LONDON (ShareCast) - Managed Support Services reported a pre-tax loss of £8.9m for the six month ended 31 March on revenue of £16m but said that current trading is now profitable.

“We have successfully established profitable trading, a considerable result when the Group was losing £1 million a month, in cash, only six months ago. We now have a stable platform from which to rebuild shareholder value,” said chief executive Simon Beart.

Jubilee Platinum has raised its beneficial interest in Tjate Platinum to 63% from 48.72% after it got approval from the South African Reserve Bank to purchase all 5,300 of the 'A' preference shares in New Plats (Tjate) Proprietary.

Kurawood has secured a series of purchase orders for its products from flooring specialist retailer Floors-2-Go. Initial purchase orders received total £103,000.

Heritage Oil expects drilling in Block 1, Uganda to start in the third quarter and in Iraq's Kurdistan region before the end of the year.

TG21 shares fell back as it warned its legacy audio insurance replacement business has slowed sharply while its embryonic black box motor insurance business is running well below anticipated volumes.

Demand for black box installations for the fleet insurance market is falling well short of the volumes forecast at the start of the year by the insurance industry, TG21 added, and it now does not expect sales to grow in the second half of this year.

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