Company News in Brief

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The Independent Online
International Family Entertainment, the US broadcasting group controlled by the evangelist Pat Roberston, has secured control of TVS Entertainment after preference shareholders accepted the improved terms on offer for their shares.

Selective Assets Trust said net asset value per share rose to 155.95p (126.49p) at 31 December. The dividend has been raised to 1.2p (0.825p).

Malvern UK Index Trust, which tracks the domestic stock market, saw its net asset value rise by 15.1 per cent to 123.3p in 1992, against the 14.8 per cent rise recorded by the FT All-share index. A final dividend of 2.07p is being paid making 3.77p for the year. The trust said the overall return to investors rose to 25 per cent.

Parkland Textiles is selling its garment-marketing and overseas manufacturing operation to Albion for pounds 630,000.

Wescol Group made a loss of pounds 2.49m ( pounds 1.55m loss) in the year to 31 July on turnover of pounds 16.26m ( pounds 24.74m). No dividend.

Norbain Electronics improved its pre-tax profit to pounds 224,000 from pounds 33,000 in the six months to 31 October on turnover of pounds 7.62m ( pounds 5.75m). Earnings per share 2.16p (0.33p). No dividend.

Martin Shelton made a pre-tax loss of pounds 144,000 ( pounds 122,000) in the six months to 30 September. Turnover was slightly higher at pounds 1.68m ( pounds 1.63m). Loss per share 1.88p (loss 1.58p). Interim dividend 0.75p (same).

Shield Group returned to the black with a pre-tax profit of pounds 54,000 (loss pounds 1.34m) in the six months to 30 September. Loss per share 2.7p (17.2p). No interim dividend.

Europe Energy Group made a pre-tax loss of pounds 145,000 ( pounds 148,000) in the six months to 30 September. Loss per share 1.16p (1.18p). No interim dividend.

Hatfield Construction, part of the failed Lilley Group, has been bought by its founder and former owner, Ken Wilkins, from the receiver. Mr Wilkins sold his stake to Lilley Group less than three years ago.

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