Pick of the early market news
Mobile messaging provider Synchronica estimates revenues rose 742% in the three months to 30 September. The firm says the revenue figure is $6.6m. Over five acquisitions in the last three years, the board says it is now time "to focus on organic growth, profitability and cash generation."
Seeing Machines Ltd, which develops facial imaging software, says revenue has increased 60% to A$7,161,938. The company's final results, posted this morning, show this pushed gross profits up to A$4,875,031. Chairman Bill Mobbs said: "we are confident of continued revenue growth in 2012 along with an improved financial performance."
Performance materials group Low & Bonar says "overall demand for our key products continues to be robust" in an interim statement published this morning. The civil engineering and flooring markets are said to be doing well, but demand in building and industrial markets "continues to be subdued".
Profit before tax is up 42% to £11.2m, with underlying profit and revenue 20% ahead. The company has increased the interim dividend by 40% to 0.7p per share. Chief executive Steve Good said: "We are confident of delivering another year of substantial progress."
The market was on the up heading into the weekend. The FTSE 100 closed up 62 points on Friday at 5466. In the US, the Dow Jones Index closed up 167 points at 11,645, completing a rise of more than 6% in the last two weeks after hitting a one year low on 3 October.