Company News in Brief

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The Independent Online
Beckenham Group, the hand tools distributor that is also contractor to the heating and ventilation industry, has incurred a pounds 771,000 pre-tax loss in the six months to 30 April. Turnover declined from pounds 26.5m to pounds 15.3m.

The results were affected by a pounds 164,000 provision for the effect of Olympia and York, one of its larger customers, being put into administration.

There were also reorganisation and closure costs amounting to pounds 386,000. The costs of restructuring are expected to run into the second half, but it is likely to be completed by the end of October. No dividend.

At the same time the company announced a three-for-four rights issue at 6p per share to raise pounds 1.9m net of expenses.

Denmans Electrical, the electrical goods wholesaler, increased pre- tax profits from pounds 574,000 to pounds 823,000 in the six months to 31 March. The company said the increase was achieved mainly from the stringent controls of its costs and working capital.

However, it warned that any progress in the year as a whole will be dictated by the speed of economic recovery. Turnover improved to pounds 18.9m ( pounds 17.8m). Interim dividend is raised to 1.8p (1.65p).

Leslie Wise Group, the maker and supplier of fabrics, lifted pre-tax profits to pounds 1.5m ( pounds 1.35m) in the six months to 31 May, helped by a 22 per cent rise in operating profits to pounds 1.65m on turnover of pounds 22.8m ( pounds 18.2m). Interim dividend remained unchanged at 1.75p.

Tomorrows Leisure, the hotel and leisure centre operator, reported a fall in pre-tax profits from pounds 860,000 to pounds 731,000 for the year to 31 March, despite a substantial increase in turnover to pounds 7.5m ( pounds 4.4m). Interest received on bank deposits fell sharply to pounds 28,000 ( pounds 778,000). Total dividend, however, improved to 1.375p (1.25p).

Aberforth Split Level Trust, the investment trust with a split capital structure, declared a fourth interim dividend of 3p per income share, payable on 4 September, to bring total payout to 9p. Net asset value per unit is 207.3p and 196.7p per capital share.