LONDON (ShareCast) - CH Bailey plunged today after the engineer reported a pre-tax loss of some £0.4m compared to a wider loss of £0.7m a year earlier.

The group said the results are beginning to show the benefits of its restructuring over the last 12 months, though it warned world events would continue to impact on global interest rates and currencies.

CH Bailey announced in July that it was in talks to sell its Bute Dry Dock in Cardiff Bay to Quada (Dockside), adding today that talks were continuing.

Lo-Q, which supplies queuing systems to theme parks, said its cash position in the short term remains very tight but it hopes to continue trading through 2005 and remains hopeful it will secure further beneficial orders.

The group reported a pre-tax loss of £348,000 for the year to September against a loss of £1.4m a year earlier but warned that the weaker dollar was hitting its profits as it does much of its business in the US.

Bionex Investments reported a pre-tax profit of £406,000 for the year to September against a loss of £383,000 a year earlier, after the company sold its stake in Ark Therapeutics.

The sale generated £1m for Bionex as it realised or wrote off substantially its entire remaining investment portfolio, as it reiterated that it would not make any new investments in the unquoted life science sector.

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