City File: Three cheers

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The Independent Online
EXPECT news of three contracts from Molynx, the acquisitive maker of high-technology surveillance and control systems. When Eric Walters, chairman, announced a dive in interim profits last August from pounds 1.1m to pounds 45,000, the shares tumbled. But the poor figures had been foreshadowed by a profits warning and the dividend was maintained.

The new contracts are thought to comprise sales of closed-circuit TV equipment for the North Sea's Troll field, the M6 motorway in the north of England and ONGC, the Indian state-owned oil company.

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