Company News in Brief

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The Independent Online
P&P, the computer hardware and software supplier, doubled pre-tax profits to pounds 2m ( pounds 1m) in the six months to 31 May on sales of pounds 121.8m ( pounds 119.3m). The company attributed its robust performance to the successful disposal of high-volume, low-margin businesses last year. Earnings per share grew to 2.1p (1p). Interim dividend increased to 0.8p (0.7p).

Year to 31 March

Avesco, which makes equipment for TV broadcast, corporate video and multi-media industries, reduced pre- tax losses from pounds 2.3m to pounds 1.35m. The losses were incurred after financing charges of pounds 1.2m and pounds 3.3m for research and development expenditure. Turnover rose to pounds 23.4m ( pounds 17.9m). Loss per share was cut from 3.4p to 2.2p. Yesterday its shares rose 4p to 85p, having risen from last summer's 10p level.

Evans of Leeds, the property developer, edged pre-tax profits ahead to pounds 8.8m ( pounds 8.5m), aided by an increase in rental income from pounds 18.3m to pounds 19.2m. Earnings per share were 11.36p (10.67p). Final dividend is 3.14p, making 4.57p (4.15p).

Year to 30 April

Colefax & Fowler, the decorating and furnishings fabrics group, incurred pounds 395,000 pre-tax loss (profit pounds 704,000). Turnover slipped to pounds 28.8m ( pounds 29.1m). Loss per share was 1.05p (EPS 3.7p). Final dividend is 0.5p, making 1p (2.6p).

Farepak, mail order distributor and Christmas hampers group, reported a 14 per cent growth in pre-tax profits to pounds 5.5m ( pounds 4.8m) on sales of pounds 70.45m ( pounds 62.8m). Earnings per share improved to 16.26p (14.3p). Final dividend is 4.1p, making 5.75p (5p).

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