Company News In Brief

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The Independent Online
Adam & Harvey, the footwear and agricultural equipment distributor, lifted pre-tax profits to pounds 5.7m in the year to 31 March 1994, compared with pounds 4.9m in 1993. Earnings per share were 77.6p (54.2p). The board is paying a final foreign income dividend of 11p. Taken together with the interim dividend, this represents a total gross dividend of 18.5p, an increase of 23 per cent for gross funds and 42 per cent for British taxpayers.

Marling Industries returned to the black in the year to 31 March with a pre-tax profit of pounds 743,000 against a pounds 9.6m loss last time. There was a loss per share of 0.13p (7.66p). A final dividend of 0.57p makes 0.77p (0.65p).

Capita Group, the business support services company, announced pre-tax profits of pounds 2.7m in the six months to 30 June ( pounds 2m.) Earnings per share were 3.8p against 2.86p last time. The interim dividend is lifted to 1.10p against 0.85p.

Eliza Tinsley Group has sold its non-core computer arm, ET Hi- Tec, to Kalamazoo for pounds 250,000. The company has assets of pounds 90,000 and turnover of pounds 700,000.

IMI has sold its computing software subsidiary, Redwood International, to CP Software Group of California for pounds 5m, to be satisfied by the issue of a secured promissory note with a maximum maturity of five years. In addition, ICI will receive convertible preferred stock and 19.9 per cent of the common stock of a new US corporation formed by CP Software Group to hold its interest in Redwood. IMI is making available up to pounds 6m of interest-bearing loans to support Redwood's restructuring.