News

Business software group Atlantic Global jumped after it said it will post year-end profits, adding that good trading has continued since the year-end.

Pre-tax profit for the year to December is expected to be no less than £275,000 against last year's £51,000 loss on turnover that is seen rising 17% to £2.3m.

As a result of returning to profitability, the group will propose a dividend of no less than 0.25p per share for 2007.

The second half trading performance represented the most profitable of the last three years six month trading periods, it said. "Profitable trading has continued since year-end, in line with company expectations, added the group.

Contract services provider office2office saw full year pre-tax profits fall to £9m from £10.3m last time but said it is in a strong position following its strategic review.

"The strategic review has delivered clarity of vision and purpose and we expect future acquisitions to deliver growth," said chief executive Simon Moate.

"Our market will remain competitive but our commitment to contain operating costs and drive efficiencies should enable us to deliver our growth plans," he added.

The group recommends a final dividend of 6.8p per share compared with 6.4p last time, making a total dividend of 10p per share.

Shares in Dev Property Development (DPD) rallied after the investor in Indian real Estate agreed to be taken over by Indiabulls Real Estate (IBREL).

Under the terms of the deal, DPD shareholders will receive 0.12091 new IBREL GDRs for each DPD share.

"The independent directors of DPD are pleased to recommend this offer to the DPD shareholders, which is at a significant premium to the current market price," said chairman Rishi Khosla.

Water treatment provider Hydro International said record financial results in 2007 were generated through organic growth from core products in both stormwater and wastewater businesses.

Pre-tax profit for the year increased to £2.5m from £1.8m last year on revenue that rose to £26m from £22.4m previously. Final dividend of 2.8 pence per share is a 22% increase of last year's figure.

"As with all businesses the recent turmoil in the world economy presents the Group with a degree of uncertainty and additional potential challenges," said the group.

"However, the fundamentals of the business are very strong, the Hydro business model is serving us well and delivering profitable growth and we look forward to achieving further progress in the coming year," it added.

IT training group Xpertise saw pre-tax profit jump by 103% and said it looks forward to 2008 with optimism. Pre-tax profit rose to £646,000 in the year ended 31 December from £319,000 last time on revenue up 40% to £22.3m.

Ten Alps said that the Department for School, Children and Families has accepted Education Digital 2's, a consortium in which the media firm holds a 75% interest, proposal for the Teachers TV project.

"However as a requirement of law it has now imposed the 'Alcatel' standstill period which will be a minimum of 10 calendar days (commenced Monday 25 February) before the final confirmation of who has preferred bidder status and any contract negotiation can begin," it said.

Information and knowledge management company Idox said orders for the first quarter of the current financial year are ahead of the same period last year and it continues to trade in line with market expectations.

Shares in Air Music and Media jumped after the group admitted that it has received an indicative approach.