Small caps round-up: TEG, Deltex, Ultrasis

Loss-making green technology company TEG Group has entered into a further contract with recycling firm Viridor to process additional volumes of green and food waste in TEG's network of facilities. The contract will run until April 2014. The revenue over the term of the contract will depend upon the volume of waste delivered by Viridor over the period.

By MoneyWeek

published 4 April 2012

in Features

Deltex Medical, the oesophageal Doppler monitor maker, is to raise in the region of £1.5m through a placing of 6.1m new shares at 26p each. The company said it is expecting an increase in orders which will require an increase in working capital, hence the fund raising. The group added that UK surgical probe sales in the first quarter were up 40% year-on-year, a significant increase over both the compound annual growth rate of 20% since the launch of surgical probes in 2004 and the 16% increase in UK surgical probe sales achieved in 2011 compared to 2010. The UK surgical installed base increased by 38 monitors to 557 by March 31st 2012. Sales of probes in export markets in the first quarter were also ahead of 2011, driven by increased uptake in several of Deltex's larger export markets.

Interactive healthcare company Ultrasis has been hit hard by the spending slow-down in the National Health Service (NHS) and may need to take advantage of its own 'Beating the Blues' anxiety programme. Revenue in the six months to the end of January slumped to £0.51m from £1.44m at the interim stage the year before. The company slipped into the red, posting a loss before tax of £0.77m versus a profit the year before of £0.19m. Cash reserves are dwindling fast, and stood at £1.42m at the end of January 2012 versus £2.12m a year earlier. "The current structural reorganisation in the NHS has resulted in a pause in revenue but when the new structures, which are designed to focus on efficient deployment of resources, are fully operational we believe that the cost effective solution that 'Beating the Blues' offers will have direct economic relevance to our NHS customer," the company said.