Company News in Brief

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The Independent Online
Beauford, the manufacturing engineer, slumped deeper into pre-tax losses of pounds 26.4m ( pounds 3.6m) for the year ended 31 December. The results were affected by reorganisation costs and a pounds 19.5m provision. Interest charges, however, eased as borrowings were cut by a third to pounds 11.7m ( pounds 17.5m). Turnover fell 23 per cent to pounds 38.8m ( pounds 50.7m). Loss per share worsened from 33p to 254p. No dividend (0.1p).

Carrs Milling Industries, the food manufacturer and agricultural merchant, sharply increased pre-tax profits from pounds 125,000 to pounds 610,000 in the six months to 28 February. Turnover edged up to pounds 36.1m ( pounds 36m). The company said the effective devaluation of the pound and the new CAP agrimonetary system introduced in January had a detrimental impact on raw material prices and would continue in the second half. Earnings per share are 6.1p (1.2p). Interim dividend is held at 1p.

Property Partnerships, the property owner and developer, lifted pre-tax profits from pounds 1.8m to pounds 2.1m in the year to 31 March. Earnings per share improved to 14.6p (13p). Final dividend is 4.7p, making 7.25p (7p).

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