Company News in Brief

Eve Group, the building contractor and civil engineer, fell to pounds 3.9m ( pounds 4.15m) pre-tax profit, due to losses incurred at its Arclive cable- laying subsidiary. Turnover rose to pounds 61.6m ( pounds 53m). Earnings per share are 25.4p (27.4p). Final dividend is 8p, making 11p (10p).

McKay Securities, the property company, doubled pre-tax profits to pounds 3m ( pounds 1.5m), despite a small decline in turnover from pounds 10.8m to pounds 10m. It also revealed a 25 per cent increase in group property values, while net asset value per share grew 45 per cent to 231p. The sale of properties in Brighton, Bristol and Folkestone as well as the general fall in interest rates over the period helped to improve the result. Earnings per share are 10.7p (4.2p). Final dividend is 3.1p, making 5.2p (3.5p).

Oceonics Group, which provides equipment and services to the oil exploration and production industries, slumped from a pounds 1.5m profit to pounds 1.3m loss. It blamed the losses on intense competition for a reduced volume of business available and the political uncertainty and slowdown in Nigeria since the end of last year. Turnover dwindled from pounds 30.6m to pounds 24.1m. It said that the market remained very difficult and that operating losses in the business have continued. Loss per share is 1.6p (EPS 0.2p). There is no dividend for the year, and the group has also delayed the payment of the preference dividend.