YP75: Innovative medical company sees big increase in revenue

The banking sector started the week well following new banking rules by the Basel Committee on banking supervision, which were less harsh than the market had anticipated.

On Tuesday, Surgical Innovations reported interim results

for the six months ending June 30 2010. Surgical Innovations specialises in the design and manufacture of innovative devices for use in minimally invasive surgery and industrial markets.

Over the period, revenue increased by 79 per cent, to 3.57m, and pre-tax profit increased by 256 per cent, to 766,000, helping the share price gain over the course of the week.

Town Centre Securities, the Leeds-based property investment and development company, released final results on Tuesday. Pre-tax profit was 39.6m, which included a revaluation gain on property of 25.4m, compared with a loss in 2009 of 111.6m, which helped the shares trade more than 15 per cent higher during the day.

Just Car Clinics Group, the second largest independent chain of accident repair centres in the UK, announced a pre-tax profit of 608,000 for the six months ending June 30, which compared with 563,000 the previous year.

The company has managed to increase revenue, along with profits, and has started to expand the retail offering to its customers.

Revenue increased 17 per cent over the period, and the company believes it is well placed to make further progress

Billington Holdings, the structural steel and safety solution services company, announced a half-yearly report on what was a busy Tuesday for Yorkshire-based companies.

The company results were in line with expectations, but because of the difficult economic climate, revenue and profit were down on the previous year.

Talks about setting up a joint venture with a rival in order to win a bigger portion of business through providing steel for London tower blocks was also mentioned.

On Wednesday, Findel, the home shopping and educational supplies business, confirmed Roger Siddle would take over as director and chief executive with immediate effect.

Mr Siddle, formally chief executive of BPP Holdings, has spent the last four months advising the company on its potential and will succeed Philip Maudsley who will become managing director of the company's home shopping business.

Thursday saw an announcement from Leeds-based Getech Group regarding a new contract.

The company, which is a leading petroleum and minerals consultancy, said it had won a significant new contract which will generate gross revenue of $1.1m, with the majority of this falling in the current financial year.

Adrian Wasson, Assistant Investment Manager at Brewin Dolphin, Leeds.