YP75: September proves to be a good month for global equity markets

Global equity markets performed strongly over the month of September as highlighted by American stocks enjoying the best September since 1939.

The week started with results from WYG, a global infrastructure and advisory services specialist. The company stated that the adjusted pre-tax profit was 2m for the year ending June 30, compared with 12.1m previously. Revenue was 220.6m compared with 261.6m the year before.

Cilantro Acquisitions, a company formed at the direction of funds managed and advised by Cinven and the independent directors of Spice, said they have reached an agreement on the terms of a recommended cash acquisition by Cilantro Acquisitions, for Spice, which values the company at 251.1m.

Under the terms of the takeover, Spice shareholders will receive 70p per share in cash for every share held. It is intended that the acquisition is implemented by way of a court sanctioned scheme of arrangement.

Airea, a company which manufactures, markets, and distributes floor coverings, revealed pre-tax profit of 427,000 for the half-year ending June 30 compared with a loss of 9.07m. The company said the transformation of the product portfolio and its residential carpet business is now largely complete and the brand continues to regain its reputation for innovation and design.

Atlantic Global, a provider of integrated business and resource management software applications, announced a pre-tax profit of 21,000 for the first half of the year, compared with a loss of 148,000 in the same period last year. The company indicated that trading remains challenging as customers IT budgets remain under pressure.

On Wednesday, Proactis Holdings, a specialist spend-control software provider, reported a rise in fiscal 2010 profit and continues to see growth in its business. Revenue was 7.4m compared with 7m in 2009.

Kcom Group, a provider of a range of information technology and communications services, updated the market indicating trading was in line with expectations and net profitability at the half-year was expected to be ahead of the previous year.

Revenue for the first half of the year is likely to be lower because of the disposal of certain customer contracts to Phoenix IT and the companies exit from lower-value activities.

The company continues to strengthen the overall financial position of the group through a combination of measures including debt and working capital management along with rigorous cost control.

Datong, a designer and manufacturer of advanced high-performance intelligence gathering equipment, announced that during the last six months the company has continued its recovery in line with management expectations.

Adrian Wasson, Assistant Investment Manager at Brewin Dolphin, Leeds