News

Animation company DQ Entertainment reports few effects from the credit crisis as moved into profit in the first half of the year.

The firm reported a pre-tax profit of $400,000 in the six months to September 30, compared with a loss of $100,000 over the same period a year ago, as revenue climbed to $14.4m from $8.9m.

"Demand for our work continues to remain high with levels of new business referrals and contract renewals strong," chairman and chief executive Tapaas Chakravarti said.

"The market for animation and gaming content has been largely unaffected by the current banking crisis with the majority of our contracts running over a two-to-three year period with budgets already agreed and allocated."

Shares in Hartest Holdings fell sharply after the medical equipment supplier said it had seen lower sales in some areas of its business during late September and October.

"In the face of a continuing weak global market economy, we currently anticipate the company will report either a slight profit or a small loss for the year," the firm said.

CMR Fuel Cells has signed an exclusive Joint Development Agreement with a leading Asian Original Design Manufacturer for the design and development of a stand-alone hybrid power system. Under the terms of the agreement, CMR will receive a purchase order for a number of prototype units to be supplied in 2009 as well as a letter of intent for 10,000 units once the new generator is developed.

Avis Europe's group commercial director Simon Palethorpe has resigned from the company after four years of service, effective from 21 November 2008.

Promotions group Landround has appointed appoint administrators and suspended trading in its shares on AIM. In October, the group said it was considering the sale of some or all of its businesses after warning it would make a second half loss of about £0.55m.

Real estate investment manager Speymill said profit for the year as a while will fall short of market expectations.

The group said there continues to be a significant downturn in the construction sector together with a continuing severity of UK economic and market conditions, including a substantial rise in corporate receiverships and tighter credit conditions.

These macro factors along with make the outlook for that company's results for the year to 31 December 2008 uncertain.

Cleaning products developer Byotrol said despite the progress made, it is disappointed with the sales in the half-year, which increased to £387,852 from £214,995 over the same period last year. Pre-tax losses for the period increased slightly to £1.45m from £1.43m before.

Steam cleaning and coatings technologies specialist Proventec blamed the weak pound for a slide into losses in the year to30 September.

The firm reported a pre-tax loss of £649,000 compared with a £391,000 profit the previous year (which included £615,000 from the sale of a business), even as turnover climbed to £8.18 from £5.82.

ReGen Therapeutics is to focus on Colostrinin, a sheep milk-derived treatment for Alzheimer's disease, as it believes it is the quickest way for the company to become a sustainable business.
Aurum Mining confirmed that it had received a number of approaches after its share prices soared. The miner however said that none of ten approaches are currently acceptable to recommend.