LONDON (ShareCast) - Engineering specialist group Metalrax said pre-tax profit before exceptionals fell to £1.8m compared with £3.6m last time, due to challenging trading conditions.

Including exceptionals, pre-tax profit rose to £3.7m compared with £2.4m in the same period last year on sales that rose to £57.9m from £52.3 previously, reflecting the contribution from acquisitions.

Antique furniture dealer Mallett said pre-tax profit for the first half slipped to £1.15m compared with £1.32m last year, partly due to slightly higher costs and lower margins. Sales were flat at £8.8m.

The group added that the second half has started slowly and market conditions for the rest of the year are expected to remain challenging.

It also revealed a conditional agreement to sell its leasehold interests in Bourdon House to Richemont Holdings for £14.25m.

Telephony speech solutions provider Telephonetics saw pro-form revenues for the half year rise 18% to £5.62m while pre-tax profit jumped 121% to £947,000.

Vitro diagnostics group Axis-Shield saw total revenues in the first half rise 8.1% to £31.6m, while pre-tax profit more than doubled to £1.1m versus £429,000 last year.

Software services provider Sophean saw turnover rise 50% in the first half to £3m, which narrowed pre-tax losses to £200,000 compared with £900,000 previously.

• News Channel