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The Independent Online
Cassell, the book publisher, hopes to raise pounds 7m in a placing of shares on flotation later this month and will use the proceeds to pay off debt. The company will have a market capitalisation of about pounds 15m.

Bearing Power International, the bearings and power transmission components distributor with subsidiaries in the UK and Canada, yesterday reported a boost to pre-tax profits from pounds 257,000 to pounds 404,000 in the six months to 31 March, helped by a sharp increase in turnover from pounds 11.3m to pounds 17.9m. Earnings per share slipped from 0.91p to 0.84p. No dividend was declared.

Holmes & Marchant Group, the marketing consultants, announced an increase in pre-tax profits from pounds 461,000 to pounds 576,000 in the six months to 31 March, despite a fall in turnover from pounds 16.7m to pounds 13.3m. Earnings per share improved to 1.76p (1.45p). No dividend was declared.

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