Company News in Brief

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The Independent Online
Half year to 30 June

Cakebread Robey, the building materials distributor and sheet metal maker said that as a result of the recession sales had shown a 7.9 per cent fall, while debts of pounds 178,000 were already above the levels for the whole of the previous year. It deepened pre-tax losses from pounds 191,000 to pounds 667,000. It said it was looking at streamlining overhead costs.

TF & JH Braime Holdings, makers of drawn presswork and elevator components supplier, slipped to pounds 214,000 ( pounds 283,000) pre-tax profit. The company said demand for its products at home remained at last year's depressed levels, while demand from overseas continued to fall. It said lower sales were also hit by the decline in the value of the US dollar, which squeezed margins on UK-made goods. Dividend held at 2.25p.

Cussins Property Group made pounds 437,000 pre-tax profit compared with pounds 271,000 taxable loss previously. The turnaround was achieved through a significant cut in interest payments from pounds 1.05m to pounds 355,000. No dividend.

Michael Page Group, the recruitment and advertising services company, fell to pounds 1.3m ( pounds 2.1m) pre-tax profit, hit by worsening conditions in the employment markets across Europe. The interim dividend is held at 0.6p.

Grafton Group, the builders merchants based in Ireland, which makes concrete and plastics, lifted pre-tax profits to Ir pounds 1.85 (Ir pounds 1.6m). Interim dividend is raised to 2.75p (2.5p).

Others

Isotron, which provides sterilisation and irradiation services, eased slightly to pounds 2.7m ( pounds 2.8m) pre-tax profit for the year to 30 June. Turnover improved a little to pounds 6.5m ( pounds 6.4m). Final dividend is 2.57p, making a total of 3.94p, up 10 per cent.

American Trust, the investment trust managed by Edinburgh fund managers, experienced a 4.7 per cent decline in net asset value to 200.5p. Dividend is held at 1.5p for the six months to 31 July.

EFM Income Trust is maintaining the dividend payout at 1.2p for the three months to 31 July. Net asset value is down at 34.8p (47.5p).

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