Company News in Brief

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The Independent Online
Property Trust, the property trader and developer, reported a sharp turnaround from pounds 7.95m taxable loss to pounds 737,000 pre-tax profit for the year to 31 March, in spite of a significant drop in turnover to pounds 2.5m (pounds 9.5m). A restructuring involving a capital reduction and a pounds 2.8m rights issue helped to relieve the debt burden. Earnings per share were 5.6p (LPS 88.1p). No dividend.

Half year to 30 June

Burlington Group, the investment holding company, increased pre-tax profits to pounds 64,000 (pounds 54,000). Earnings per share are 0.39 (0.28p). No dividend.

S Daniels, the food ingredients importer, achieved pre-tax profit of pounds 25,000 (loss pounds 105,000). Turnover improved to pounds 16.6m (pounds 15.7m). Earnings per share are 0.3p (LPS 1.3p). The company is not paying an interim dividend but hopes to pay a final dividend for 1993.

Mayflower Corporation, the vehicle cab and car body maker, lifted pre-tax profits by 50 per cent to pounds 2.4m (pounds 1.6m). Despite the loss of Leyland DAF, a large client that went into receivership in February, most companies, mainly in the US, showed strong sales volumes. However, declines in sales of new cars were seen in France, Spain and Italy. Turnover rose to pounds 48.2m (pounds 30.6m). Earnings per share improved to 1.28p (1.17p). Dividend is 0.45p (0.4p).

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