News

Software group Access Intelligence is to sell four of its subsidiaries to concentrate on its service software arms Due North and MS2M.

The York-based company saw pre-tax losses in the six months to 31 May widen to £118,000 from £89,000 on turnover that climbed to £1.94m from £1.74m.

Turnover from Due North and MS2M rose to £672,000 from £560,000.

Public sector software and services provider IDOX has appointed William Edmondson as chief financial officer with effect from 29 September.

Edmondson is currently finance director for the Europe, Middle-East, India & Africa Region of Autodesk.

Sensor networks company ViaLogy has signed a contract to deploy its Sensor Policy Manager (SPM) product as the sensor integration engine as part of a Safety and Security system for Los Angeles County.

Semiconductor group CML Microsystems said first quarter trading is in line with forecasts, adding that it expects a further improvement in its performance this year.

Goldshield said it has been a year of 'significant progress' for the drug distributor, adding that the business has performed well.

The group also announced the appointment of Ram Swamy as chief financial officer.

Heavy oil assets developer Nautical Petroleum secured a drilling rig slot from Senergy in October 2008 for drilling a well on the Hydra prospect in Block 3/27a.

Residential property services provider LSL Property fell into half-year losses of £798,000 versus profits of £12m last year.

"The group has reported a satisfactory first half result in a very difficult market. Although house purchase activity levels have stabilised in recent weeks (albeit at a very low level) after nine months of declines, we expect market conditions to remain challenging for some time," it said.

Africa-focused mining services provider MDM Engineering reported a profit in its maiden results and said it was well placed to take advantage of the commodities boom.

The company posted pre-tax profit of $3.2m for the sixteen months to 31 March, on revenues of $13.6m.

The company paid a dividend of 4 cents a share.

"To report a profit in our maiden results is satisfying and shows the strength of the MDM business model," chief executive Grant Lowman said.

"We are pleased to be rewarding our investors who supported the group at our floatation in May and we look forward to generating further dividends in the future."

Cape Diamonds said its chief executive David Gadd-Claxton has indicated his intention to step down and become a non-executive director of the group from 22 August.