Churchill China Share News (CHH)

Circle Oil has confirmed a discovery at its Geyad-1X exploration well in the onshore North West Gemsa concession, Egypt.The well tested at a sustained average combined rate from two pay zones of 2,809 barrels of oil per day (bopd) and 3.04 millions standard cubic feet per day (MMscfd).Ceramic tableware and household goods group Churchill China says UK revenues in the year to date are similar to a year ago, but exports have remained weak."Whilst we continue to expect that our overall margins will remain somewhat lower across 2009, our related plans to optimise inventory levels are ahead of target," it said.Buy-to-let mortgage specialist Paragon reported a plunge in half year pre-tax profit to £15.9m from £26.4m a year ago, but raised the dividend by a tenth of a penny to 1.1p a share."Careful management has ensured that the portfolios have continued to perform well despite the economic conditions," it said. "The group remains in a strong financial position with its franchise intact."Public sector software and services provider IDOX has won £1.65m of contracts with Cornwall and Central Bedfordshire councils to supply its land and property information systems.The Cornwall deal is worth £650,000 over five years and the Bedfordshire contract £1m over seven years.Shares in Delcam dropped after the group said its current trading performance has declined against budget, particularly for software sales.The group now expects pre-tax profits for the year to 31 December 2009 to be in the region of £1.2m. Losses at pharma group Renovo rose to £8.7m, from £7.35m in the half year to March, with sales up a touch to £4.1m. Cash burn was £12.6m, up from £12m."Our key focus continues to be the progression of our lead product, Juvista, through the European Phase 3 programme. The first Phase 3 trial in scar revision surgery is currently recruiting patients across nine countries and is on track to report in the first half of 2011," Renovo said. Cash at end March totalled £73m.Contractor Renew's profits slipped by a tenth to £3.5m in the half year to March on sales of £171.6m, down from £192.9m. "The economic climate continues to provide a challenging business environment. Despite these difficult trading conditions, our Specialist Engineering business has continued to grow with stable margins," chairman Roy Harrison added. The dividend is unchanged at 1p.Shopfitter Havelock Europa reports mixed levels of activity since January. Business has remained good in the Educational Interiors Division, but trading in the Retail Interiors and Point of Sale Divisions has continued to be challenging and below last year. Order visibility continues to be limited. Closed end life group Chesnara said the fundamentals of its business are performing ahead of expectations, despite volatile equity markets hitting first quarter results.Losses before tax almost halved at video search specialist blinkx as revenues more than doubled.Loss before tax in the year to 31 March 2008 narrowed to $9.33bn from $16.3bn in the 49 weeks to 31 March 2009, on revenue that grew from $6.55bn to $13.93bn.The share price of penny stock Eco City Vehicles shot up after the company unveiled its first hybrid tuck that will run on electric propulsion, backed up by an on-board liquefied petroleum gas generator.The vehicle has been developed in conjunction with Veicoli Ecologici Metropolitani (VEM) of Italy. Eco City will have exclusive distribution rights for the truck in the UK and Ireland.Real Estate Opportunities said that although market conditions remain difficult, its business continues to perform well. The group said the portfolio continues to maintain high occupancy, in excess of 95%, and generate a robust income stream. Network monitoring solutions provider Endace saw pre-tax profits rise to $4.7m from $4.5m before on revenue that increased by 26% to $30.4m. "Revenues in the early months of the current year are in line with our expectations, with the telecommunications and government sectors remaining healthy and financial services markets showing signs of recovery," added the group.Shopfitter Styles & Wood said revenues for the period from 1 January to 30 June are anticipated to be in line with revised expectations but almost 40% down compared with the same period last year. The current secured order book stands at £97m, but the group said it is too early to predict a full year outturn due to difficult market conditions.