YP75: Datong sees strong recovery in revenues as US market revives

A quiet week for Yorkshire companies meant Tuesday

was the first day of the week for any statements with Leeds-based Datong Plc, a provider of covert intelligence gathering solutions releasing final

results.

The company saw a strong recovery in financial performance with encouraging signs of a recovery in the US market. Revenue increased 80 per cent to 14.06m but the board did not recommend the payment of a dividend.

Preliminary results were out the same day for Sheffield- based Pressure Technologies Plc the holding company for Chesterfield Special Cylinders and Chesterfield BioGas.

The company reported a drop in fiscal 2010 profit and

said the global economic downturn had impacted sales and profit.

Pre-tax profit for the full year ending October 2 was 3.5m compared to 5.1m the previous year however the final dividend was 4.8p per share giving a

total of 7.2p per share over the year an increase from the previous total dividend which was 6.6p.

The company said the balance sheet remains strong and the activity in Engineered Products Division is expected to continue growing strongly.

On Wednesday ATH Resources the coal producer announced preliminary results which showed a drop in 2010 fiscal profit, but the company indicated it is well positioned to deliver increasing returns to shareholders as the impact of its legacy contracts reduces significantly during 2012.

Sales increased to 78.3m compared to 77.5m the previous year with net borrowings being reduced by 4.9m to 34.5m.

The company also reported a record level of proved reserves

at 6.1 million tonnes representing an increase of 1.4 million tonnes.

Tadcaster-based Sky High Plc the data collection and analysis group released a half yearly report on Wednesday in which the company reported it had swung to a half-year loss in what it called a difficult period driven by market uncertainty but said recent trading shows an improvement.

Pre-tax loss for the six months ending September 30 was 299,000 compared to a 2009 profit of 113,000.

Trading since the half year end has improved and results

for these two months have shown a profit leading the directors to be optimistic that results in the second half of the year will show an improved performance compared to that from the

first six months of the financial year.

Adrian Wasson Chartered MCSI Assistant Investment Manager