GNG.L Share News (GNG)

Foam maker Zotefoams said trading is ahead of the expectations for the first six months of the 2010."Although we remain cautious that trading conditions in the remainder of the year may be more challenging, we expect profit before tax to be above market expectations for the year as a whole. The group said volumes in its Polyolefin foams business have increased "significantly" compared to the first half of 2009. It has also experienced growth in all major markets, with Europe and Asia particularly strong. TT electronics said improved trading conditions reported in May have continued, with sales well ahead of the same period last year across all divisions. Results for the first six months of the year are anticipated to be in line with the board's expectations. Industrial services firm Cape has announced the establishment of a Joint Venture with the State Oil Company of Azerbaijan. The SOCAR-Cape JV, owned 51% by SOCAR and 49% by Cape, will pursue opportunities associated with the future development of the oil and gas sector in Azerbaijan. WorldSpread said that despite a negative macro-economic environment, it has seen profits surge to €3m, from €246,000 last year, and revenue surge 85% to €12.89m.Leed Petroleum said following a platform shut in required for minor maintenance work at Eugene Island A-7, which finished on 27 June 2010, it has been unable to restore production due to suspected sand plugging. "The company is preparing to run diagnostic tests to determine the action required to bring the well back to production," it said.Construction and property consultancy Cyril Sweett has reported a small decline in full-year profit, but still "slightly" above the current market expectation.Profit before tax for the 12 months ended 31 March dropped to £2.1m from £2.2m on revenue down to £65.6m from £78.9m. Boss Dean Webster is confident, although he expects the market environment to remain tough.Sweett has also gained access to the Japanese market by setting up a tripartite alliance with its Chinese partner Widnell and Japanese firm Meiho Facility Works.China-based provider of enterprise content management (ECM) software and solutions, GEONG International, saw revenue fall 15% in the year to March as low margin third party product declined by 69% to £1.3m.Turnover was down to £12.5m from £14.7m in 2009, although profit jumped 34% to £2.3m, said the group which will now focus more on profitability and improving cash collection. It has also secured a three-year equity financing facility of up to £5m with Darwin Strategic Limited, which it intends to draw down to bolster acquisition funding. Trading at building contractor Interior Services has remained resilient during the year ended 30 June, in-line with management expectations."Our UK businesses have performed strongly ahead of expectations and this has offset a delay in the expected pick up in international markets," said the company whose current order book stands at about £740m, down from £822m in June 2009.Energy storage and clean fuel company ITM Power is taking part in a joint industry project directed at establishing a suite of analytical methods for the measurement of trace-level impurities in hydrogen.ITM is contributing to the project by providing samples of electrolytic hydrogen as feedstock to the analysis process and hosting sampling tests.Pre-paid debit cards marketer Hertford International Group has had its shares suspended from trading while it sorts out its full year results for 2009.