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Adjusted profit before tax eased 13.15 to £7.3m from £8.4m the year before, but was better than the £7.03m the market had been anticipating. Adjusted earnings per share of 3.19p were just below market forecasts of 3.20p and were down 1.2% on the 3.23p seen the year before. Net cash tumbled 74.35 to £3.5m from £13.6m the year before but tangible net assets per share improved by 3.7% to 41.6p from 40.1p at the end of February 2011

Sales and profits were slightly ahead of expectations last year at car dealer Vertu Motors, while the new fiscal year has started well on the back of a reviving new car market. Revenue in the year ended February 29th rose 8.9% to £1,088m from £999m the year before, a share ahead of market expectations of £1,051m.

Oil prices could double over the next decade with sweeping implications for the global economy, according to a report commissioned by the International Monetary Fund. As oil prices remain at historically high levels of around $110 (£68) a barrel, the working paper warned a combination of rising demand and constrained supply could have major consequences. "Our prediction of small further increases in world oil production comes at the expense of a near doubling, permanently, of real oil prices over the coming decade," the report's authors concluded. "This is uncharted territory for the world economy, which has never experienced such prices for more than a few months." They said that research suggested energy accounted for up to 50% of overall gross domestic product, meaning "the implications of lower oil output growth for GDP could be very large." Persistently high oil prices are already threatening the global economic recovery according to a director of the International Energy Agency, The Telegraph reports.

"The UK box office not only benefited from the Avengers but the release of American Pie: Reunion helped boost weekend takings by [roughly more than] 70% [over] the same period last year (source: boxofficemojo.com). Not only is this momentum positive for admissions but retail sales and premium priced 3D tickets should provide an additional boost for box office sales," Canaccordd reckons.

business. We expect the outlook statement to reassure and believe Compass remains a very attractive stock given its US exposure and high returning business model with a very strong balance sheet," Panmure Gordon said. Cinemas operator Cineworld gives a trading update on Wednesday and broker Canaccord thinks the company will be rubbing its hands in gleeful anticipation of the box office business it is likely to do with the new film based on the Marvel comics superhero team, The Avengers. The film broke box office records on its opening week-end.

Panmure Gordon is forecasting Compass's profit before tax will be £565m, giving earnings per share of 22.5p, and it, too, is predicting an interim dividend of 7p. "At the pre-close update the group remained encouraged by the pipeline of new

"The operating profit margin is expected to be at the same level as the first half of last year. Nevertheless, Compass still sees plenty of opportunity to improve margins over the medium term and there should be an uptick in the second half of 2012," Shepard observes. The first half margin has been affected by the mobilisation of a very large contract, continued investment in the fast growing areas as well as the negative impact from the challenging trading conditions in Europe, Shepard notes.

Interim results from contract caterer Compass should show the benefit of new contract wins and high retention rates. The figures could show revenue growth of 8.5% and organic growth of 5%, according to Charles Stanley analyst Tony Shepard. The broker is forecasting pre-tax profit of £560m, up from £531m last year. The interim dividend is forecast to increase to 7p from 6.5p

"Furthermore the recent cost reduction programme will result in overhead efficiencies in the year and accordingly we are confident that the group's financial performance in the current year will be back on plan.

Ian Blackburn, Chief Executive commented: "Although Easter orders were disappointing and consumer markets remain challenging, we are optimistic about the opportunities in this financial year following recent significant new everyday wins, which further reduces our dependence on seasonal business. We have also added two strong brands to our growing portfolio with more in the pipeline."

The group said it has started the new financial year on a positive note, after it confirmed £13m worth of new business to start this summer. Zetar's new Guinness brand ranges of chocolates and nuts will begin to appear on shelf this summer as well as Olympic Games gift biscuits and snack packs.

A reduction in anticipated Easter confectionery sales and the strategic exit from a significant volume of low-margin commodity snack products resulted in a 5% reduction in overall group revenues, in line with current market expectations, the group explained. Relatively disappointing Easter sales were offset by an increase in everyday sales, Zetar added.

The aim listed firm said total group sales fell 5 per cent to £128m in the year ended 30 April 2012 after a mixed performance at its two main divisions. Confectionery sales increased 2% to £88m while natural snacks slumped 18% to £40m.

Snack foods group Zetar said full year sales and pre-tax profit are in line with current market expectations and is confident its performance in the current year will be back on plan.

Net debt as at May 4th 2012 was around £6.5m, compared with net cash of £15.2m at the start of the year, due to seasonal outflows of working capital and planned capital expenditure. The group's performance for 2012 is anticipated to be in line with the board's expectations.

Order receipts have been good during the reporting period, especially for the Components and Sensors divisions, with many key account customers outperforming their sectors, providing visibility for a strong second half performance, the group said.

Global electronic components supplier TT Electronics said sales in the first four months of the year (at constant exchange rates) were on a par with last year. The group counted this as a good result, given the sharp increase in orders in 2011 following the Japanese earthquake.

JKX also announced that its wholly-owned subsidiary, YGE, has been awarded the Giorgievskoye exploration licence in the Republic of Adygea, southern Russia, ensuring that the whole of a previously mapped field area is now secured under licences held by the company.

On the same day the company reported that commercial gas delivery from the Oshekhablskoye field in southern Russia has commenced, meaning the company is now able to focus on the next phase of the field.

The company said it expects production in the second quarter to reach 8,500 boepd. The realised gas price leapt 50.4% from $8.25 yo $12.41 per million cubic feet, while the realised oil price increased by 8.1% from $92.29 to $99.80 per barrel.