UTN.L Share News (UTN)

Environmental Recycling Technologies told investors at Wednesday's annual general meeting that it has been able to appoint a Chief Operating Officer, who will enable the firm to "focus greater resource on new technical and commercial opportunities". The firm expects to be able to appoint a full time Financial Director in the future. The 2K Manaufcaturing business has continued to make improvements to productivity at its flagship operating in Luton, while its environmental and recycling initiatives are gaining traction internationally, with the funding which is being made available by local and national governments giving the firm great encouragment. Ultima, an IT and green technology company, has posted an operating loss of £29,000 for the first half of 2012, down from £195,000 for the same period the previous year. This was on revenue of £1.42m (H1 2011: £1.54m), which was hit by a reduction in sales of electronic bicycles into mainland Europe. Following considerable investment, cash was reduced from £0.576m to £0.258m. No dividend was paid. Lighthouse, a financial advice and wealth management group, has had its contract renewed with the Association of School and College Leaders (ASCL) for a further three years. LFA has worked with ASCL for three years, providing financial advice to its members across the UK, and the contract is the latest in a series of successful affinity partnerships for Lighthouse.NR