LONDON (ShareCast) - Et-China said trading in the first three month since listing on AIM has been strong thanks to the buoyant Chinese travel market.

The travel service group, which started trading on the junior market at the start of August, reported profits of £3.61m on gross revenue of £55.46m.

“We have achieved excellent growth in the third quarter of the calendar year and with the strong growth of the Chinese economy we are looking forward to a strong year of tourism growth for 2007 and beyond,” said president and chief executive Matthew Ng.

Information and knowledge management company IDOX rallied on news that it has won a five year electronic document and records management system contract with Cambridge City Council, worth £500,000.

The software will be implemented across Cambridge City Council in a phased approach commencing immediately.

“This contract is one of the largest awarded to IDOX and further evidences the growing sales opportunities from the combined IDOX and CAPS Solutions businesses,” said the group.

China Shoto, a Chinese producer of industrial batteries and power supply systems, has signed a $10m deal with Reliance Communications to supply 2V AGM batteries for broadband telecommunication service applications.

“This latest contract allows China Shoto to take advantage of the huge opportunity in India's booming telecoms market,” said chairman Cao Guifa.

The order is expected to be delivered before the end of this year.

Shares in Subsea Resources sank after the wreck salvage specialist said the ship it found in 2005 is not, as previously thought, the 19th century bullion wreck code-named Ella.

• News Channel