News

Software group China Eastsea has blamed the Olympic Games for subdued trading during the six months ended August with results below management expectations.

Contract negotiations with local government bodies and other companies have taken longer to complete, it says, though August itself was better. "The company has a strong order book going forward and although it is too early to determine the outcome for the full financial year, the directors expect to see a solid second half," it added.

Construction services group May Gurney's first half to September has been in line with expectations. "Local Authority spending in our sectors remains robust with good bidding prospects, and despite the short term volatility related to the rebidding processes in Utility services, the regulatory commitment to these areas makes us confident about the outlook," it said. The secured and framework forward order book is now worth £1.25bn, it added.

Biopharma contract manufacturer Angel Biotechnology has met all the criteria necessary to fully comply with storage and processing standards currently required by the Human Tissue Authority. Angel is now fully compliant to manufacture those treatments which fall outside the Medicines and Healthcare products Regulatory Agency's (MHRA) remit.

"We believe ability to manufacture HTA-regulated therapies will strengthen our current client relationships and present many new business opportunities to Angel," said Gordon Sherriff, chief operating officer.

Business communications provider Alternative Networks said trading and cash generation for the year to September remained robust, in line with management expectations.

"The group ended the year with a strong performance in Q4, seeing good momentum in terms of new business signed and significant progress made across most metrics, particularly in Mobile and Fixed Networks Services, even when measured against the strong start to the financial year," it said.

It added that it is confident of its growth prospects as it moves into the next financial year.

Surface engineering technology provider Hardide said overall trading for the year to September has been in line with market expectations and it remains positive on the outlook for the future.

Orders are returning to previous levels, following the unexpected reduction in demand from a major UK customer, it said.