Company news in brief

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The Independent Online
Enterprise Computer Holdings, the largest supplier of second- hand IBM mainframe computers in Europe, has experienced a slump from pounds 7.5m pre-tax profit to pounds 8.3m taxable loss in the 15 months to 31 March. The result was hit by declining sales from pounds 183.1m to pounds 157.9m, due in part to the sale of its communications and maintenance divisions last year, and a pounds 5.3m exceptional item relating to restructuring of the business. No dividend.

Abbey Panels Investments, the engineering company that makes components for the motor, aerospace and defence industries, deepened pre-tax losses from pounds 110,000 to pounds 1.2m in the six months to 31 March. No dividend.

Riva Group, which makes and sells electronic point of sale systems, climbed out of pounds 1.1m loss to report pre-tax profits of pounds 314,000 for the six months to 30 June. No dividend.

Formister, maker of outerwear, returned pre-tax profits of pounds 2.1m ( pounds 2.2m) for the year to 30 April. Final dividend is 8.75p, making 12.53p (11.75p).

Unit Group, maker of timber pallets and chipboard reels, turned around from taxable losses of pounds 237,000 to pre-tax profits of pounds 139,000 for the year to 31 March. No dividend.

Worthington Group, which supplies clothing accessories, reported a fall in pre-tax profits to pounds 462,000 ( pounds 514,000) in the year to 31 March. Final dividend is 1.1p, making 1.4p (0.75p).

OMI International incurred pounds 2.9m pre-tax loss (profit pounds 1.4m) in the year to 31 March, hurt by a pounds 1.5m exceptional charge. Final dividend is 1p, making 1.75p (5.21p).

African Lakes Corporation, the general trader, incurred pounds 45,000 pre-tax loss (profit pounds 81,000) in the six months to 31 March. No dividend.

Porvair has bought Accumatic Filtration, which is involved in the manufacture of porous sintered metal and plastic products, for pounds 2.4m in cash from Foseco.

Wheway, the environmental engineering group, is to sell its United Forgemasters business to the management of UF for pounds 1.57m.

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