News

Oilfield services firm Global Marine Energy said it anticipates 'significant' profit in the second half despite widening losses in the first-half.

Pre-tax losses for the first half to September rose to £3.9m from £486,000 in the same period last year on revenue that rose to £5.7m from £4.1m previously.

"The group expects to make a significant profit in the second half of the year and the Board is optimistic that GME is entering a period of sustained profitability and wish to thank the shareholders for their patience and continued support during the implementation of the strategic plan," it said.

Telecommunications firm Spiritel said it has appointed Steven Maine, who joined the board in April 2006, as its non-executive deputy chairman.

"His vast experience of the telecoms and media sectors has been of considerable value to the company's board and to the development of the company" said the group.

Gasol said Development Corporation (Afgas) and Sociedad Nacional de Gas ('Sonagas') signed a joint venture agreement to monetize gas supplies from Nigeria, Cameroon and Equatorial Guinea through infrastructure and facilities in Equatorial Guinea.

The group said it marks a critical step in its ambitions to capitalise on growth in the Liquefied Natural Gas sector through its investment African LNG, which is an Afgas subsidiary.

Drug discovery technology group Cyprotex said it is pleased that 2006 has been another 'successful year' with full year revenues expected to meet market expectations.

"Important opportunities within the ADME/Tox (Absorption, Distribution, Metabolism, and Excretion/Toxicity) screening market have been addressed through a further significant expansion of Cyprotex's global customer base, which now exceeds 100 in number," it said.

Packaging and security products supplier API said refocusing of the group is yet to be reflected in the results as it slumped into losses for the year to September 2006.

Pre-tax losses came in at £1.79m compared with the profits of £1.58m last time on group sales that fell to £101m from £105.5m previously.

Business communications service provider Alternative Networks said pre-tax profit rose 58% to £6.7m from £4.3m previously on turnover that rose 42% to £65.9m.