pancras Chambers, the building fronting St Pancras Station in London.

Acquisitions helped Vitec, a supplier of broadcasting, entertainment and photographic equipment, report a sharp rise in revenues in 2008, while profits were flat.

Revenue climbed to £337.7m from £273.8m, with pre-tax profits slipping slightly to £25.5m from £25.8m.

The group said it had seen weakness in some of its broadcast systems businesses.

Shares in Byotrol fell after the cleaning products developer said revenues for the year as a whole will be behind anticipated levels.

British Polythene saw profit before tax and restructuring costs at £9.3m from £12.2m last year. Sales came in at £481m from £424m in 2007, reflecting pass through of higher input costs.

Shares in First Property surged after the group said it expects to report profit before tax comfortably ahead of market expectations. Total assets under management currently amount to approximately £314m (30 September 2008 - £290m).

Engineer Senior saw pre-tax profits surge 50% to £51.3m due to strong performances from both the Aerospace and Flexonics Divisions. Revenue rose 19% to £562m. "Senior has no material re-financing need until 2012, is strongly cash generative and is operating comfortably within its bank covenants," said the group


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