Staffline Group, a recruitment organisation focused on the food processing, manufacturing, e-retail and logistics sectors, has acquired certain assets from DKM Driving, which specialises in the provision of temporary drivers to a number of corporate customers in the Midlands area. The acquisition is part of Staffline's strategy of making selective acquisitions to broaden its revenue streams. No further information was given.
Physiomics, an Oxford-based systems biology company, has signed a new fee-for-service agreement with a major pharmaceutical company. Under the deal, Physiomics will determine the optimal dosing and timing of a combination of two compounds currently under development by the customer. "If successful, we hope that this first project will lead to the implementation of our technology across several future projects with this customer," the company said.
Lonrho, a sub-Sahara focused investment company, has posted a rise in first half revenue from £68.6m to £122.9m, with a gross margin of 25.6%. Net assets at the period end were £209.8m, compared to £155.7m at the end of December 31st 2011. Net debt fell by 23% from £102.7m to £78.7m over the same period. Pre-tax profit for the six months came in at £23.5m compared to a loss of £3.3m for the six month period to March 31st the previous year. The firm described the period as "very successful" saying it is in "a solid position to continue to deliver on its core businesses".
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Digital Learning, which makes education software, has placed 276.6m shares at 0.1p each, raising just under £0.28m as part of its restructuring announced earlier in the year to reduced its cost base and strengthen finances. During this period of transformation, the company saw income decline from £1.6m to £0.9m, mainly due to the sale of a part of the business. However, it wasn't a fair comparison as it compared the nine months to December 2011 compared to the year to March 2012. A pre-tax profit before financing of £0.16m fell to a loss of £0.4m.
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