Company News in Brief

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The Independent Online
Kitty Little Group, the consumer products maker, more than doubled pre-tax profits from pounds 26,000 to pounds 54,000 in the six months to 30 June on lower sales of pounds 2.4m ( pounds 2.7m), helped by cuts in overheads. Earnings per share improved to 0.53p (0.06p). Interim dividend is 0.5p (nil). Kitty Little has forecast a final dividend for the current year of not less than 1p. It intends to raise pounds 2m via an equity issue to finance the acquisition from Addis of Samco Sunglasses. Samco owes Addis pounds 850,000. Under the acquisition agreement Kitty Little has to settle the loan no later than 1 April next year. The company said that although the recession continued to depress the retail sector, there had been encouraging signs of recovery this year.

Oceana Consolidated climbed sharply from pounds 158,000 taxable loss to pounds 877,000 pre-tax profit in the six months to 30 September. Turnover rose from pounds 4.8m to pounds 6.3m, reflecting a strong contribution from its main subsidiary, Charles Stanley & Co, a stockbroking firm. Net interest received increased to pounds 182,000 ( pounds 115,000). Earnings per share recovered to 7.28p (loss 2.43p). Interim dividend is 0.5p (nil).

Audax Properties recovered from pounds 179,000 taxable loss to pounds 219,000 pre-tax profit in the six months to 30 September, helped by gains made on the sale of properties. Earnings per share are 3.8p (loss 4.96p). No dividend.

Greenwich Communications, the cable and satellite television equipment supplier and property company, increased pre-tax losses from pounds 57,500 to pounds 65,000 for the year to 31 August after turnover was slashed from pounds 422,000 to pounds 261,000. Loss per share is 0.85p (0.9p). No dividend.

Lincoln House, manufacturer and distributor of home furnishings, proposes to raise about pounds 2m net of expenses through a placing and open offer and the subscription of just over 9 million shares at 25p each. The proceeds will be used to eliminate borrowings, which have remained high in relation to net assets.