News

Shares in Prime People fell heavily after the property-focused recruitment company reported a softening in demand for new staff.

"Total Net Fee Income ('NFI') for the group in the first three months of the current financial year is comparable with the equivalent period in 2007," chairman Robert Macdonald said.

"In the UK, we do see a noticeable softening of demand for professionals operating in the transactional and investment parts of our sector. However, there remains a solid core of recruitment activity underpinned by the long-term nature of major infrastructure projects and commercial property developments."

South Africa-based Coal of Africa said progress on its coal projects is continuing according to plan, adding that the rehabilitation of the Mooiplaats box-cut is now completed.

"The results of the exploration programmes on the Vele and Makhado projects confirm our expectations of both coal quality and coal reserves with Mining Right applications for both projects to be submitted in the September quarter," said managing director Simon Farrell.

"This progress, together with the enhancement of CoAL's shareholder base, positions the company uniquely whereby it has significant cash reserves for large scale development and an off-take agreement that will allow the company to take advantage of the current resource prices within a reduced risk environment," he added.

Energy and environmental consultant AEA Technology said it has had a good start to its financial year and has traded in line with expectations.

Orders from the UK public sector, including the devolved administrations, are also in line with expectations, the group added. Net debt was £23.5m as at 30 June.

Oilex has increased its resource estimate for the Pendalian Oil Field in Indonesia by 14% to 13.7m barrels oil.

First quarter revenue fell to £25.4m at stockbroker Charles Stanley from £25.9m a year earlier as total client funds under management dropped by £100m to £10.9bn.