News

Coal miner ATH Resources' interim turnover and profit both rose on the back of the opening of new mines.

Turnover for the six-months to April rose 35% to £31.2m on sales of 973,000 tonnes of coal, compared with 790,000 in the same period last year. Pre-tax profits for the period rose 19% to £2.3m.

The group said the results also benefited from the commissioning of its new conveyor, the longest of its kind in Europe. The interim dividend remains unchanged at 3.36p per share.

Specialist pharmaceutical company Allergy Therapeutics is on track to launch its hay-fever allergy vaccine in 2009 after recruiting patients for phase III trials.

Allergy has signed up 1,028 patients from 94 centres and 4 countries for the Pollinex Quattro Grass Phase III trial. The objective of the trial is to compare the efficacy of Pollinex Quattro versus a placebo.

"Initial results are expected around the end of Q1 2008 with full data expected in mid-year. These trials, if successful, are suitable for registration in both the United States and Europe," said the group.

Ambrian Capital is to significantly expand its commodities trading business to meet growing demands.

The investment bank added three new members to its metals sales team and one to its soft commodities team. Ambrian also said it will start to trade cocoa and coffee. "We believe that the fundamentals fuelling growth in the metals markets are still strong and we aim to capitalise on increasing investor interest in this area," said chief executive Tom Gaffney. Ambrian started trading sugar in January.

Immersion Technologies has started production on time at its new plant near Nanjing in China. "I am delighted to announce that production has now commenced at the Nanjing facility, the first step in the evolution of Immersion's corporate plan," said chief executive Craig Evans.

"The ability to design, develop, manufacture and supply HD-ATM products for existing consumer electronic companies is fundamental in ensuring that the quality of Immersion's technology reaches a wider consumer audience and maximises shareholder value," he added.

Beauty brands management service Core Business jumped after revealing it has won two new five-year distribution contracts and expects sales of £750,000 from Elite Models Fashion products during the current half year.

The new agreements will add Elite Models Fashion's colour cosmetics range and Princesse Lili haircare accessories to the existing distribution contract with Accessoires Beaute Cosmetique.

Core said it has also signed a three year deal to supply the colour cosmetics range into a leading high street retailer from September 2007. The initial pipeline order is expected to be in excess of £240,000, it added.