Avocet targets growth after setback 18/03/2010
Gold producer Avocet Mining hopes its Wega acquisition will take 2010 group output to 200,000 oz after a flat nine months.
Azure wins US deal
Depressed hybrid electric vehicle specialist Azure Dynamics has won an initial order from New York-based energy and utility giant Con Edison.
Quoted on both sides of the Atlantic, Azure says Edison has ordered three units using the company’s Balance Hybrid Electric system, integrated on Ford’s E450 chassis. This system boasts a range of attributes, such as ‘engine-off at idle and below 20 mph’, while electronically supporting air conditioning, power steering and braking.
The Edison contract follows the launching of a £13 million private placement by Azure at C$0.25 (13p) to fund product development and commercialisation. Azure shares, which reached 78p three years ago before plunging to 7.5p earlier this month, have rallied to 12.25p, valuing the company at £40.7 million.
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Interim progress at Ultimate Finance 18/03/2010
Small and medium sized company financier Ultimate Finance has increased first-half profits 36 per cent to £191,000 pre-tax.
Turnaround at TEG 17/03/2010
Organic composting specialist TEG Group is pursuing long-term contracts after turning £1.6 million annual losses into £155,000 pre-tax profits.
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