Company News in Brief
Friday 07 May 1993
MMT Computing reported a pre-tax profit of pounds 865,000 for the six months to 28 February. This compared with profit of pounds 712,000 last time. Earnings per share were 4.8p against 3.9p. The interim dividend is lifted to 1.25p from 1.1p a year earlier.
EIS Group, the engineering and aerospace group, has acquired the business and assets of Wilhelm Klein (WKE), of Esslingen, Germany. The total consideration, including the repayment of loans, is pounds 1.72m (DM4.3m) cash. EIS has also bought product and repair service division of Airwork, of Ferndown, Dorset, for pounds 290,000. WKE is a supplier of blowers directed to the water treatment, brewing and solvent recovery industries.
James Smith Estates lifted pre-tax profits by pounds 26,000, from pounds 1.19m to pounds 1.45m in the year to 24 March. Earnings per share rose 1.2p to 6.3p. A final dividend of 2.8p makes 4.2p against 3.75p last time.
Copymore, the office automation distributor, announced a slump in pre-tax profits to pounds 536,000 in 1992, down from pounds 1.02m in 1991. Earnings per share fell to 3.3p from 5.9p. The final dividend has been passed, making 1p for the year against 2.7p last time. Stephen Matthews, the chairman, said the result was a a disappointing outcome which was caused primarily by recessionary conditions in the core photocopier and laser printer markets. These were exacerbated by difficulties and delays suffered by some customers in securing lease finance, he added.
Hammerson has completed the letting of Senator House, one of its City developments, by signing up Schroders, the merchant bank, for the remaining two floors.
T&N, the automotive components and engineering group, is to spend dollars 25m on doubling the capacity of its piston plant in Indiana. The new facilities, which should be in full operation by 1995, are needed to meet contracts already placed with the company.
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