ALY.L Share News (ALY)

Dow Jones smallcap news is now on Twitter, allowing you to catch up on the news away from your desk. Go to http://twitter.com/DJ_UK_Smallcaps The number of companies leaving London's junior Alternative Investment Market has fallen 18% in the second quarter but delistings still outnumber new listings by three to one, a report said Monday. According to a report by City law firm Trowers & Hamlins and accountants UHY Hacker Young, this is the second consecutive quarter of falling delistings from the junior market. At the peak of the recession, AIM companies were delisting at the rate of around 70 a quarter. ST. MODWEN PROPERTIES PLC (SMP.LN), a property investor and developer, expects to maintain or even increase its dividend payments, Chief Executive Bill Oliver said, after the company resumed dividends for the first time in two years. "The board would not have approved a dividend if we couldn't maintain it or even grow it," he told Dow Jones Newswires. "This is the biggest message for our shareholders," he added. At 1041 GMT, shares +1.9 pence, or 1.1%, at 174 pence. More than eight out of ten U.K. mid-capitalization companies expect an increase in profit over the next two years, driven largely by new products, services and technology, a report by business services firm Ernst & Young LLP said. U.K. mid caps plan to spend an estimated GBP109 billion on new products and services between now and 2012 to boost earnings as the world emerges from recession, according to a poll of 500 companies by pollsters YouGov PLC (YOU.LN) on behalf of Ernst & Young. NCC Group PLC (NCC.LN) posted an increase in profit and revenue for its fiscal 2010, and said it expects revenue to continue to grow in line with market expectations. NCC, which provides software security services, expects revenue growth to continue in all its regions and divisions in the coming year, and is "comfortable" with current market expectations for fiscal 2011, Chief Executive Rob Cotton told Dow Jones Newswires. At 1042 GMT, shares +28.5 pence, or 6.9%, at 442 pence. THOR MINING PLC (THR.LN) said it has found the greatest concentration of high gold values to date from exploration work at its Dundas gold project in Western Australia. The minerals exploration company, which last month raised GBP2.7 million to fund the exploration and evaluation of its Dundas Project, said the full survey results show clusters of elevated gold values. At 1043 GMT, shares +0.13 pence, or 17%, at 0.88 pence. ELEKTRON PLC (EKT.LN), an electronic equipment distributor, said its first-half pretax profit is expected to "significantly" exceed its management's original expectations, with the company confident it can also outperform over the full-year. At 1043 GMT, shares +2 pence, or 10%, at 22 pence. DODS (GROUP)PLC (DODS.LN), a business media and events group, said it has received approaches from a number of third parties which could lead to an offer for the company. Dods, which was previously known as Huveaux and specializes in political publications like Dod's Constituency Guide, The Parliament Magazine and Dod's Civil Service Companion, said there is no certainty at this stage that any offer will be made. At 1043 GMT, shares +1.25 pence, or 12%, at 11.5 pence. CHINA FOOD CO. PLC (CFC.LN), a cooking and dipping sauces maker, has secured and fully drawn down a 30 million yuan ($4.4 million) bank facility, which it said will enable it to scale up production and fill more silos at its new factory in Shou Guang City. At 1044 GMT, shares +3.5 pence, or 9.7%, at 39.5 pence. XP POWER LTD. (XPP.LN) said second-quarter revenue increased 35% on the year and said it expects revenue growth to accelerate in the second half as existing programs ramp up and new customer programs begin production. At 1044 GMT, shares +51.5 pence, or 8.9%, at 629.5 pence. GB GROUP PLC (GBG.LN), a U.K. identity verification and maintenance company, plans to move to London's junior Alternative Investment Market from the main market, saying the move would give it more flexibility to make acquisitions. GB said this would also lead to lower transaction costs and simpler administration for a company of GB's size. At 1044 GMT, shares flat at 26.25 pence. LAURA ASHLEY HOLDINGS PLC (ALY.LN), a fashion and home furnishings retailer, said its Laura Ashley Ltd. subsidiary has agreed a deal to sell and then lease back a property in Leicestershire, U.K., at a GBP4 million profit. At 1045 GMT, shares +0.5 pence, or 4%, at 13 pence. DJ UK Smaller Cos -0.2% AIM -0.3% By Rachael Gormley, Tommy Stubbington, Jason Douglas & Hannah Benjamin, Dow Jones Newswires; +44 (0) 20 7842 9272; uksmallcaps@dowjones.com (END) Dow Jones Newswires July 05, 2010 07:30 ET (11:30 GMT)