Company News in Brief

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The Independent Online
Betacom, the telecommunication products group, reported a drop in pre-tax profits from pounds 350,000 to pounds 103,000 in the six months to 31 December, in the absence of a pounds 213,000 gain from the sale of joint venture investments in Germany and the Netherlands. Turnover edged up to pounds 6.9m ( pounds 6.7m). Earnings per share are 0.15p (0.46p). No dividend.

Fleming Claverhouse IT is to pay a final dividend of 1.75p, making 5.5p (5.35p) total for the year ended 31 December. Net asset value per share grew to 238.3p (189p), reflecting a 70 per cent boost in shareholders' funds.

Heiton Holdings, the steel stockholder and builder's merchant, held the interim dividend at 0.65p, despite lower pre-tax profits of pounds 753,000 ( pounds 945,000) for the six months to 31 October. EPS slipped to 1.74p (1.9p).

Tullow Oil, the oil and gas producer, fell to Ir pounds 1.1m (Ir pounds 1.6m) pre- tax profit for the year ended 31 December. EPS dropped to 0.73p (1.23p). No dividend.

Simon Engineering, the struggling industrial services group, has sold its US speciality chemicals company Unichem International to The Western Company of North America for dollars 19.8m ( pounds 13.5m).

Powerscreen International is to buy Simplicity Engineering and Ludlow-Saylor from Lukens, a publicly traded company based in Pennsylvania, for dollars 13.5m. Simplicity Engineering makes and services heavy-duty material processing systems while Ludlow-Saylor produces woven-wire cloth and cast polyurethane screens in the US.

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