Syndicate Asset Management Share News (SAM)

Traffic surveyor Sky High hit a new low Wednesday after reporting losses more than doubled to £299,000 in the six months ended 30 September.Turnover fell 12% to £2.23m, but the company says trading has improved since the half year end and results for those two months have shown a profit. The second half should be better than the first, they say.Fund manager Syndicate Asset Management trimmed its interim loss as revenue grew 7.5% and earnings came in as expected.There was a loss before tax of £284,000 for the six months ended 30 September compared with £431,000 a year ago. Revenue rose to £18.45m from £17.16m."The group has made significant strides towards returning all of its operations to profitability," chairman Peter Dew said. "We are confident that the initiatives and organisational streamlining now in train will allow the business to hit its year-end targets."A unit of Mountfield Group, a provider of construction support services, has been chosen by Cable & Wireless to repair and maintain the fabric of its estate of about 600 commercial buildings in the southern half of the UK. "The appointment is likely to provide significant revenue opportunities for Mountfield and the group has already received its first work orders," said the firm which also seeing an upturn in business at its core data centre market and its flooring systems division. Rare coins investor Avarae Global Coins narrowed its net loss for the six months to 30 September slightly, down to £136,500 from £140,000 in 2009, although sales leapt to £923,000 from £86,000. "The directors believe that Avarae remains well positioned as an alternative asset play as the market for the highest quality rare coins should continue to attract good demand and steady, predictable price growth," said executive director Diane Clarke. "Continued strong competition for the very best pieces, such as those owned by Avarae, should position the company well in the coming year."