Company News in Brief

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The Independent Online
Hadleigh Industries, the storage tank maker, truck and trailer body repairer and parts supplier, announced sharply reduced pre-tax losses from pounds 1.4m to pounds 190,000 in the year to 3 April. Pre-tax profit of pounds 170,000 was achieved in the second half. Interest charges were slashed to pounds 499,000 (pounds 702,000). Annual group sales, however, declined to pounds 27.3m (pounds 29.5m). Loss per share is cut to 1p (11.2p). Total dividend is 0.5p.

Torex Hire, the tool, small plant and catering equipment leasing firm, reduced pre-tax losses from pounds 290,000 to pounds 139,000 in the six months to 30 April. Loss per share was cut from 2.06p to 0.99p. No dividend.

Year to 31 March

Hollas Group, the leisurewear and hosiery manufacturer, almost tripled pre-tax profits from pounds 223,000 to pounds 647,000 despite a 26 per cent fall in turnover to pounds 28.4m (pounds 37m). Earnings per share grew to 0.6p (0.2p). Total dividend is held at 1.2p.

Morris Ashby, which specialises in the production of non-ferrous diecastings, reported an increase in pre-tax profits from pounds 1.2m to pounds 1.5m. Turnover rose to pounds 19m (pounds 15.3m). Earnings per share improved from 10.7p to 13.5p. Final dividend is 3.7p, making 5.4p (4.7p).

Tops Estates, the shops and office property group, has lifted the total dividend payout to 2.1p (2p). The rise in the dividend was agreed although pre-tax profits had slipped 35 per cent to pounds 1.7m (pounds 2.6m) on a slight fall in rental income to pounds 10.6m (pounds 10.7m). However, net profit improved with a pounds 348,000 tax credit. Earnings per share eased to 4.42p (4.79p).

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