Small caps round-up: ReNeuron, Havelock, Goodwin

Clinical-stage stem cell group ReNeuron has achieved further significant milestones with its ReN001 and ReN009 programmes in stroke and critical limb ischaemia, with the filing of two further clinical trial applications to progress the clinical development of these novel therapies. Michael Hunt, Chief Executive Officer of ReNeuron, told shareholders at the company's annual general meeting that the firm remains funded for the next 12 months, but will pursue a range of funding options including non-dilutive grants.

By MoneyWeek

published 11 September 2012

in Features

Shopfitter Havelock Europe saw group revenue from continuing operations rise by 17% to £38.5m in the first half of 2012 from £32.9m the year before. The underlying pre-tax loss narrowed to £1.2m from a loss of £2.8m the previous year. The good news is that the company made a profit after tax of £7.3m, versus a loss of £1.1m in the first half of 2011, after trousering an exceptional gain of £8.0m from the sale of its print division. Group net debt eased to £2.3m from £13.7m. "Looking ahead, the markets will continue to remain challenging. However, we are in a much stronger position to deliver continued progress in the second half aided by an increased order book both in the UK and overseas," revealed Eric Prescott, Havelock's CHief Executive Officer.

Engineering and steel castings firm Goodwin said its first quarter performance was in line with expectations. Revenue in the three months to July 31st rose to £30.39m from £26.00m in the corresponding period of 2011, while profit before tax surged to £3.76m from £2.43m a year earlier.