Company News in Brief

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The Independent Online
Cray Electronics, the information technology company says that its South African partner will help to link up the country's cellular telephone network in a contract worth about pounds 10m.

Chelsfield, the property group, has sold an office park investment at Great West Plaza in Brentford, Middlesex, for pounds 25m.

Brandon Hire, the tools, catering and furniture hirer, made pounds 12,000 pre-tax profits for the year to 30 April on turnover up from pounds 3.9m to pounds 4.5m. Earnings per share were 0.63p (0.44p). It declared a total dividend of 1.5p (nil).

Corporate Services Group, the employment services provider, reported a sharp rise in pre-tax profits from pounds 32,000 to pounds 172,000 for the half-year to 30 June as turnover almost doubled from pounds 16.1m to pounds 30.9m. Earnings per share jumped to 44p (11p).

Hiscox Select Insurance Fund, the investment trust which began trading in November, is to make a maiden 1.5p payout for the half- year to 30 June. Taxable revenue for the period amounted to pounds 808,000. Net asset value per share stood at 92.3p.

Seacon Holdings, the shipping, cargo handing and hotel company, revealed a marked fall in pre-tax profits from pounds 548,000 to pounds 293,000 in the six months to 31 March. The near 50 per cent fall in profits was despite a rise in turnover from pounds 9.1m to pounds 9.5m. Earnings per share declined to 1.18p (2.25p), but the dividend was ahead of the previous year's 0.92p at 0.97p.