Nexus Management, the AIM-listed provider of specialist IT Managed Services, has announced that, as part of the strategic review process, it is considering a range of alternatives to maximise value for shareholders, including a possible sale of Resilience Technology.
To assist in the potential sale of Resilience, the company has appointed advisers to help it in identifying potential third party buyers. The firm also said the board has granted permission to the management team of Resilience to explore a management buyout of this business. "The above process is still at a very preliminary stage and a further announcement will be made in due course," the company said.
Media company Talent Group saw a boost in both revenues and profit for the year ended September 30th. Revenues rose from £0.65m to £0.87m, while gross profit was £0.5m, comparing favourably to £0.3m the previous year. Pre-tax profit figures moved into the black at £0.02m, compared to a loss of £0.49m the previous year. No dividend has been proposed. The firm said the improvement is largely based around three large projects undertaken during the year, all of which should continue to contribute to group profitability over the next 12 months.
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Brightside, a specialist insurance broker, has reported a "solid" trading performance at the end of last year and expects to report results for the year in line with expectations. "This will represent a record year for Brightside, reflected in a significant increase in reported earnings per share," the firm said." The balance sheet remains strong and well supported by operational cashflows. The benefits of the recent acquisitions are already being reflected both in operational improvement and in increased earnings. The firm said it remains confident of delivering significant earnings growth in 2012 and for the foreseeable future.
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Mining firm Continental Coal saw a "continued strong performance" of export operations in South Africa. The process under which the Sishen Iron Ore Company Community Development Trust became the company's new partner in South Africa is almost completed and ZAR 140m is set to be advanced to Continental Coal.
Preliminary results for the December 2011 quarter for Mashala Resources, the subsidiary that owns and operates the Ferreira Coal Mine and Delta Processing Operations, indicate that exports of high quality export thermal coal through the Richards Bay Coal Terminal have exceeded previous record exports by over 30%. Unaudited revenue and earnings before interest, tax, depreciation and amortisation have exceeded the September 2011 unaudited results by over 35% and 70% respectively.
Mediterranean Oil and Gas has said that there is no change to the current status of its Ombrina Mare project and its ongoing permitting process after no reference was made to the development of offshore oil and gas fields in Italy.
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