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Chief Executive Geraint Anderson commented: "Overall we are pleased with the resilience of the business in the current economic conditions. We have continued to make progress reducing our cost base with key projects delivered ahead of plan, and additional programmes now underway." "These activities, together with an improving product mix, will deliver further margin growth in a more challenging market environment in the second half. Our global strength has positioned us well with both emerging key accounts and traditional customers, and we have won several major new contracts," he added. TT Electronics underlined its confidence in future trading by boosting its dividend payment by a quarter. A dividend payment of 1.5p per share has been offered, up from 1.2p the year before.

Shares of electronic component and sensor technology firm TT Electronics plummeted on Wednesday after it revealed that first-half revenues slipped on the back of tough market conditions. The Surrey-based group, which supplies electronic components to manufacturers in the automotive, defence, aerospace and medical industries, saw revenue fall 3.8% to £271.2m from £281.8m the same time a year earlier "reflecting more difficult market conditions and the planned exit from certain lower margin projects." Last year's period also benefitted from a pull-forward of orders following the Japanese earthquake. Adjusted for a foreign exchange loss of 0.9%, the underlying decrease was 2.9%. Nevertheless, adjusted profits before taxation was unchanged at £13.3m in the period. Adjusted figures exclude exceptional items such as a £0.8m charge in 2012 and a £7.5m pensions credit last year. Headline earnings per share rose to 6.0p from 5.7p. On a reported basis (which includes these exceptionals), pre-tax profit dropped from £20.8m to £12.5m.

Shares of spread betting firm London Capital Group fell after it reported a drop in half yearly profit as it pursues a settlement strategy for outstanding FOS claims. Pre-tax profit fell to £0.15m in the six months ended 30 June 2012 from £2.69m a year before following recognition of additional provision for FOS claims of £1.9m. Adjusted profit before tax fell to £2.05m compared to £3.01m in the same half a year earlier reflecting lack of market volatility. Revenue was little changed at £18.41m compared to £18.34m previously. Commenting on the results, Simon Denham, Chief Executive, said: "The business operated against a backdrop of difficult market conditions in the first half of the year. Notwithstanding a lack of market volatility, our core spread betting and CFD business has performed well and, in line with our growth strategy, we have signed a number of significant new White Label partnerships and continue to see growth opportunities in this market." He added: "We believe that our settlement strategy in relation to the outstanding FOS claims will reach a satisfactory resolution. We remain very well capitalised, with a strong cash position, and are encouraged by the medium-term prospects for the group."

"Despite some early minor delays and slightly lower than anticipated full year production volumes, the past few quarters have continued to deliver improving production volumes, a trend that is likely to continue in the near term," said Chief Executive Ian Harebottle. "This, together with the progress that has been achieve at our Mozambican ruby mine, provides management with the confidence that the coming year will continue to underpin Gemfields' ambitious growth plans."

Emerald miner Gemfields said a new focus on waste mining and previously reported delays meant production at its mines was down a third in the last year. However, the trading update also said recent quarters had delivered improving production volumes, a trend the firm was likely to continue in the near term. In year to the end of June, Gemfields recorded annual production of 21.1m carats, a 36% decrease in the record breaking 33m carats produced in 2011. In the final quarter, the company's reported production growth to 7.3m carats, from 4.9m carats in the prior quarter. Ore grade for the quarter was 181 carats per tonne, compared to 236 carats per tonne in the previous quarter. Unit production costs were 57c per carat, versus 85c per carat previously.

Melrose was also hit by industrial action at its South Batra plant in late May. Overall income from Egypt dropped from $97.1m in the first half of 2011 to $70.3m by the end of June. This is the major reason for the drop in group revenues. The main issue for the firm now is its recently announced merger with resources peer Petroceltic International. The idea is to form a regionally focused group targeting north Africa, the Mediterranean and the Black Sea. Adair admitted news of that merger had "somewhat eclipsed" Wednesday's interim results. Nevertheless, the market has certainly been watching

