Axis-Shield has sold its Dorset-based subsidiary, Plasmatec Laboratory Products, to Cambridge-based Lab21 for an undisclosed consideration. Axis-Shield said the sale will help it to increase focus on the innovative products in its Point-of-Care and Laboratory Divisions.

Central China Goldfields has identified a fourth mineralised centre called West Guqing on its Gangjiang licence area.

"We have now identified further mineralisation in trenches between East Nading and Guqing, between Guqing and West Guqing and to the west of Gelong. With this new and significant discovery, the presence of mineralisation has now been identified along at least 2.5 kilometres and strengthens the likelihood that the total 5 kilometres corridor surrounding the central rhyodacite stock in Nading may be mineralise," said managing director Jeff Malaihollo.

Commercial Properties has signed a memorandum of understanding with UNIDO (The United Nations Industrial Development Organization) for constructing, funding and letting out of an exhibition/conference centre at Manston Business Park, Manston, Kent.

Fleet tracking software group Trafficmaster has seen a solid start to 2009 despite tough market conditions with sales cycles lengthening. Overall, combined UK and US Business Services revenues were up 24% year-on-year to the end of April, with Consumer Services revenues down 11% year-on-year, but it still expects to meet expectations this year.

A change in revenue recognition will mean results restatement for 2008 being stated with revenues trimmed from £55.8m to £55.3m and operating profit from £6.1m to £5.6m.

Vocational training provider Melorio saw strong organic growth in all its businesses, helping full-year profits up to £7.6m form £1.7m before. Revenue surged to £31.4m against £7.8m last year.

"Well positioned for future growth: strong pipeline of learners from existing and new employer relationships; further development of relationships with existing and new funding partners," said the group.

Oil and gas exploration company Ascent Resources has started drilling the Gazzata-1 well near the city of Modena in Italy's Po Valley. Drilling is expected to take about three weeks to evaluate the primary target, a large gas prospect that is estimated to be at a depth of 2,100m.

Marketing communication services outfit Communisis said demand for its Technology and Services offerings remains strong, but performance in other parts of the business is mixed.

Forward revenue visibility in the company's Transactional Print business remains good but the promotional cheque mailshot revenues have tailed off more than expected, following FSA guidance on their usage.

Demand for Direct Mail continues to weaken, as expected, while volumes in the Print Sourcing segment are down, albeit with minimal impact on profits.

HydroDec, which provides advanced oil and chemical process technology, remains confident of making an operational profit this financial year on the back of improving market conditions. The company said it its plant in Canton in Ohio is approaching 100% near term operational capacity, prompting the board to consider a second US plant or the expansion of the Canton facility.

Insecticide firm Tyratech has extended its partnering agreement with pest control company Terminix. The two companies will work together on the development and commercialisation of TyraTech's Nature's Technology products in the US.