Dyson Group the Sheffield-based materials technology company gave a cautious assessment of its prospects for the remainder of the year, but said it was making good progress in its planned restructuring. The company is taking appropriate action to conserve cash and, in a difficult market, achieved broadly flat sales, but profit and earnings fell.

Osset-based Carclo presented strong first half results this week and increased the interim dividend 8.3 per cent. Profit before tax was up 10 per cent and some divisions seemed to defy the general economic gloom with exceptional rises. The group saw reduced demand in its automotive and electronics markets but the impact of this was mitigated by the strong performance of its medical optical businesses.

VP, the Harrogate equipment rental specialist, published a sparkling set of interim results this week. In challenging markets the management have increased revenue by 7 per cent to £81.6m, operating margins by 1.2 per cent to 17.1 per cent, profit by 15 per cent and increased the interim dividend by 11 per cent. While all is not rosy in some of its markets, the slack has been picked up by some better performing divisions.

Aberford-based Renew Holdings has also recognised the difficulties in some of its markets and taken decisive action to play to its strengths. The specialist construction services business has changed the focus of its land remediation business away from the residential house building sector to the more robust civil engineering market. With group operating profits up 46 per cent before exceptional charges and the proposed full-year dividend up a massive 67 per cent it is another business which shows the benefit of having access to more than one market. Management is now focused on managing cash and developing the opportunities in markets less affected by the credit crunch.

Another company which realises the importance of managing cash effectively is Burley-in-Wharfedale's Findel Group. The home shopping to educational supplies business managed to generate mildly-positive sales for the six months to September 30, but importantly generated free cash to aid it in its goal of repaying £100m of debt over the next three years. Bad debts were level, which is an encouraging sign and shows the management are not just chasing business for the sake of sales.

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