News

Exhibition and conference organiser Expomedia reported a rise in first-half pre-tax profits and said the outlook for the rest of the year is positive.

Pre-tax profit increased to €0.6m in the six month ended 30 June from €0.1m previously. Turnover rose 19% on continuing activities, excluding share of joint ventures, to €18.5m.

"The group's trading, which is historically second half weighted, is showing a strong performance from repeat business and forward bookings for 2008 are up 19% compared to the prior year period," said the group.

Theme park queuing systems supplier Lo-Q has gained more than a third of its value on news that results for the year ending 31 December 2008 will be "significantly" ahead of current market expectations.

Following the end of the main trading season in the theme parks in which it has its systems installed, Lo-Q says unaudited profit before tax at the end of August was more than 100% of market forecasts.

Software services was one of the main drivers of growth during the first half at Globo, the provider of information and communications technology services admitted to AIM last December.

Pre-tax profit more than doubled to €860,000 from €400,000, as expected, on revenue up 76% to €7.21m. "The second half of 2008, traditionally the stronger trading period, has started with the benefit of a significant order book and good visibility of revenues through to the year end," it said.

Revenue fell by £1.1m at IFA and pension specialist Lighthouse Group during the first half of 2008 to £25.5m, causing pre-tax profit to fall from £786,000 to £442,000.

But executive chairman David Hickey said: "The prudent strategy we have already put into action should protect original trading expectations for 2009 and beyond, while the merger with Sumus Plc has created scale with over £6.3bn in assets under advice."

Hydrodec, which provides advanced oil and chemical process technology, saw pre-tax losses grow to £1.86m from £1.15m in the first half. Revenue leapt to £2.04m from £0.7m in 2007.

"As demand and recognition for SUPERfine (oil) grows in the US and the worldwide increase in demand for transformer oil continues, Hydrodec is now well positioned to provide a sustainable resource for its customers," said chairman John Gunn.

Medical technology firm Lifeline Scientific, which listed on AIM in January, has posted a net loss of $5.68m for the first half of the year on revenues up 27% to $3.5m.

"Lifeline continues to perform in line with our expectations and we are confident of delivering another strong performance in the second half of 2008," it said. Cash at the end of the period stood at $3.1m.

China-focused shipping and container terminal company Arko expects a stronger second half after interim profits declined.

In the first half of the year pre-tax profit fell to $0.94m from $1.25m on turnover that rose to $6.33m from $6.08m.

"In summary, on the assumption that trading continues at existing levels, the board expects to deliver a satisfactory outcome for the current year," said Qin Shun Chao, chairman.

AIM-listed resource company Carnegie Minerals said the costs of seeking legal redress for the "wrongful cancellation" of its joint venture mining licence in the Gambia has reduced cash to critical levels, and it will not be able to continue trading without a successful equity fund raising.

Carnegie saw first half losses more than double to £0.95m from £0.42m a year earlier. Cash at the end of June stood at £0.4m. Revenue dipped from £7.8m to £5.6m.

Fieldbury, formerly Freeplay Energy, narrowed pre-tax losses to $882,000 in the six month ended 30 June compared with a loss of $1.64m last time and said it is positive about its prospects during 2008 and beyond.