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
Sign up for MoneyWeek's newsletters
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.
-
UK-US trade deal announced: US cuts tariffs on UK car imports to 10%
Keir Starmer and Donald Trump have announced a UK-US trade deal, but the US president has refused to lift baseline tariffs on most UK goods. What does it mean for the UK?
-
How to use mid-caps to diversify from the US
Medium sized companies are overlooked by investors but could offer an attractive ‘sweet spot’. We consider the case for mid-caps amid market volatility.