Faber Prest, provider of specialist services in the industrial, distribution and car retailing markets, reported a fall in pre-tax profits from pounds 1.8m to pounds 1.65m in the six months to 31 March on a fall in turnover to pounds 32.5m ( pounds 34.7m). The company said that a 10 per cent fall in UK output of steel combined with increased steel-making efficiency and lower demand for its services affected the results. Overseas operations, however, benefited from the devaluation of the pound, while a general round of reorganisation helped to cut interest charges by more than half. Earnings per share eased to 10.2p (11.7p). Interim dividend is 5p, up from 4.3p.
Windsor, the insurance broker specialising in sports, leisure and contingency insurance, deepened pre-tax losses from pounds 102,000 to pounds 1.9m in the six months to 31 March. Turnover rose to pounds 3.8m ( pounds 3.6m). Most of the loss was caused by a pounds 1.7m write-down on an investment property in Hemel Hempstead bought in 1989. The company felt that selling the property would halt a further drain on resources. Loss per share worsened to 5.64p (0.21p). No dividend. Stanley Cohen, chairman of Windsor for more than two years, retired on 31 May.Reuse content