News

Electrical goods maker Alba said with the generally worsening economic climate and reduced demand, it is taking a "very cautious" approach to the likely level of demand for consumer electronics over the Christmas selling period.

"However the group's careful approach to demand will mean that stock levels remain under tight control, which is reflected in a net cash position, as at 31st October, of £22m." it said.

Satnav supplier Trafficmaster said accounts for the quarter to September 2008 show group revenue was 20% ahead of the equivalent period in 2007, with gross profits up 15%.

"Despite an economic background which creates uncertainty for the business, the proven ability of the company's Fleet Director product to reduce fleet management costs offers real attractions, and the company confirms that it continues to trade in line with its expectations," said the group.

Meat packaging business Hilton Food said trading in the 40 weeks to October has been in line with expectations. "The trading outlook of the group for the remainder of the financial year continues to be in line with the board's expectations. We continue to explore further opportunities to grow our business in both domestic and overseas markets," it added.

Shares in catering equipment group Lincat slipped as it warned order levels around the group have slowed in the second half of the year.

Group turnover between July and December 2008 will show little change on the levels achieved from January to June 2008 and the group is experiencing some pressure on gross margins.

"Operating costs are expected to be lower in the second half of the year. Overall, we now anticipate that July-December operating profits will be at a similar level to those recorded in the first half".

Housewares retailer Dunelm's sales rose by 4.3% with like-for-like sales down by 3.9% in the 18 weeks to November, though was an improvement on earlier.

"This LFL sales performance represents an improvement since our last trading update, when we reported an LFL sales decline of 5.7% after 10 weeks," Dunelm added. "Like most retailers, we have seen conditions become even more challenging in recent months, with customers increasingly careful about their spending," chief executive Will Adderley said.

Radio group UTV reports revenues in the ten months to October grew by 6%. Excluding the impact of the FM104 and Tibus acquisitions, which completed during the period under review, like for like revenue and operating costs were broadly in line with last year. "While it remains difficult to predict revenue for the rest of the year each of our operating divisions continues to perform well relative to their peer groups", UTV added.

Investment group Braemar cut losses in the six months to September to £58,000 from £287,000. Revenues rose to £1.27m from. £231,000. Braemar will use the OEIC to launch further funds during the remainder of the financial year, the first of which will be a UK student accommodation product. The directors look forward to reporting further improvements in the group's performance in the second half, the statement added.