Company News in Brief

Click to follow
Resort Hotels has added the first associate hotel to the Resort Network, which now totals 55 properties. Randell's Hotel and Conference Centre, Skipton, Yorkshire, will be marketed and promoted as part of Resort's National Network of hotels.

The associate status, which is the third leg of the Resort operation, is owned and managed by others. Resort highlighted the fact that it will be able to generate further income without capital investment since room sales are commissionable.

Tunstall Group is to buy a 33.3 per cent stake in Empresa de Servicios Espacializados de Seguridad (ESES), a Spanish company specialising in the installation, maintenance and monitoring of security and fire systems. Tunstall will pay 81m pesetas ( pounds 476,000) in cash for a one-third shareholding satisfied by the issue of new shares by ESES. It also has an option to buy a majority shareholding in ESES in 1996, based on an agreed multiple of pre-tax profits.

Mid Wynd International Investment Trust's net asset value per share grew from 280.9p at the end of the 12 months to 30 June to stand at 326.8p at the end of the six months to 31 December. It held the interim dividend at 2.4p.

Lincoln House, distributor of home furnishing products, bounced from pounds 286,000 taxable loss to report pre-tax profits of pounds 193,000 for the year ending 31 December. The company said the strong trading performance resulted from the robust management formula imposed on its operation over the past two years. There was no dividend.

Olim Convertible Trust improved the dividend payout to 8.8p (8.5p) for the year ending 31 December. Net asset value per share grew to 72.09p (60.57p).

Scapa Group, the industrial materials manufacturer, has said it is buying Oberdorfer Group, a supplier to the paper industry, for pounds 11m. It believes the acquisition 'will considerably strengthen' its position within its forming fabric division.

Comments