News

IT services company Xploite said its subsidiary Anix has won a £5m contract, providing a high street retailer with maintenance services for its IBM hardware and software over the next five years.

"It is very reassuring to see that Anix is continuing to secure long term service contracts, even in this tough economic climate," said chairman Ian Smith.

Technology components developer e2v technologies has conditionally agreed to buy US-based semiconductor designer QP Semiconductor for an initial cash consideration of $65m.

Deferred consideration of up to $15m may be payable to QP shareholders, subject to future operating profit performance targets being achieved by QP.

"This acquisition will significantly enhance our presence in the high reliability specialist semiconductor market and the board believes that the acquisition of QP will deliver earnings enhancement in the financial year ending March 2009 and material enhancement in the year ending March 2010," said chief executive Keith Attwood

Results from an additional two holes of a diamond drill programme at the Tulu Kapi Gold Project in Ethiopia confirmed "significant depth and strike extensions" of high grade gold mineralisation, said miner Minerva.

Turftrax announced the departure of finance director Nicholette Green as the troubled horse racing data firm said "efforts continue to create or preserve opportunities to generate value for its shareholders." Pre-tax losses for the year jumped to £4.79m from £3.1m.

Shares in Dillistone surged more than 30% after the recruitment software company posted a 44% rise in pre-tax profits and predicted full year trading would be ahead of market expectations. Pre-tax profits in the six months to June 30 rose to £949,000 from £659,000 over the same period a year ago as revenue climbed £2.5m from £1.9m.

Loss making currency and global equity research firm Independent International Investment Research is proposing to de-list from AIM. The board believes the time and money consumed by its AIM listing has restricted its opportunities to grow by acquisition.

If the proposal to de-list is agreed to by shareholders shares would subsequently be traded by a matched bargain service.

The announcement coincided with the release of strong results which saw turnover rise 77% to £1.9m in the year to June from £1.1m a year earlier, while losses narrowed to £0.2m from £0.3m.

China-focused foam maker FoaMasters saw profits fall in the six months to June 30 as demand for its products eased, but said it had seen signs conditions were improving in the second quarter. Pre-tax profits fell to £1.8m from £8.9m, while turnover edged up slightly to £45.5m from £44.3m.

TV production company DCD Media has agreed a £1.8m deal to license performing arts footage to Classical TV's website.

"This is an extremely favourable arrangement for DCD, which is licensing a minority of its library, retaining ownership of all its rights, gaining a large cash fee for its licence and also getting to participate on a risk-free basis in a significant new media operation," chief executive Chris Hunt said.

Pantheon Resources has battened down the hatches in preparation for the arrival of Hurricane Gustav.

The Gulf of Mexico-focused oil and gas explorer has suspended operations at the Jumonville number one well on the Bullseye project. All equipment has been secured and staff moved off site.

The company estimates that Hurricane Gustav will cause a delay of eight to ten days in the completion work and testing of the Jumonville number one well.