News

Ultima Networks said trading for the six months ended 30 June has proceeded satisfactorily with turnover about 20% ahead in comparison to the same period last year.

The group said demand for its range of electric bicycles has exceeded expectations and added that a new range will be launched shortly.

However, sales of software to the legal profession by the group's Cognito unit have been a little slower throughout the period as substantial investment has been made in product development, which does have a temporary impact on margins.

Luxury travel group Western & Oriental anticipates a 'significant shortfall' in reported earnings for the full-year and warned it will remain loss making.

Additionally, the group has seen increased pressure on the tour operating businesses to price-match against its competitors. This pressure on prices means margins are being maintained at similar levels to the prior year, rather than improving as had been anticipated, it added.Western & Oriental expects the difficult trading conditions to continue for the foreseeable future.

Beer flow monitoring company Brulines said the year has started well with trading performance in line with the board's expectations. "The board is confident that its product range and recent acquisitions will take the group into new markets and support further growth in the current financial year," it added.

Shares in Empyrean Energy dropped after the oil and gas explorer said that flow rates at its Kennedy 1H well in Sugarloaf Block B, Texas, have not improved.

IT services group FDM says trading continues in line with forecasts and the board is confident of achieving market expectations for the year. The group, which supplies programmers, said it has continued to migrate service delivery into higher margin areas and away from a freelance model. As a consequence continued improvement in gross profit margins year-on-year has been achieved.

Web domain name specialist Group NBT reports excellent growth in its core products, NetNames Platinum Service and Managed Hosting, and good progress in all areas of the business. As a result the group expects to report full year earnings ahead of current market forecasts.

A write-off on the now closed mobile phone part of download business Cliq sent digital radio group UBC Media deeper into the red last year. Losses before tax for the year to March were £2.89m up from losses of £720,000. Revenues rose 17% to £15.4m. Underlying operating profits rose by 39% to £0.71m. Since the year end UBC has agreed to sell its commercial networking business to Global Traffic Network fro an initial £11m.