Floor coverings seller United Carpets has had to terminate a number of struggling franchises this year, which is likely to have a detrimental effect on the performance of the group, as it is proving increasingly challenging in the current environment to turn around failing stores.
PLUS Markets Group has agreed to sell PLUS Trading Solutions, its wholly-owned trading technology platform, to FORUM Trading Solutions, for £281,251, comprising an initial consideration of £1 and deferred consideration of £281,250. If the disposal is for any reason not completed, FORUM will continue to provide the services currently provided by PLUS-TS to PLUS-SX, on the same terms as previously agreed. The assets subject to the transaction are £48,000, with the group retaining any outstanding liabilities up to the date of disposal. PLUS-TS has no attributable profits and is loss making.
Tristel, a manufacturer of infection prevention, contamination control and hygiene products, has reported the successful launch of its new Anistel brand. One of the three major national wholesalers has agreed to stock the Anistel range, while discussions are progressing with the other two. Revenue for the year ended June 30th is now expected to be not less than £10.7m and as a result of the small adjustment to revenues the directors now anticipate that adjusted profit before tax will be no less than £650,000. The out-turn for the year may improve if the other two national veterinary wholesalers place their initial stocking orders by the end of June, the firm added. Current market expectations are for pre-tax profits of £0.9m on sales of £11m.
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Phaunos Timber Fund has had a grumble about the recent decline in its share price. "The Phaunos Timber Fund remains fully invested in high quality timber-land assets. The assets have been independently valued. The directors believe that the prospects for the company in the short, medium and long term remain strong and are confident that progress is being made on all important issues." The share price has fallen over 7.0% in the past week, and 40% in the past year.
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