News

Entertainment Rights said it has signed a major publishing deal with Penguin Group for its Tinga Tinga Tales animation.

The kids TV group said it will receive a cash advance against royalties as part of the deal, which includes the production of storybooks, novelty books, electronic books, audio books and annuals.

China Real Estate Opportunities said its income producing assets, which represent 75% of the AIM-listed property company’s total portfolio, have continued to perform strongly in the third quarter.

“The company is positioned to continue to perform well in the short and medium term,” said chairman Ray Horney.

ArgentVive has now completed the sale of Solcara to Access Intelligence for a total cash consideration of £750,000 and a net £720,000. The proceeds will be used to continue the restructuring of the company, which now comprises the Waterside Book Services, Retail8 and retailOn. ArgentVive acquired Solcara in December 2007 for £4.5m.

Video and DVD editing group Cheerful Scout slipped into a full-year loss, but has seen an improvement in its financial performance during the second half.

Investment and subsequent write-downs of £346,076 in relation to the nVision strategy product resulted in a pre-tax loss of £565,698 for the year to 30 June on turnover of £1.57m. Last year the firm made a £115,536 profit on revenue of £2.1m.

Software testing company SQS Software Quality Systems has announced “significant” new contract wins.

It struck the deals with a tier one investment bank, a global car manufacturer, multinational supplier of precision bearings and an eGovernment project in India.

Marketing software provider Alterian said customers are increasing financial scrutiny over buying decisions and it is possible there will be some changes in the rate and timing of pipeline conversion.

Pre-tax losses for the six months to September increased to £2.1m from £1.4m before on revenue that increased to £10.3m from £5.3m previously.

ArgentVive has now completed the sale of Solcara to Access Intelligence for a total cash consideration of £750,000 and a net £720,000. The proceeds will be used to continue the restructuring of the company, which now comprises the Waterside Book Services, Retail8 and retailOn.

Sibir Energy has hit a new production record at its jointly owned Salym fields in western Siberia.

Production at its 50% owned Salym fields has exceeded 140,000 barrels of oil per day (bopd). In combination with production from Sibir subsidiary Magma at the Yuzhnoye fields in western Siberia, Sibir’s share of total daily production now exceeds 76,000 bopd.