This week: Look forward with Clarity, a round of applause for EnCore and speed ahead with Transense 

Clarity Commerce Solutions (LON:CCS) (CCS 38.5p/£15.6m)

Clarity Commerce Solutions, the point-of-sale software solution provider, has provided their audited results for the year to 31 March 2010. The company were able to demonstrate strong growth of 67% in operating profit to £1.9m, whilst generating a net cash position of £1.3m. Earnings per share for the company before the tax credit stands at 3.63p (2009: 1.47p). Pleasingly, the company has secured strong contracts during the year, with Merlin Entertainments group being particularly noteworthy. The company has revised their product strategy to include its products and services under one core offering known as ClarityLive, which, together with comprehensive support package, provides a fully integrated consumer purchase experience. Post year end, the company has reacquired Cyntergy Services Ltd, the IT helpdesk and training services company, to ensure the offering is as comprehensive as can be in the market place. With the Merlin contract having been awarded late on in the year and the effects of the Cyntergy acquisition yet to reflected, we think CCS has clear potential to grow quite nicely.

Encore Oil (LON:EO.) (EO. 47.5p/£137.9)  

EnCore released further positive news regarding the recent discovery at the Catcher exploration well located in the UK Central North Sea block 28/9.  As an update to the initial report a few weeks ago about a minimum of 240 feet oil column with light oil, results from the Catcher East side-track show excellent quality oil bearing sandstones, indicating 82 feet of net hydrocarbon play over an interval of 236 feet.  Pressure data further indicate a common reservoir between Catcher East and the original well.  Some reserve estimates for EnCore’s share of Catcher have doubled from 60 to 120 million barrels.  The consortium has decided to drill yet another well to the south-west so watch this space.

Immupharma (LON:IMM) (IMM 72p/£58.4m)

Cephalon Inc, the development partner for Lupizor, the Company’s furthest advanced drug candidate, has begun the recruitment of patients for a phase IIb trial in the US. This trial is an additional study designed to allow the FDA and other US-based investigators to carry out further evaluations prior to the commencement of phase III trials later in the year and will form part of the overall submission…

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