LONDON (ShareCast) - Shares in Highams Systems were on offer after the IT recruitment consultancy moved into a pre-tax loss of £495,000 compared to a profit of £25,000 last year following the investment in new staff, London premises and oversea expansion.

Turnover fell to £7.06m from £8.13m last time.

“We expect to see the major investments of the first half of the year start to make an impact in the last few months of the year, though their benefit will be more clearly evident in the coming financial year,” said the group.

Hazardous waste disposal specialist Augean has bought Hitech Equipment for an initial consideration of £5.9m in cash.

Under the terms of the deal, Augean will also buy the freehold of the Paisley site for an additional £0.35m in cash. The total of £6.25m will be satisfied by existing bank facilities, the group said.

An additional sum of up to £0.75m will be due in 2009 if certain performance criteria are met in the first 18 months of trading under Augean's ownership.

International Brand Licensing (IBL) has entered into a license agreement with Hong Kong-based Fortune Dragon to launch its Admiral brand in China.

The five year agreement will see the opening of up to 200 stores and concession outlets.

Shares in Qonnectisrallied as the energy and water conservation technology group has commercially launched its domestic water leakage monitoring device Leakfrog.

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