LONDON (ShareCast) - Shares in Wilmington gained sharply after it confirmed that it is in talks over a potential offer for the publisher and events organiser.

A Sunday newspaper said private equity group HgCapital was mulling a bid for Wilmington, whose publications include the journalists’ magazine Press Gazette.

Lloyd’s insurer Advent Capital saw pre-tax profits drop to £1.6m compared with £6.7m last time and said that increasing competitive conditions in its principal lines of businesses are affecting rates and premium signings.

“We continue to maintain our focus on underwriting profitability while remaining alert to the changing business environment that our Lloyd's and Bermuda operations may have to contend with,” said the group.

ITM Power’s pre-tax loss for the year ended 30 April increased to £4m from £2.7m, but said that the outlook for the hydrogen fuel cell group “has never looked brighter.”

Video calling specialist iPoint-media has signed a teaming agreement with Sri Lanka-based systems integrator CNT International.

It said CNT will offer iPoint-media's 3G video calling and participation TV platforms to mobile operators, service providers and television broadcasters throughout Asia Pacific.

Wind turbine gearbox maker Hansen Transmissions was full of beans today as it said revenue grew 75% in the first quarter from a year ago to €139m.

The group attributed the rise to better supply of bearings and increased volumes due to expansion at the Lommel facility in Belgium. It also repeated guidance for turnover growth of around 50% in the full financial year 2009

• News Channel