The Morning News Update with ASOS, IP Group and WH Ireland

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Ultra Electronics (ULE) – the EMS Development Corporation business, located in Long Island, New York, USA has been awarded a multi-year contract totalling over $21m from General Dynamics Electric Boat Corporation.

IP Group (IPO) – portfolio company Diurnal Limited has announced positive results from a 6-month Phase 2 clinical study in16 adults suffering from the rare disease Congenital Adrenal Hyperplasia.

Small Caps

Asos (ASC) – re: fire at Barnsley warehouse. None of the technology, automation or structure of the building has been affected by the fire. Initial estimates are that approximately 20% of the total stock has been compromised by fire damage. Resumed taking orders at 2am this morning. The firm is fully insured for loss of stock and business interruption.

WH Ireland (WHI) – Revenue growth in both the Private Client and Corporate Broking divisions has been encouraging and has continued the trends witnessed during 2013. Profit before tax after specific reorganisation costs incurred during this period will be ahead of the comparable period a year ago.

Vitesse Media (VIS) – posts a loss of £177,508 for the year to January 2014.

Accumuli (ACM) – trading EBITDA up by 29% at £3.6 million in the year to March, dividend up by 15% at 0.46p per share.

Omega Diagnostics (ODX) – Adjusted profit before tax up by 41% to £1.1m in the year to March.

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