Small caps round-up: Pilat, Westminster, Sinclair IS

The contracts are rolling in thick and fast at broadcasting software specialist Pilat Media Global, with a new contract with existing customer, FOXTEL management of Australia the third win the company has announced in February.

The new contract has been negotiated to govern the parties' relationship going forward as pay-TV firm FOXTEL intends to license and implement additional parts of Pilat's Integrated Broadcast Management System (IBMS) system. Under this contract, fee-earning work has commenced on the scoping and the planning of the potential implementation of IBMS Rights at FOXTEL later this year. FOXTEL will be the ninth customer to adopt the IBMS Rights offering.

Security solutions provider Westminster Group is another company that has bagged more than one contract in February. The latest one is for the supply of a counter-measures system to an unnamed Gulf state police force. The contract is worth $108,000. At the beginning of the week the company announced it had won a 15-year $150m+ contract to provide complete airport security at an international airport in Africa.

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Skin treatments supplier Sinclair IS Pharma is growing the top line rapidly after a rash of acquisitions but the bottom line remains a blemish as it beds things down following its merger with IS Pharma. Revenues in the second half of 2011 rose 67% to £23.4m from £14.1m in the corresponding period of 2010, with like-for-like revenues up 9%. Ignoring exceptional items, the company's earnings before interest, tax, depreciation and amortisation (EBITDA) were positive, at £0.7m versus a loss of £1.3m the year before, but the company still registered a loss per share of 1.4p, compared to a loss of 1.9p at the interim stage last year. The loss came about because the company saw a one-off £2.2m hit for administrative expenses relating to the merger. Loss before tax widened to £5.56m from £4.02m the year before, but excluding exceptional items it narrowed to £2.91m from £3.52m.