Company News in Brief

McKay Securities, the property developer and investment company, fell from pounds 3.8m to pounds 3.2m in the year to 31 March. The continuing decline in property values forced it to reduce the book value of investment properties and properties in the course of development by 10 per cent. Final dividend is 3.5p, making a higher total payout of 6.7p (6.4p).

BPP Holdings, the training and publishing group that owns Linguarama, the language teaching business, lifted pre-tax profits from pounds 2.2m to pounds 2.9m for the half year to 30 June. Turnover increased from pounds 19m to pounds 23.3m as demand for professional, vocational and language training courses continued to grow. Interim dividend is 2.7p (2.4p).

Robert H Lowe, the sports and childrenswear supplier with interest in printing and packaging, lowered pre-tax losses from pounds 396,000 to pounds 162,000 in the six months to 30 April. Although turnover fell to pounds 15.5m ( pounds 15.8m), trading profits increased 30 per cent to pounds 526,000. Interest costs were reduced by 22 per cent to pounds 624,000. No dividend.

De Morgan Group, which derives most of its income by providing property investment and finance advise, reported deeper pre-tax losses of pounds 1.7m (loss pounds 1.1m) for the year to 31 March. Turnover almost halved from pounds 2.7m to pounds 1.4m. No dividend.

City Merchants High Yield Trust declared a second interim dividend of 2.875p, making 4.875p for the half year to 30 June. Net asset value is 101.5p per share.

Dunedin Income Growth Investment Trust has maintained the dividend payment for the half year to 31 August at 8.4p. Net asset value per share fell to 506.5p (596.7p).

Fleming High Income Investment Trust has declared an unchanged first dividend payment of 1.45p for the period to 31 July.

Jos Holdings, the investment trust, is paying a final dividend of 3.9, making 5.65p (5.5p) for the year to 31 July. Net asset value per share is 163.58p (180.85p).

Rosebys made pounds 606,000 ( pounds 493,000) pre-tax profit in the six months to 30 June. The interim dividend is held at 1.9p.