LONDON (ShareCast) - Shares in Qonnectis doubled after the energy and water conservation group said it continued to substantially raise revenues compared to last year.

"The company has continued to grow revenues substantially in comparison to the previous financial year, thus maintaining Qonnectis' track record of significant sales growth year-on-year," it said.

The group said it has benefited from recent political and social concerns about energy and the environment, resulting in increased interest in smart metering and energy/water efficiency products.

It added that to maximise this opportunity and accelerate growth, it has reached an agreement to receive a £250,000 secured convertible loan facility repayable by January 2008 from Security Change Ltd.

Specialist healthcare group Ark Therapeutics said the first half of 2007 has seen substantial progress across key elements of its business, though losses increased.

Pre-tax losses for the six months increased to £11.2m versus £9.3m before on revenue that rose to £245,000 compared with £148,000 previously.

“We look forward to continuing our progress in the second half of the year, giving updates on products undergoing Phase III clinical development and the progress with our commercialisation activities,” it added.

Equity finance house SovGem said net asset value per ordinary share increased 18.24% in the first six months of 2007 to 33p. Total net assets came in at £7.6m from £4.9m previously.

"Since formation two and a half years ago, we have delivered on a Chinese focused investment mandate. We remain positive about the prospects both for our portfolio companies and the broader operational spheres they work within," said the group.

Ten-pin bowling group Georgica said same outlet sales for the 26 weeks ended 1st July 2007 increased by 0.6% and EBITDA was £11.9m compared with £10.5m in the same period last year.

Pre-tax losses for the 26 weeks to July 2006 came in at £0.7m compared with a profit of £1.7m previously.

The group completed the sale of its Rileys snooker business on Tuesday and said recently that it had received a number of approaches from companies interested in buying the company.

Resources royalties company Anglo Pacific said it produced record results with both earnings and net asset value increasing significantly. Pre-tax profit increased 22% to £15m.

“The group expects steady royalty flows in the second half of 2007 and is confident that the recent increases in underlying coking coal prices will be maintained for some time,” it said.

• News Channel