News

Online ethical fashion retailer Adili saw a 388% rise in sales in the four weeks to 21 December and said strong trading has continued.

The group shipped 2,357 items, compared to 835 last year, arising from 1,050 orders during the period.

"Given the increasing share of the retail market being taken by ethical consumerism together with the continued rapid growth of online retail sales, we remain confident and excited about the prospects for Adili," said chief executive Adam Smith.

Vodka group Blavod Extreme Spirits said case of spirits sold in the third quarter rose 18% while on a nine-month basis it was 27% higher.

Blavod Black Vodka case sales increased 21% in the three months and said duty free worldwide continued to provide the strongest growth driver for the brand.

"Margins and overheads in the UK business are expected to remain at levels similar to last year," it said. It added current trends are expected to continue in the remaining three months of the year.

Leed Petroleum said drilling results from the Eugene Island A-6 development well in the Gulf of Mexico should be commercially productive and exceed pre-drill expectations.

"The company has completed gamma ray/ resistivity logs on the primary target sand which, in conjunction with hydrocarbon shows from the primary target sand, provide the company with compelling evidence that the primary target sand will be commercially productive and should exceed pre-drill expectations," said the group. The well has been drilled to a measured depth of 15,612 feet.

Gold explorer Persian Gold said the second phase of trenching and drilling results at Chah-e-Zard, Iran has shown that a near surface oxide gold deposit is present in the southern area. "If the 22 holes drilled confirm the presence of commercial gold at depth, we will move to pre-feasibility stage," said the group.

Landore Resources gained after the miner said infill drilling on the historic B4-7 nickel-copper-cobalt-platinum group elements deposit in Canada has confirmed the continuity of the mineralisation.

Drug group Ark Therapeutics is to buy Helsinki-based company Lymphatix for €2.25m in shares. The acquisition gives Ark royalty-free exploitation rights to the vascular endothelial growth factor genes for developing gene-based medicines in the angiogenesis and lymphangiogenesis areas.

CSS Stellar has sold its 75% stake in brand designer GEM Minneapolis to Studio One, a company owned by David Kuettel, who is the existing 25% minority shareholder in GEM Minneapolis.

Consideration for the CSS 75% stake is $1.8m paid by $1.1m cash and a further $700,000 in three annual instalments between January 2009 and January 2011.

Network traffic monitoring firm Endace has launched its Ninja Central Management Server (CMS), which enables organisations to manage centrally hundreds of NinjaProbe appliances through a browser-based console.

The group said the CMS allows administrators to directly monitor and maintain the performance of critical applications and infrastructure, without incurring the cost of multiple management platforms or expensive site visits.