News

Pixel Interactive Media shares slumped after the China-focused online advertising firm said pre-tax profits will fall short of expectations as increased competition pressures margins.

Shares in Creightons jumped after the toiletries supplier reported higher sales in the six months to September 30.

The company behind brands such as the Real Shaving Company saw revenues climb to £7m from £6.5m while pre-tax profits narrowed slightly to £175,000 from £179,000.

Human resources software provider OneClickHR has announced new contract wins with the pest control specialist Rentokil Initial and insurance firm Groupama Insurances.

Recruitment software supplier Dillistone has won a new contract with IMSA International Executive Search Network. The contract entails the installation of Dillistone's Filefinder executive recruitment software and also contains an implementation and maintenance element.

US-focused hydrocarbon producer and developer Nighthawk Energy said it has had a 100% success rate on the first nine discovery wells drilled at its 50% owned Jolly Ranch project, and it is now has six of those wells in production.

The company intends to install two cryogenic plants in the first quarter of 2009, one at Jolly Ranch production area and the other at Craig, in order to capture natural gas liquids. The cryogenic plants are expected to recover between 500 and 700 barrels of oil equivalent per day from the natural gas liquids alone.

Pensions consultant Mattioli Woods is seeing increased demand from people with sizeable pension pots who are worried about 'dysfunctional investment markets'.

The company's executive chairman, Bob Woods, said demand in the first half of the financial year for its core SIPP (Self-Invested Pension Plan) and SSAS (Small Self-Administered Scheme) products has continued to grow, with further growth expected in 2009.

"Revenue generated from time-based consultancy and administration services in the year to date is ahead of budget, with more clients taking advantage of our proactive and holistic advice," Woods said.

Remote meter reading IT services provider Qonnectis took a £2.9m hit on impairment of goodwill which sent it spinning further into the red. The impairment charge was a result of the company adopting the IFRS accounting standard.

Loss before tax in the year to 30 June widened to £3.75m from £0.66m a year earlier on revenue that shot up from £0.3m to £0.46m.

The company said that it has noticed customer decision making cycles have lengthened as the economy deteriorates.

Aerospace and specialist engineering firm Hampson Industries saw underlying profit before tax rise 127% in the six month period ended 30 September to £16.1m and by 149% on a statutory basis. Revenue jumped 45% to £110.5m.

"The increased scale of the group coupled with the spread of revenue sources has significantly reduced our exposure to any single contract downturn or to any cyclicality of the aerospace sector," said chairman Chris Geoghegan.

Nickel miner Albidon has secured extra funding of $9m at 17p a share, plus hedge close-out proceeds of $7m and has agreed to convert $5m of Jinchuan's subordinated debt at 34p a share. Jinchuan is Albidon's offtake partner and major shareholder.

It said net debt has been reduced from $100m to $55m and the extra $16m will be used to provide working capital for the Munali nickel project to bring it through from commissioning to steady state production.