YP75: Animalcare reports net loss after disposal of livestock arm

A number of trading updates from local companies led to a busy week for the YP75. Meanwhile, the wider FTSE 100 index ended 1.1 per cent higher as the Bank of England maintained the base rate at 0.5 per cent for the 20th month in succession.

The week started with final results from Animalcare, the Ripon-based pets and livestock products company, which swung to a net loss for its fiscal year following write-downs to its livestock business which has now been disposed of.

The company said it expects earnings to increase in the coming years now that it is a more focused company and the group will launch four new products this year. Animalcare reported a net loss of 1.03m for the year to June 30, compared with a profit of 1.04m last year.

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A busy start to the week also saw Carclo Group, the suppliers of technical plastic components, announce trading was in line with the expectations for the full year. The board said that the financial position of the company was strong and that it remained confident of the full year outlook.

Doncaster-based Clyde Process Solutions announced a 1.1m contract awarded through its subsidiary, MAC Equipment. The contract was from an Asian affiliate of an existing North American-based worldwide confectionery company.

Clyde Process Solutions will provide the customer with a pneumatic conveying system as part of the expansion at a large production facility in China.

Town Centre Securities, the Leeds-based property investment and development company, agreed to lease 55,000 square foot of its Urban Exchange property, in Piccadilly Basin, Manchester.

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Go Outdoors, an independent retailer of outdoor products, will lease the property, which means that 60 per cent of the total retail area of Urban Exchange is now let with just two remaining units on the ground floor. The company's portfolio voids are now below 5 per cent, down from 6.8 per cent as at June 30, helped by a 10-year unit lease in Edinburgh to Amplifon.

Cranswick, the fresh and processed meat producer, said that turnover for the half-year ending September 30 rose 8 per cent and operating margin is in line with management expectations. Cranswick added that net debt was substantially lower than that of a year ago and below the 54m reported at the previous quarter end.

Northern Foods, the Leeds-based food producer famous for such brands as Goodfella's Pizza and Fox's Biscuits, issued an interim management statement. The company sees trading in line with expectations and added that it had formed a new organisational structure in order to streamline the group through two divisions – Branded and Chilled.

It said it was in a strong financial position with net debt expected to be at a similar level to the prior half-year, at 220m.

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Dart Group, the aviation and distribution company said the overall group's pre-tax profit for the first half will be ahead of the same period last year.

Adrian Wasson, Assistant Investment Manager at Brewin Dolphin, Leeds

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