LONDON (ShareCast) - AG Barr said revenue in the first 15 weeks is ahead of the comparative period last year adding that it is on course for another successful year despite competitive trading conditions across the drinks category.
"This is a particularly positive performance in light of the excellent weather experienced during April and May of last year and reflects the continued progress being made across our portfolio," said chairman Robin Barr.
Ocean Power Technologies and Griffin Wave Power have signed a Joint Development Agreement for the development, construction and operation of a wave power station off the coast of Western Australia. The agreement paves the way for the development of a wave power station capable of producing up to 10 MW, with potential expansion to 100 MW.
Drilling on Kiwara's Kawanga uranium target situated within Prospecting licence 267 has intercepted uranium at potentially viable grades in four drill holes which confirms historic findings with the most significant intersection assayed is 0.87% U308 over 1m.
"These results are very encouraging and confirm previous statements as to the uranium potential of the licence area. The company will embark upon a further work programme with the intention of delineating resource, both at Kawanga and other locations within the licence area," chief executive Peter Vivian-Neal said.
IT outsource specialist China Eastsea Business Software expects to report an operating profit ahead of market expectations for the year ended 28 February 2008, it said in a very brief statement.
Internet network products supplier BATM Advanced has received its first orders to provide the Carrier Ethernet Access Platforms for a major 4G project in the US. The project is the first of its kind in the US.
"Whilst the initial value of the order is expected to be several hundreds of thousands of US dollars, the company expects these orders to grow significantly as the project evolves. The award also provides confidence for similar trials, currently underway in other geographical areas," it said.
Miner Albidon said it will obtain more information from Lion Selection after the group said it intends to sell its African Lion funds, which has a 27.5% interest in Albidon.
"Albidon will be in contact with Lion Selection to obtain more information regarding its announcement and will consider the possible ramifications of Lion Selection's announcement in the context of the advice it is obtaining from Royal Bank of Canada," it said.
Albidon said that it continues to work with the Royal Bank of Canada to assess corporate opportunities and to implement its growth strategy.
Vaccine developer Acambis said its trading performance has remained in line with the board’s expectations since the time of the publication of its full-year results on 23 April.
Health and care personnel supplier Nestor Healthcare said results for the first four months of the year are in line with current expectations.
In Social Care revenue is in line with last year as benefit from acquisitions compensate for shortfalls in certain branches, where care worker recruitment remains an issue.
Claims are running in line with expectations at reinsurer Alea Holdings, while investment performance has also yielded no surprises.
Alea said operating expenses are consistent with management expectations but the company continues to look for ways to scale these down in sync with its reducing liabilities and total assets.
The group’s investment committee and managers have shifted the investment portfolio’s asset weighting to a higher proportion of high quality mortgage-backed securities.
Primary Health, which provides properties for the primary health industry, said investor and tenant demand for modern primary care facilities remains high. Yields are relatively stable, it added.
Interactive gaming company NetPlay said it was please with trading in the first quarter of 2008. The group said EBITDA was £843,000 for the first four months, with April exceeding £300,000.
Revenue for continuing operations increases 61% to £9.4m but pre-tax losses for period increased to £4m from £164,000 last year due to higher cost of sales and a £2.4m exceptional charge.
Lansdowne Oil & Gas said it expects there will be some moderation in strong product prices in the coming months which it hopes will spill over into the cost of drilling rigs and associated services. The loss after tax grew to £1.1m from £0.4m, which includes a £0.5m write-off.
Interim profit at cake and confectionary maker Lees Foods will be lower than last year as the early Easter hit ice cream cone sales at Waverley and meringue sales at Lees and as the firm struggles to cover rising costs. Full year profit rose 7% to £720,691 on sales up 5% to £15.1m.
Data centre operator and web hosting firm iomart has won a three-year £1m plus colocation managed services contract in its London data centre, effective from 1 June.
Financial Payment Systems said its nomad and broker Daniel Stewart is resigning due to the ongoing boardroom tussle at the financial systems firm.
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