Company News in Brief

Prospect Industries, the specialist engineer and services provider, reduced taxable losses from pounds 1.2m to pounds 489,000 in the six months to 31 March, helped by pounds 736,000 profit it made from the sale of loan stock acquired two years ago. Turnover eased to pounds 21.4m ( pounds 22.1m). Loss per share was cut to 0.5p (0.54p). Dividend 0.29p (0.275p).

Year to 31 March

Banner Homes, the construction and developement group, sharply increased pre-tax profits from pounds 250,000 to pounds 1.2m, on a 25 per cent growth in turnover to pounds 8.3m ( pounds 6.6m). It sold more than twice the number of units than in the previous year. The company said this reflected the returning confidence of the house buyer. Interest costs fell to pounds 752,000 ( pounds 1.1m). Earnings per share jumped to 8.3p (1.9p). Final dividend is 1p (nil).

Umeco, the aircraft refuelling equipment maker and distributor of aerospace components, more than doubled pre-tax profits to pounds 511,000 ( pounds 211,000) on turnover of pounds 13.4m ( pounds 11m). Earnings per share are 3.53p (2.27p). Final dividend is 1.25p making 2p (1.75p).