News

Packaging graphics services company Imagelinx jumped into pre-tax profit of £4.5m from the loss of £717,000 last year. Half year turnover rose 16% to £4.4m.

As stated during its 2007 results in March, the group is expecting the outcome of major tenders, which may have a beneficial impact on its revenue going forwards.

"We are currently making some further operational efficiencies across the group which will place us in a better position to handle increased volumes more effectively in the final quarter of the year and into next year and we continue to monitor and control our costs across the group," said the group.

Shares in specialist medicine group ISPH jumped after it said a one-off $1.25m payment in connection with North American rights for its bleeding treatment Haemopressin would result in full year results being 'materially ahead of expectations."

Sefton Resources said it was ready to start developing activities in Kansas, while continuing to grow in California, after higher commodity prices and increased production helped the oil and gas company more than double its revenues.

Turnover in the six months to June 30 climbed to $2.6m from $1.3m, helping to lift income to $980,000 from $208,000.

A surge in half-year revenue to £4.6m from £1.8m has sent renewable energy technologies firm Renewable Energy Holdings into the black, with a profit of £1.1m versus a £1.2m loss a year ago.

It has also increased the €135m credit facility with Standard Chartered Bank to €183m to secure project financing sufficient for all its immediate pipeline of wind projects and expansion in Germany and Poland.

LPA is at a four-month best after being selected to supply intercar electrical connection equipment for Sydney's new fleet of double-deck passenger transport rail vehicles.

The engineer's deal with Australian rail vehicle builder Downer EDI Rail involving 78 eight-car train sets is worth £2.5m. Delivery will begin in the autumn and continue over five years.

Telecoms equipment firm Telspec improved Wednesday after it said Costa Rican customer, ICE, will pay it a net £½m, the balance of a $4m contract, by the end of the year.

The group doesn't have enough cash to develop new products or compete with larger rivals, so is now searching for merger and acquisition opportunities. Its interim pre-tax loss narrowed to £556,000, while cash at the end of August was £2.65m.

Solar panel maker PowerFilm's first half profits slumped as expansion delays and a downturn in sales to the GPS asset tracking market knocked revenues back to $3.8m from $5.3m Profits in the half year to June fell to $0.08m from $1.9m.

"The improvements to the commercial arm of the organization that are being made are expected to deliver increased revenue going forward," it said, though it added it cannot be sure how quickly sales leads and prototype products will convert into revenue.

A one-off £15.4m charge for outsourcing its pension, pushed property group Raven Mount further into the red in the six months to June. Losses were £14.5m after a small operating profit of £0.8m. NAV fell to

Raven Mount, which recently sold its Property Fund Management business to Raven Russia, is seeking external financing for the development of its Audley business, though a sale of the business is also possible.

Online payments business Neteller swung into half year profits of £1.2m from the loss of $24.7m in last year. Revenue rose 18% to $32.8m. The group said it is on track to announce maiden dividend with full year results.

Shopping trolley security firm Gatekeeper Systems said there will be "significant cost savings" from its proposed delisting from AIM. The group said it believes costs associated with being a company listed on AIM are disproportionate to the benefits of such a listing.

Financial software group Gresham Computing said it has disposed its testing and automation business subsidiary Redstone Software to Testplant Limited, which develops software testing solutions.