Company News in Brief

Black Arrow Group, the office furniture distributor, tumbled from pounds 13.3m to pounds 2m pre-tax profit in the year to 31 March. Turnover rose 24 per cent to pounds 24.4m ( pounds 16.5m). Earnings per share are 5.02p (3.79p). Final dividend is 1.6p, making 2.6p (2.1p).

Grosvenor Development Capital, which provides venture capital to private companies, has incurred pounds 206,000 taxable loss (profit pounds 3,000) for the six months to 31 May. Loss per share is 1.91p (earnings 0.02p). No dividend.

Half-year to 30 June

Baring Tribute IT has maintained the dividend at 1.7p. Net asset value per share grew to 340.5p (274.7p).

Smaller Companies IT has held the dividend at 1.2p. Net asset value per share improved to 124.65p (88.95p).