Small caps round-up: HMV, Powerflute, Plethora

HMV Group, the struggling entertainment media seller, has confirmed that it is still pondering what to do with its live music business. HMV added that a number of parties have indicated an interest in acquiring the business. There has been press speculation recently about who might be interested in buying HMV's live music arm, which is one of the few parts of the business enjoying growth.

Powerflute Oyj, a packaging and paper group, has reported a 15% rise in revenues from €105.4m to €121.4m during the year ended December 31st. Pre-tax profit almost tripled from €4.8m to €12.4m. Earnings per share rose to 3.5 cents from -13.3 cents. Cash at the end of the period stood at €43.6m compared to €18.7m the same date the previous year. The directors intend to recommend a dividend for 2011 of 1.3 cents per share (2010: 1.0 cents per share)

Plethora Solutions has announced the postive outcome of pre-submission meetings held with the Rapporteur and Co-Rapporteur (Spain and the UK respectively) for its PSD502 treatment for premature ejaculation. The company is now on track to file the dossier with the European Medicines Agency in the first half of this year. Plethora said it is "delighted" by the response from the two agencies involved in the review.

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Surgical Innovations Group, a manufacturer of medical supplies, has received clearance from the US Food and Drug Administration for is reusable PretzelFlex device. This clearance permits the use of PretzelFlex in the US market for organ and tissue retraction.

Stilo International, a software and services firm, posted a fall in pre-tax profit from £0.142m to £0.105m for the year ended December 31st. Sales revenue fell from £2.38m to £1.74m, while operating expenses were reduced by 17% to £1.5m (2010: £1.8m). Cash more than doubled at the year end, from £0.49m to £0.93m.

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