Company News in Brief

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The Independent Online
Delyn Group, the plastic moulds and consumer packaging manufacturer, slumped from pounds 500,000 pre- tax profit to pounds 142,000 taxable loss in the six months to 31 July. The result suffered from exceptional charges amounting to pounds 591,000.

In May the group sold its overseas manufacturing interest, Plastella, to Mercurex, a former partner in which it held a 50 per cent stake. In August an administrative receiver was appointed to the Mercurex group of companies.

Delyn said it was assured by the administrators that Plastella would continue to trade profitably and should pay creditors in time. Loss per share was 3.55p (EPS 3.94p). The interim dividend stays at 0.5p. The shares dropped 4p to 91p.

Densitron International, the electronic components maker and distributor, boosted the half-year dividend 25 per cent to 0.5p (0.4p) despite lower pre-tax profits of pounds 251,000 ( pounds 370,000) for the half-year to 30 June. It blamed the fall in profits on the recession in Japan, the high prices for products sourced from there and low margins in the US. However, turnover showed a 20 per cent increase to pounds 28m ( pounds 28.4m). Earnings per share improved to 1.12p (0.8p). The shares closed at 32p, down 5p.

ML Holdings' subsidiary Slingsby Aviation has sold its airships business to Westinghouse Airships of Baltimore for pounds 1.7m. Slingsby designs and makes some of the Skyship series of airships.

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