News

Financial services software provider Intelligent Environments saw pre-tax profits in the first half rise, but gross margins fell as it employed outside contractors to deliver contracts on time.

Pre-tax profit for the period came in at £212,000, up from £153,000 in the same period last year. Revenues rose 72% at £3.1m. Cost of sales increased by £700,000 due to the employment of short term contractors.

"We have seen growing demand from our existing customers too, and revenues arising from the implemented transactional model have begun to accelerate,'' said the group.

Shares in Zenergy Power rose after it was commissioned by a global metals producer to carry out design work to adapt its HTS induction heater specifically for processing their heavy non-ferrous metals.

"The board considers this commitment of funds from the client as a further significant commercial endorsement of the benefits brought about by the efficiencies of the Group's HTS induction heater technology," it said.

The group said the current addressable market for its induction heaters is estimated to be €2bn per annum.

Shares in Hallin Marine rose after the provider of subsea solutions to the oil and gas industry sold one of its saturation diving systems for $4.25m to a US based contractor.

"We are delighted to announce the profitable sale of the Sat 04, our only remaining nine-man sat system. As well as being an excellent deal for the company it achieves our aim of operating a standardised fleet of fully classed 12-man Saturation Diving Systems," said the group.

Chemical firm TyraTech said it has achieved significant milestones during the first half of the year. Pre-tax losses for the period widened to £9.9m from £2.9m before on turnover up to $333,000 from $104,000.

"We have also received a small milestone payment from one of our significant global commercial partners, Syngenta, for the development of products within the professional pest control market," it said.

Shares in mineral processing and mining company GVM Metals rose after it increased its stake in the Tshikunda Coal Project to 60%, for a total cost of A$3.5m.

Commodities investment company Commoditrade saw interim revenue rise to £15.1m from £8.8m, with pre-tax profit rising to £3.5m from £2.5m previously.

"The business has delivered strong growth in profits and cash generation over the period and has continued to perform very strongly into the second half of the year," it said.

Robotic Technology Systems improved after it narrowed half-year pre-tax losses to £809,000 from £989,000 despite weaker revenues as a result of low order intake at the start of the year.

Shares in Claims People swung into interim pre-tax profits of £10,778 from the £66,000 loss previously on revenue that rose 47%.

Telecoms solutions provider Netcall saw turnover for the year rise 31% to £4.11m as pre-tax profit surged 115% to £770,000.

Online marketing group Deal Group Media saw half-year losses grow to £1.39m from £680,000 last time, although it said it is confident of returning to profitability in 2008.

Interactive TV gaming group NetPlay TV saw pre-tax losses widen, but said its investments in systems, people, new TV studios, the customer experience and continued customer acquisition will form the foundation for solid profitable growth in 2008.

AIM-listed Petrolatina Energy narrowed its first-half pre-tax loss to $2.9m on turnover of $3.1m.