A drop in production at its Egyptian assets has seen oil and gas player Melrose Resources deliver half year revenues down year-on-year. Turnover for the six months to the end of June was $128m against $156m at the same point in 2011. Profits before tax came in at $52.1m versus $61.8m in the prior year while at the period end net debt stood at $263m, down significantly on the overdraft of $367m the firm was running last year. Robert Adair, the Executive Chairman, was keen to point out debt repayments meant the company would have a gearing ratio of around 60% by the year's end. Political difficulties in Egypt have made life complicated for Melrose since last year, with the firm uncertain it would be paid for the fuel it was providing to the Egyptian government. Happily, the authorities have kept to the agreed payment schedule despite political uncertain

The group's Chairman, Graeme Elliot also commented on the Health and Social Care Act, which he believes may create more chances for PHP to invest in health properties: "The Act brings major structural changes to the delivery of health care in England, transferring the commissioning of care to more localised Clinical Commissioning Groups. "This supports a UK wide drive to deliver an increasing number of healthcare services within local communities. To do this efficiently and effectively, an increasing number of high quality primary care facilities will need to be provided. The Group is well placed to provide this investment..."

Primary Health Properties, the property investment firm, has reported declining pre-tax profits but is rubbing its hands at the prospect of financing the new facilities demanded by the government's controversial Health and Social Care Act. Rental income in the six months to the end of June came in at £16.21m, an increase of 6.3% on the prior year, while operating profit grew 6.5% to £13.4m. Profits before tax came in at £4.2m, down sharply on the same point in 2011 when the figure stood at £11.9m. This may explain why the share price dropped 0.74% in Wednesday morning trading. A recent share issue has slightly dented the net asset value per share, bringing it down from 318.7p in December to 314.9p by the end of June. The second interim dividend has been agreed at 9.25p, up on the 9p paid last year and the 16th successive dividend growth achieved by PHP.

Chairman David Callear said notwithstanding challenging market conditions exacerbated by Jubilee and Olympic celebrations, recent new business wins reinforced the board's confidence about the group's trading prospects. "We remain confident about revenue and underlying earnings performance for the second half of the year," he said. Investors didn't appear quite so upbeat and pushed the company's shares down 6% in morning trading on Wednesday.

Office2Office, a provider of office supplies and solutions, was bullish on its prospects despite profits taking a hammering in the first half. The company reported revenues that rose to £113.2m in the six months to June, from £99.5m the year before. But pre-tax profit dropped by 75% to £0.7m, which the firm put down to non-recurring costs of £2.2m, increased finance costs, as well as a weak market for office products. It said higher borrowing levels were down to implementation costs and net working capital investment to support the new contracts. This had been compounded by increased borrowing costs after it renegotiated facilities last year. But the firm said its trading prospects justified it holding the interim dividend at 3.6p

Broadcast products group Vitec reported growth in profits and margins in the first half but said it was difficult to predict what the future held. Revenues in the six months to the end of June were up 2.7% to £176.5m. Profits came in at £17.5m, up 15.2% on the previous year, and the firm increased its interim dividend 6.3% to 8.5 pence per share. Growth in the firm's Broadcast & Video and Photographic businesses offset a poor performance from the Staging business - now sold - and significantly lower sales to the military, aerospace and government markets. Vitec recorded a net finance expense of £1.4m, £1m higher than last year, reflecting the higher levels of net debt mainly due to acquisitions that were funded using private placement debt facilities. "Although the macroeconomic environment remains uncertain and our order book visibility is limited, the Board's expectations for the full year remain unchanged," said Chief Executive Stephen Bird.

Land investor Inland Homes has won planning permission in Essex for a development that could be worth 26.5m pounds. The permission allows for 127 residential plots in an area of 6.5 acres in the northern part of St John's Hospital. Inland Home usually acquires land, wins planning permission then sells it on to developers.

Gold producer Medusa Mining has said that a fire has damaged around 120 metres of timbering at the Baguio Shaft belonging to its Philippines operating company Philsaga Mining Corporation. The fire was the result of sparks caused by welding activities. In response, the firm began processing stockpiles of the mine water settling pond fines from surface and underground to offset the lost production. The company said its production guidance of between 100,000 and 120,000 ounces remains in place. Work to fix the shaft is expected to take three months, after which it will operate with additional capacity.

