Company News in Brief

Haden MacLellan's pre-tax profits for the six months to 30 June were down 25 per cent at pounds 1.8m, despite the elimination of last year's disastrous losses in US operations. Operating profits fell from pounds 3.3m to pounds 2.1m. The interim dividend was held at 1p.

Unit Group, the engineering components and timber pallets manufacturer, slumped from pounds 139,000 pre-tax profit to pounds 388,000 taxable loss in the year to 31 March. The loss was due to the continued decline in trading volumes of its pallet business and steady erosion of profit margins. Loss per share was 6.3p (EPS 0.8p). No dividend.

Malaya Group, the retail motor business based in Sussex that holds franchises from Mercedes Benz, trimmed taxable losses from pounds 160,000 to pounds 153,000 in the half-year to 30 June. Loss per share was cut from 1.87p to 0.35p. No dividend.

Foreign & Colonial Enterprise Investment Trust, although unable to pay a dividend for the half-year to 30 June, registered a 46 per cent growth in net asset value from 45.3p to 66.3p.