Business and City in Brief

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Allied Textile Companies, the textile products group, lifted pre-tax profits to pounds 6.8m (pounds 5.3m) in the six months to 31 March. Turnover was ahead at pounds 69.1m (pounds 64.5m). Earnings per share rose to 15.37p (12.57p). Interim dividend is increased to 4.8p (4.6p).

Dalepak Foods, the frozen meats, vegetables and ready meals producer and supplier, announced a sharp drop in pre-tax profits from pounds 2.2m to pounds 514,000 for the year to 30 April. Earnings per share were slashed to 3.71p (13p) as was the total payout for year from 6p to 1.5p.

M&G Dual Trust maintained the dividend payout at 30.55p for the half-year to 30 June. Revenue before tax was static at pounds 2.2m, but interest from deposits fell in line with lower interest rates.

Murray Smaller Companies Trust's net asset value grew 39 per cent from 344.8p to 478.9p for the year to May. During the year it reduced investment in Japan and the Far East generally and increased exposure to Latin America, where it believes growth prospects remain attractive.

Rights & Issues Investment Trust raised the dividend payout to 2.5p (2.4p) for the half-year to June. Net asset value per share at the end of the half-year stood at 139.2p and 521.9p for income and capital shares respectively.

Shandwick, the public relations group, rose pounds 1.7m to pounds 2.5m pre-tax profit in the six months to 30 April, helped by improved margins and lower interest costs to pounds 2.7m (pounds 3.4m). Earnings per share were held at 1.4p. Interim dividend is 0.43p.