News

Computer games and music magazine publisher Future sees annual results in line with market expectations.

It added the group strategy remains on track, despite continued tough trading conditions, as it focuses on portfolio management and its digital division. "Future continues to prove resilient, reflecting the group's focus on areas of special-interest," it said in a company statement.

London based oil and gas explorer and developer Max Petroleum says it has received multiple offers on two of its Kazakhstan licenses, which may or may not lead to one or more commercial transactions. The Kazakhstan-focused group has an ongoing programme to farmout up to 25% of its Blocks A&E licence and up to 50% of its Astrakhanskiy licence in western Kazakhstan.

"The company is currently evaluating the various offers and expects to reach a commercial deal on one or both licenses," it said in a statement.

Printing firm St Ives has sold its Dutch music and multimedia business to the management team of St Ives Uden for €2.8m (£2.1m) in cash. Demand at the unit had been subdued for some time and the business has been under close review, said the company. It lost €0.9m (£0.6m) in the 53 weeks to 3 August 2007.

Bespoke IT services provider SciSys aid it expects results for the first half of 2008 will show revenues ahead of expectations, while profits should be on track to meet full-year targets.

Trading in AIM-listed ice cream maker Hill Station has been suspended following the resignation of its nominated adviser. Hill Station said it is looking to raise funds in the near future to provide it with more working capital. The company added that finance director, Robert Alstead, left the company on 19 September.

Operations management software company EG Solutions moved back into the black in the first half of 2008, adding orders for the second half are 25% higher than at the same time in 2007. Profits came in at £53,000 compared with a loss of £638,000, on revenue up 10% at £2.27m.

Japan-focused short-stay hotel operator, Japan Leisure lifted NAV to 54p in the six months to June, boosted by weak sterling on translation. Revenue per room (Revpar) dipped slightly to 26.4% from 28.7% with occupancy flat at 253%. Japan Leisure said Revpar revenue dipped because more guests are coming for shorter stays at some hotels at the expense of overnight guests.

Clean power consultant Gas Turbine Efficiency posted a maiden profit of $367,000 in the half year to June, as sales jumped 58% to $14.7m. Significant revenue increases in both the industrial sector and a first time contribution from the Advanced Fuel & Combustion business boosted sales. "The group entered the second half with a solid momentum of new orders which is expected to contribute to stronger revenue growth for the full year," it added.

Germany-focused mobile phone contract reseller GetMobile has paid a maiden dividend of 5c after pre-tax profits jumped 47% to €1.65m, though sales dipped a little at €49m from €50m. The group, which is paid commission by mobile network operators, says the figures included €0.2m of start-up losses for price comparison site premingo.de. GetMobile is to give up its Irish listing so that it can gain a Deutsche Borse listing.