Shares in Vindon rise

Shares in Vindon, the Kingsway Business Park based healthcare compnay, have rise 4.6 percent after the firm, which provides controlled environment products and services, reports its full-year results.

Vindon reports revenues of 5.47 million pounds, down 0.7 percent from 2008, with pretax profit down 31.8 percent at 1.04 million pounds in the same period.

WH Ireland says: "Rising service related revenues balanced weakened demand for equipment purchases as pharmaceutical companies experienced restricted access to finance for capital expenditure. Margins were impacted by the cost of completing the transfer of items in storage to the larger premises in Rochdale."

"Management signalled their confidence in Vindon's prospects with a 10 percent increase in dividend per share (to 0.165 pence), a trend which we expect to be continued in 2010 and 2011," says the broker in a note.

WH Ireland highlights the acquisition of Westech in the U.S. as a catalyst for growth and says, "the share price has not yet responded to the potential performance uplift represented by this transaction."