Company News in Brief

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The Independent Online
Invesco MIM has secured a standstill agreement with Peregrine Investments, the Hong Kong-based company that since October has built up a 24.7 per cent stake in the fund manager. Philip Tose, Peregrine's chairman, has been appointed to the Invesco board. Peregrine has agreed not to increase its stake in Invesco above 24.9 per cent for up to two years.

Arthur Lee lifted pre-tax profits to pounds 2.9m (pounds 0.9m) for the year to 30 September. The result included an exceptional gain of pounds 1.5m. Earnings per share rose 33 per cent to 7.32p and the total dividend is maintained at 5.9p.

Central Motor Auctions saw pre-tax profits slump 58 per cent to pounds 853,000 ( pounds 2.05m). Earnings per share more than halved to 5.46p (11.66p) but the dividend was maintained at 4p.

Albert Fisher, the fruit and vegetable importer, has had its plan to buy back 10 per cent of its shares blocked by some convertible preference shareholders.

Aim Group reported pre-tax profits of pounds 1.48m ( pounds 1.05m) for the six months to 31 October. Earnings per share were 6.8p (4.8p) and the interim dividend is held at 1.5p Clayhithe made a pre-tax loss of pounds 1.09m in the six months to 30 September. This compared with a restated loss of pounds 645,000 last time. The fully diluted loss per share was 4.7p (1.0p). The interim dividend is held at 0.75p.

Daejan Holdings announced a pre-tax profit of pounds 8.2m ( pounds 8.8m) for the half-year to 30 September. Earnings per share were 33.65p (34.96p). Interim held at 12p.

Davenport Vernon reported pre-tax profit of pounds 1.6m ( pounds 1.4m) for the year to 30 September. Earnings per share were 8.1p (7.3p) and a final dividend of 2.5p makes 4.0p (4.0p).

Hawtin made a pre-tax profit of pounds 1.04m ( pounds 1.4m) in the year to 30 September. Earnings per share were 1.04p (1.68p). The dividend is 0.89p (0.86p).

Dobson Park Industries is to create a joint venture of its Mining Equipment Division with Meco International to form Longwall International.