UK SMALLCAP ROUNDUP: President Petroleum Co Ups Reserves

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 PRESIDENT PETROLEUM CO. PLC (PPC.LN), an oil and gas explorer, Monday increased its reserves in the U.S. more than four-fold to 12.9 million barrels of oil equivalent. It added it agreed to buy exploration and production rights at East Lake Verret. At 1404 GMT, shares +3.5 pence or 5.6% at 66.5 pence. ARENA LEISURE PLC (ARE.LN), a racecourse operator, said it expects to take a GBP200,000 hit to profit this year and GBP800,000 next year due to a cut in industry funding. The company said first-half pretax profit fell 15% on the year, in part due to the cost of its new hotel, and said it remains cautious about the outlook for attendance numbers and spend per head at its tracks. At 1404 GMT, shares -3.5 pence or 9.5% at 33.5 pence. SENIOR PLC (SNR.LN), a U.K. aerospace engineer, said it expects 2010 profit to beat market forecasts now production rates for major new aircraft like Boeing Co.'s (BA) 787 Dreamliner are beginning to take off. At 1404 GMT, shares +5.9 pence or 4.6% at 133.4 pence. ULTRA ELECTRONICS HOLDINGS PLC (ULE.LN), a manufacturer of defense electronics, raised its dividend 10% and said it is confident about its prospects because governments are spending a higher proportion of tight defense budgets kitting out their armed forces with sophisticated electronics and tackling threats like cyber-terrorism. At 1403 GMT, shares +29 pence or 18% at 1,643 pence. XCHANGING PLC (XCH.LN), a business outsourcing company, said it expects full-year revenue growth to be slightly lower than previously anticipated as its customers remain cautious, but that cost cuts will enable it to meet its pretax profit expectations. At 1403 GMT, shares -26 pence or 13% at 174 pence. FIDESSA GROUP PLC (FDSA.LN), a maker of trading systems, posted a leap in first-half pretax profit aided by effective cost management, but said while its biggest customers are now spending again there is lingering caution among its smaller clients. At 1403 GMT, shares +24 pence or 1.6% at 1,487 pence. BELLZONE MINING PLC (BZM.LN), an iron ore mining and exploration company, said it agreed terms for a multibillion dollar financing package to fund the development of a mine in Guinea. Bellzone said China International Fund Ltd. has agreed to provide $2.7 billion in financing to pay for the construction of a railway, port and associated infrastructure at the Kalia project and another $1.2 billion to build the mine. At 1402 GMT, shares +1 pence or 3.3% at 40 pence. GLOBO PLC (GBO.LN), a maker of software for mobile phones, said its first-half revenue performance topped its management's expectations surging 50% on the year following the company's expansion in to the international mobile market. At 1402 GMT, shares +1.5 pence or 16% at 10.75 pence. MANAGEMENT CONSULTING GROUP PLC's (MMC.LN), a professional services firm, said net debt is expected to fall by as much as 20% in the second half, Finance Director Craig Smith said Monday, after strong collections of payments helped cut its borrowings in the first half. At 1402 GMT, shares -0.75 pence or 3.1% at 23.25 pence. MASAWARA, an investment company focused on Zimbabwe, said it's aiming to raise $25 million in an initial public offering on London's junior Alternative Investment Market August 16. Masawara, which invests in commercial property in Harare and owns a stake in TA Holdings Ltd. (TAHLDS.ZB), an investment company, said it expects to have a market capitalization on admission of $80 million. KELLER GROUP PLC (KLR.LN), a construction engineer, said it expects revenue from the U.S. to grow in the second half of 2010, but margins will remain under pressure until next year. Monday it reported a 72% fall in first-half pretax profit following a slump in building work in the U.S. At 1401 GMT, shares +26 pence or 4.7% at 575 pence. DJ UK Smaller Cos +0.6% AIM +0.4% -By Jason Douglas, Hannah Benjamin and Rachael Gormley, Dow Jones Newswires; +44 (0) 20 7842 9272; uksmallcaps@dowjones.com (END) Dow Jones Newswires August 02, 2010 11:00 ET (15:00 GMT)