Brady, a provider of trading, risk management and settlement solutions to the energy, metals and commodities sectors, has said that it is in a payment dispute over software with a customer that it signed in 2011.
The firm said the customer has made payments to Brady totalling £288,000, but has "not paid a number of further amounts in line with its contractual obligations". Discussions over the payments have broken down. Brady said it believes that the software has been delivered and it has been accepted by the client, adding that it "will consider all possible legal avenues for collection of the outstanding amounts".
Oxford BioMedica, a gene-based biopharmaceutical company, posted a narrowing of pre-tax losses from £9.0m to £5.7m for the half year to the end of June. Revenue for the period fell from £4.95m to £4.44m, after margins were boosted by a fall in research and development costs, from £11.8m to £6.9m. Basic losses per share dropped from 0.88p to 0.52p. Cash at the period end fell sharply from £20.2m to £1.6m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Densitron Technologies, an information display systems manufacturer, has reported a 6.2% decline in revenue for the half year ended June 30th, to £10.6m (2011: £11.3m). Pre-tax profit fell from £0.5m to £0.04m, while more positively the order book increased by 4.5% to £11.7m (2011: £11.2m). Earnings per share of 0.52p turned to a loss of 0.11p. The interim dividend was maintained at 0.2p per share.
