Company News in Brief

Six months to 30 September

Raglan Property Trust is to raise pounds 19.3m, net of expenses, through a two-for-one rights issue of about 62.5 million shares at 32p each. At the same time it announced it had recovered from a pounds 1.5m taxable loss to make pounds 89,000 pre-tax profit following a healthy rise in turnover from pounds 187,0000 to pounds 4.9m. Earnings per share are 0.3p (LPS pounds 20.91p).

Alphameric, which makes customised electronic systems, recorded a turnaround from pounds 252,000 taxable loss to pounds 178,000 pre-tax profit. It returned to profit with the aid of a 75 per cent jump in turnover to pounds 5.3m to produce trading profits of pounds 203,000. Earnings per share are 0.4p (LPS 1p). No dividend.

Others

J Smart & Co, the building contractor and property developer, announced lower pre-tax profits of pounds 2m ( pounds 3.3m) for the year to 31 July. Turnover was pounds 12.8m ( pounds 14m). Earnings per share are 13.26p (22.08p). Total dividend is held at 8.5p.

MMT Computing, the computer systems consultancy, increased pre-tax profits from pounds 1.5m to pounds 1.7m for the year to 31 August, following a 13 per cent rise in turnover to pounds 7.05m ( pounds 6.2m). Earnings per share improved to 9p (7.9p). Total dividend is 4p (3.5p).

Pegasus Group, the packaged accounting software developer and consultancy, has agreed to buy Sequel Systems for pounds 789,000 in cash and shares. Sequel Systems was formed in 1989 by Johnnie Johnson, one of the original founders of Pegasus Software, and Chris Leak to develop Sequel, an accounting product.