Cpl Resources ShareCast News (CPS)

Speciality drug developer AGI Therapeutics posted narrower losses in the six months to June 30 and said it was on the look-out for 'external opportunities.'

The company, which is developing treatments for gastrointestinal disorders and multiple sclerosis, saw pre-tax losses narrow to $3.1m from $9.3m. Revenues were down to $67,000 from $288,000.

'We are now focusing our efforts on identifying external opportunities which will serve as the future foundation for our business,' chief executive John Devane said.

Growth in its coal mine methane business helped alternative energy group Alkane Energy post a rise in profits in the half year to June 30.

Pre-tax profits climbed to £653,000 from £420,000 over the same period the previous year as revenues rose to £3.1m from £2.8m.

Irish recruitment group CPL Resources managed to lift profits in the year to June 30 despite seeing revenues fall amid an extremely difficult period for Ireland's economy.

Pre-tax profits rose to €5.3m from €1.7m, even as sales fell to €189.9m from €212.4m.

Futura Medical, the consumer medical healthcare company that has developed a 'viagra condom' said it made good progress towards becoming profitable in the six months to June 30.

Remote control handset maker JS JS has completed a placing of 15m shares at 2p a go, raising £300,000 for 'working capital purposes.'

Pre-tax losses narrowed to £598,000 from £706,000 over the same period the previous year. The company posted revenues of £125,000, from nil previously.

Precision engineer Avingtrans saw earnings slip back last year but at least the second half was better than the first, while recent contract wins should "underpin an improving performance over the next 12 months," chairman Roger McDowell said.

Profit before tax slumped to £0.47m in the year to 31 May from £1.83m the year before on revenue that tumbled to £28.6m from £37.6m the year before. Net debt was reduced to £7.8m from £10.1m at the end of May 2009 and gearing came down to 36% from 48%.

Zenergy Power shares fell back after the superconductor energy technology company reported bigger losses in the six months to June 30 after contracts failed to materialise as quickly as the company hoped.

The firm posted a pre-tax loss of €6.2m, more than the €5m deficit seen the previous year, on revenues that climbed to €646m from €214m.

The company said orders planned for delivery in the second half point to an improvement in trading.