Company News in Brief

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The Independent Online
Brabant Resources, the oil and gas exploration company, incurred a pounds 205,000 pre-tax loss in the half-year to 30 June against a profit of pounds 33,000 for the comparable period last year. Turnover fell from pounds 1.3m to pounds 1.2m. Nigel Swiffen, chairman, said that disappointing production at its Claymore oil field had been the main reason for the 7 per cent drop in revenue. The company said it expected oil prices to maintain their present levels in the second half of this year. Brabant announced it had agreed to buy a package of producing assets from Monument Oil & Gas for pounds 2.55m.

Quicks Group, the vehicle repairer, tripled pre-tax profits to pounds 1.1m ( pounds 328,000) in the half-year to 30 June, despite a fall in turnover from pounds 107.1m to pounds 99.4m. Interim dividend is raised from 1p to 1.75p.

William Bedford, the antiques dealer, reduced pre-tax losses from pounds 76,000 to pounds 22,000 in the half-year to 30 June on sales of pounds 914,000 ( pounds 817,000). The company said the strength of the pound against currencies outside the EC had partly discouraged buyers from those countries.

Burlington Group, the investment holding company, made pounds 54,000 ( pounds 71,000) in the six months to 30 June, reflecting the change in investment policy implemented last year when the company withdrew from investment in overseas mining shares. Burlington is not paying an interim dividend, but it expects to be able to recommend an unchanged dividend of 0.5p per share for this year.

CSC Investment Trust's net asset value per share declined from 114.45p to 112.47p for the half-year ended 30 June. It is paying an interim dividend of 1.5p.

Fleming Mercantile Investment Trust's net asset value fell to 246p (266.1p) as it reported lower pre- tax profits of pounds 5.1m ( pounds 7.6m) for the six months to 31 August. It is paying a second-quarter dividend of 1.675p.

Oliver Resources, the oil and gas exploration group, incurred lower pre-tax losses of Ir pounds 100,000 (Ir pounds 272,000) in the half-year to 30 April. No dividend.