News

Shares in engineer Senior soared after it said strong interim results were driven by "excellent performances" across both the Aerospace and Flexonics divisions despite the weak dollar.

Pre-tax profit for the year to June jumped 87% to £16.3m. Revenue increased 21.6% to £237.8m due to strong aerospace and industrial markets, improved margins and acquisitions.

Aerospace now contributes two thirds of the group's profits, while 61% of revenues originate from North America. Exchange rate movements redcued the improvements over the prior year by £13.3m for revenue.

The interim dividend per share rose 13% to 0.7p.

Toymaker Character said to date sales and profitability remain substantially ahead of the same period last year.

"As a result and taking account of the on-going strong demand for our continuing lines as well as early indications on our new introductions, the directors remain confident that the Group will at least meet current market expectations for the financial year ending 31 August 2007," it said.

The group also announced that its subsidiary Character Option is launching a new range of Doctor Who figures in association with BBC Worldwide. The new range will be launched in the spring of 2008.

China Biodiesel suffered after it said revenue for 2007 is likely to be below previous guidance, which will lead to reduced net profit for the year ended 31 December 2007.

"In the second half of 2007 turnover will be affected by the consequence of the
earlier delays in building the extension to the plant in Longyan and the delay
in completing the new plant in Xiamen caused by poor weather in South China," said the group.

Directors expect revenue for the first six months to be in line with management expectations, though gross margins continue to be depressed compared with last year due to increased feedstock prices and stable selling prices for diesel.

Soft drinks group Nichols saw pre-tax profit increase 14.9% to £2.77m as turnover rose 6.1% to £27.8m.

"Although we expect market volatility to continue throughout the second half, we still believe our core brands will continue to perform well in a difficult UK market, and that we will also see growth internationally for the full year," it said.

Intellectual property group Galleon announced it has licensed the UK DVD rights of Skunk Fu! series one to Warner Music in return for a minimum guarantee and further royalties linked to sales volume.

The group said it would not disclose any financial details of this five-year agreement for competitive reasons.

Galleon added that it is actively discussing further licensing deals for other territories in which Skunk Fu! will be broadcast.

The business systems division of Corero after winning two new City Academics contracts, taking its total to 11 for the current year.

"We have had a really successful period in business systems, building on our existing success with sixth form colleges and expansion into the further education sector," said Bernard Snowe, managing director of business systems division.

"We continue to see considerable opportunities in both these market places," he added.