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This week’s Winners & Losers: from SmallCapNews.co.uk

Sunday, April 20, 2008

If last week saw hopes raised of some sort of deal between Microgen (MCGN) and SciSys (SSY), then this week those hopes were dashed. An offer by Microgen was rejected by the SciSys board leaving little more than commitments to work together in the future.

And it was no better over at DCD Media (DCD), which ditched plans to do a deal with Cardiff-based TV producer Boomerang Plus (BOOM). DCD maintains it’s in talks with various parties with the aim of buying something. Alas, it looks like this boomerang won’t be coming back.

On a brighter note, Gaming VC (GVC) said it had received a preliminary approach. The Luxembourg-based operator of casino, poker and skill games has been on the up since announcing strong trading last December.

Also on the up, AIM-quoted recruiter Empresaria (EMR) unveiled a doubling of revenue and pre-tax profits for the year. Chairman Tony Martin said investments made in Germany and Chile had transformed the group. Adjusted pre-tax profits for the year increased 114% to £6.2 million on revenue up 96% to £147.8 million.

Telecoms specialist Scotty (SCO) turned a profit in the first six month of the year, justifying the decision to jettison its telehealth business last June. First half pre-tax profits topped £304,000 with chairman Rt. Hon The Lord Trefgarne claiming that the full year should be boosted by a knockout fourth quarter. Signs are that the expected operating profit of £600,000 for the full year will be exceeded.

Another winner was Dillistone (DSG) which confirmed a full year rise in sales of 23% to £4.07 million, with pre-tax profits at the recruitment software group up by 30% to £1.20 million. MD Jason Starr said the rising number of contracts in ‘emerging markets’ was “an endorsement of our position as the market leader in the global recruitment software industry”.

Shares in Bioganix (BGX) rallied after the waste management services group won big in a contractual dispute with a major customer. The company will receive an immediate payment of £100,000 followed by 12 monthly instalments of £10,000 each, along with cut price fees over the next two and a half years.

Elsewhere, the week started badly for Jim Murray-Smith, who resigned as chief executive of Hardide (HDD). The move followed Hardide’s AIM suspension in early April amid corporate governance “issues”. Current chairman Robert Goddard has assumed the role of executive chairman until a replacement for Murray-Smith is found.

There was a distinct lack of “cheers” at pub and hotel operator Innobox (INO), which was forced to suspend trading in its shares after the resignation of its nominated adviser HansonWesthouse. A search for a new Nomad is under way in conjunction with a search for a reverse takeover opportunity.

Another pub loser was The Food and Drink Group (FDG), which saw its shares plummet on the back of trading concerns. The sale of its leasehold bar in Maddox Street, London, did little to sway investors, who pummelled the company in early trading.

And finally, poor trading conditions at betting company Neville Porter (NEV) forced the company to suspend AIM trading of its shares. The company said the move was pending further clarification of its financial position.