Small caps round-up: Associated British Engineering, Angel Bio, MobilityOne
Associated British Engineering, which is engaged in diesel and related engineering activities, has warned that sales during the financial year-to-date at its operating subsidiary, British Polar Engines, have been significantly lower on both last year's figures and on its internal budget. In a statement the firm said: 'Management cannot predict as to whether this is a trend for the year as a whole, as the level of quotations for work is currently in line with our earlier expectations and the sales over the full year may well even out.'
Associated British Engineering, which is engaged in diesel and related engineering activities, has warned that sales during the financial year-to-date at its operating subsidiary, British Polar Engines, have been significantly lower on both last year's figures and on its internal budget. In a statement the firm said: 'Management cannot predict as to whether this is a trend for the year as a whole, as the level of quotations for work is currently in line with our earlier expectations and the sales over the full year may well even out.'
Angel Biotechnology, a biopharmaceutical group, has told investors that there is likely to be an adverse financial impact in the current year as a result of ongoing difficulties in the market, with a number of high value projects expected to be signed in this period, being delayed by many months as client companies seek to manage their own cash resources. The company is undergoing a planned rationalisation of its business resources that will control spend on support activities.
MobilityOne, an e-commerce infrastructure payment solutions and platform provider, reported a 40.8% year-on-year rise in half year revenue from £14.4m to £20.3m. Operating profit rose to £127,637 (H1 2011: £8,169), while profit after tax rose to £44,716 from a loss after tax of £61,128 the same period the previous year. Cash at the year end increased from £0.93m to £1.0m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
NR
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
1,000 children hold over £100,000 in a junior ISA – how to grow tax-free nest egg for your child
Junior ISAs can be a tax-efficient way to grow a nest egg for your child. We explain how they work
-
How to start investing: a beginner’s guide
Getting started in investing is a great way to make your money work harder for you over the long term, as investments tend to outperform cash savings