Beyond the Footsie: Thursday close

13 April 2012

THE UK small-cap index closed near its session lows, as a weak broader market and a profit warning from Regent Inns managed to outweigh a raft of upbeat earnings reports and contract news, dealers said.

By the close, the FTSE Small Cap index was down 12 points at 2,641.1, just off its day's low of 2,638.4, while the FTSE 250 index was 61.1 points lower at 6,250.2.

Regent Inn shares were one of the day's worst performers, closing down 11p at 50 1/2p after warning that its full-year results were likely to fall short of expectations due mostly to a weak performance from its Walkabout venues.

Meanwhile, Character Group fell 2 1/2p to 98 1/2p after the group revealed a halving of its interim pretax profits, down to £2m from £4m in the previous year, as a result of a change in its sales mix towards low-margin digital sales.

Constellation Group tumbled 0.05p to 0.28p as a result of capital restructuring news.

On the upside, Leeds Group surged 5p to 24p after revealing that it has begun talks with a third party that may lead to a bid for the group as a whole.

In addition the group said it is considering selling off two of its businesses and returning the cash to shareholders. Leeds also issued a statement, saying current trading is 'in-line'.

Water Hall shares topped the small-cap leaderboard however, ending 1 1/2p higher at 5 1/2p after posting a full-year pre-tax profit of £304,000, up from £57,000 in the previous year and adding that its first quarter trading is 'satisfactory'.

Superscape made a late move to close 4p higher at 32 1/2p after announcing that it has signed a royalty distribution deal with a US telecoms operator.

Just Car Clinics was also in demand, up 4 1/2p at 22p after confirming that trade in the first quarter is in line with expectations.

The update accompanied the group's full-year results, which contained widening losses, although this was explained away by last year's acquisition of the Just Car Clinics Group.

Zotefoams meanwhile, jumped 5p to 73 1/2p after an upbeat agm statement. The group said trading has started well in 2004, with sales growth in line with expectations.

Away from earnings, Amstrad added 9p to 185 1/2p after announcing that it has won an order to supply digital satellite set top boxes to the Italian broadcaster, Sky Italia. Shipments are scheduled to commence in the next financial year.

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