Companies in Brief

Click to follow
The Independent Online
Wilton Group, the USM-quoted company that is selling its property portfolio to concentrate on Glenchewton, its 70 per cent- owned subsidiary, has incurred pounds 753,000 pre-tax loss (profit pounds 68,000) in the half year to 30 June. Operating profits of pounds 60,000 ( pounds 554,000 last time) were still wiped out by interest charges of pounds 810,000. It expects to sell most of its remaining property investments before the year-end to cut borrowings further. Last October Wilton paid pounds 3.8m for Glenchewton, whose interests include toys, electrical components and hardware and household goods.

Glenchewton's losses eased by 30 per cent to pounds 489,000. Simon Bentley, chairman, said its sales were greater in the second half, when, he was confident, it would make a profit.

Rowe Evans Investments is not paying an interim dividend despite reporting a twofold increase in pre-tax profits to pounds 926,000 ( pounds 443,000) in the half year to 30 June.

Dale Electric International, which makes AC and DC power systems, is to streamline its operations with the creation of one principal UK subsidiary from its three main UK subsidiaries and the planned sale of non-core UK and overseas companies.

Scottish American Investment Company's net asset value per share rose to 135.6p (131.6p). It is paying a second quarter dividend of 1.08p (1.02p), making 3.15p (2.02p) in half year to 30 June.

Cullens Holdings, the groceries, wines and spirits retailer, reported a pounds 16,000 taxable loss (profit pounds 370,000) in the six months to 31 August, depite a rise in sales from pounds 1.2m to pounds 1.7m.

Govett Strategic Investment Trust declared a final dividend of 4.1p making an unchanged total for the year to 30 September of 6.75p.

EIT Group announced that of the 13,005,000 new shares issued, 36.4 per cent or 4.74 million shares have been taken up by shareholders. The balance is to be placed with shareholders.

Comments