LONDON (ShareCast) - Mobile software specialist Artilium has signed a software licensing deal with KPN Mobile International, estimated to be worth €15m over the 3-year term of the agreement.

"'The board believes the agreement announced today with KPN marks an inflection point for Artilium. It brings significant new revenue and serves as a proof-point for our Artilium Real-Time Architecture (ARTA) Connected Mobile Services technology," the firm said.

Losses in the half -year to September rose to £3.3m (2006: £1.4m), including a £615,000 non-cash, share-based payment. Revenue for the half-year was £907,000 ($£1.7m).

Video and DVD editing group Cheerful Scout posted a big interim loss in the six months to December as trading conditions got tougher. The loss of two large contracts and a slowdown in corporate spending cut sales to £696,000 from £1.1m with an operating loss of £239,000 (2006: profit £101,000). Pre-tax losses were £216,000 against profits of £116,000.

"Although the first half has been disappointing, we remain confident that the services we offer our clients are improving," it added.

Algeria-focused oil explorer First Calgary says it is extremely pleased with the progress made during 2007 and believes it is 30 months from production of reserves from Block 405b, which is the culmination of six years of work. Net losses in 2007 totalled $11.7m, down from $14.7m.

• News Channel