Network monitoring solutions provider Endace has signed a partnership deal with 02 Networks, an Australian provider of data networking and network security solutions and services, enabling Endace to expand its presence in that part of the world. The partnership has been formed to enhance the UK firm's ability to provide customised data networking and network security solutions and services. Neil Templeman, Endace's Vice President Sales for Asia-Pacific, said the partnership signals the next area of growth for Endace in Australia and fits well into its existing strategy of building solid channel partnerships. "With experience working with Australia's biggest telcos, insurance companies, universities and banks, O2 Networks and its team match our expansion strategy in key areas and further build our presence in this important market," he commented.

Shares in Pursuit Dynamics were back on the rise on Wednesday after the fluid technology firm reassured investors that it continues to explore a range of options in terms of funding growth. The stock plunged 22% the previous day on speculation of a possible share placing. Back in June the company admitted it had failed to convert recent opportunities in multiple lines of business into exclusive licences and that it was cutting its head-count from 61 to 40. In Wednesday's statement, the firm said that while it weighs up its funding options it "continues to work on building its sales pipeline in its Brewing Food and Beverage line of business and in its Public Health & Safety line of business it expects to launch its M800 mobile disinfection unit into the market during September". The company has previously stated that its options for funding include industrial licences, joint ventures and partnerships. Cash balances at June 22nd were £6.1m.

Africa-focused oil and gas player Sacoil has lifted its cautionary statement over the buying and selling of its shares. The company had been involved in discussions over a possible "transaction" that would have had a material effect on the stock price. Those discussions have now been suspended: "until the negotiating parties are in a position where decisions can be made decisively and rapidly.

Tom Haughey, Chief Executive of Severfield-Rowen, said: "The group has continued to encounter challenges in the UK business with diminishing overall UK construction demand, the re-emergence of pricing pressure and the protraction of contractual settlements. "Despite the backdrop, the UK order book remains stable at £218m, which maintains full activity at all UK plants into 2013 and suggests further growth in market share. UK margins are nonetheless coming under pressure again as clients and the supply chain push much harder to compete in a shrinking market." He added: "Competitors in our sector remain under significant pressure, reflected in many cases by loss-making financial returns which are not sustainable and further rationalisation is expected in the industry."

Steel firm Severfield-Rowen is struggling against weakening demand from the construction sector and pricing pressure as competitors fight for market share. Underlying profits before tax in the six months to the end of June were £1.5m, against £3.4m in the same period of 2011, despite revenues growing from £122m to £135.9m. The problem for Severfield-Rowen has been pricing; as demand from the building industry in the UK has weakened, so it has had to lower prices. The firm was also hit by cost overruns on two major projects, reducing the margin from 4.7% in 2011 to 1.8% this year. The group's UK order book is now at £218m, up slightly from the £216m seen in May, while its Indian joint venture has orders worth £31m. The interim dividend has been maintained at 1.5p per share.

Positive Points: Cost control and productivity enhancing initiatives helped to keep unit costs for key products below prior expectations. Group production is expected by management to be at full available capacity across all divisions during the second half. Increased copper volumes are expected, as well as recoveries in iron ore and alumina volumes. The miner's capital expenditure programme has been reduced to $2.4 billion for 2012. Furthermore, the overall capital expenditure programme is in advanced stages of a review to reprioritise investment spend. The company has undertaken a number of acquisitions during 2012. In March it announced that it had acquired all of the residual copper assets relating to FQM in the Democratic Republic of the Congo for a total consideration of US$1.25 billion. In April 2012 it completed the acquisition of the outstanding 75% of the ordinary shares of Shubarkol, for an aggregate purchase price of US$600 million. Shubarkol is an important strategic acquisition, securing reliable access to a supply of high quality and low-cost thermal coal, with planned production in 2012 of approximately 8 million tonnes. The group's home base of Kazakhstan and its proximity to major economic powers such as China and Russia is seen as a transportation cost advantage over other rival resource companies. While the dividend has been cut, the pay-out ratio (its proportion in relation to group earnings) has been maintained.