Company News in Brief

Armitage Bros, which makes and distributes pet products, has lifted pre-tax profits from pounds 715,000 to pounds 810,000 for the six months to 30 November. The company attributed the growth in sales and profits to new business rather than price increases. Turnover rose to pounds 13.4m ( pounds 12.9m). Interest charges eased to pounds 51,000 ( pounds 69,000). Earnings per share improved to 13.5p (11.9p). Interim dividend is 2.7p (2.6p).

Baring Tribune Investment Trust is to pay a 4.9p final dividend, making a higher total payout of 6.6p (6.45p) for the year ended 31 December. Net asset value per share grew to 417.9p (318.7p).

Burlington Group, the investment holding company, returned higher pre-tax profits of pounds 210,000 ( pounds 171,000) for the year ended 31 December. Earnings per share grew to 1.3p (1.01p). Total dividend 0.6p (0.5p).

Howard Holdings, the property developer and plant leasing company, reported a turnround from pounds 198,000 taxable loss to pounds 37,000 in the six months to 31 October, helped by a doubling of turnover from pounds 1.5m to pounds 3m. Earnings per share recovered from a 0.75p loss to 0.15p. There is no dividend.

Inoco, the property investment company, has announced a return to profits following four years of losses. It made pounds 2.6m pre-tax profit for the year ended 31 December, marking a sharp turnround from pounds 4.5m taxable loss the year before, when it suffered exceptional losses of pounds 4.1m on trading stocks and fixed assets. The firm cited the significant reduction in the interest charge from pounds 7.2m to pounds 4.4m and the continuing lowering of bank base rates during the year as the main reasons for the return to profitability. Net income from property was virtually maintained at pounds 8.2m. Earnings per share are 1.21p (loss 2.14p). No dividend.

TR Pacific Investment Trust, the trust specialising in the Far East excluding Japan and Australasia, has maintained the dividend payout at 0.35p for the year ended 31 December. Net asset value per share was more than doubled at 242.4p (114.6p).