Commodities

LONDON (ShareCast) - Image Scan (LSE: IGE.L - news) slumped Wednesday after a plunge in industrial revenue, due mainly to the weak car market, sent the X-ray imaging firm deeper into the red.

It reported a pre-tax loss of £355,000 for the six months ended 31 March, up from £136,000 a year ago. Revenue fell to £743,000 from £1.1m in 2008.

Business software firm Touchstone Group (LSE: TSE.L - news) is to seek permission from its shareholders to cancel its listing on AIM. Depending on the cash flow requirements of the business a limited share purchase offer at a set price may be made to shareholders prior to the cancellation.

The company, which issued a profits warning at the beginning of March, said it has been encouraged by a number of new contract wins in recent months and its selection as preferred supplier on several chunky projects.

Victoria Oil & Gas has raised £5.3m from a placing at 3p a share and increased its Standby Equity Distribution Agreement, announced in April, from £5m to £10m.

The group said it now has sufficient funds to drill the first well and generate first production at the its Logbaba project in Cameroon.

Internet telephony specialist Vyke Communications has released its Vyke Mobile application for mobile voice over internet protocol (VOIP).

The service has been in development since 2008 and enables mobile phone users to send free Vyke to Vyke calls and texts, while outbound texts and messages to non-Vyke customers are sent at cheap rates via WiFi.

Air conditioning and pump hire group Andrews Sykes (LSE: ASY.L - news) reported a 22% increase in full-year operating profit to £17.9m and said it is well placed to take advantage of any upturns in the market.

"The board believes that 2009 will be a difficult year as the worldwide economic downturn continues to depress the markets within which the group operates," said the group.

"However, the group is financially strong, it is continuing to generate both good levels of profits and positive cash flows and therefore it will be well placed to take advantage of any upturns in the market, whenever that might be."

Carpet and floor coverings maker Victoria reported a 58.3% drop in full-year pre-tax profit to £1.46m and cut its dividend to 8p from 14p last time.

Engineering (Milan: ENG.MI - news) firm MS International (LSE: 396990.L - news) saw pre-tax profit fall to £4.9m from £5.29m before on revenue that fell to £51.56m from £53.86m.

Mobile antennas maker Sarantel said mobile phone maker Sonim Technologies has selected Sarantel's LBS Pro miniature GPS antenna for the new Sonim XP3 Quest mobile phone.

Shares in 4imprint dropped after the printed products group said it expects results for the first half of 2009 to be below the prior year.

Business services supplier Christie said it is mindful of ongoing market uncertainty and has therefore further reduced the group's cost base for the second half.

Energy Asset Management (LSE: EAM.L - news) said it noted the movement in its share price and speculation that it has been awarded a contract. "EAM would like to take this opportunity to remind shareholders that the Company is classified as an investing company under the AIM Rules as announced on 9 January 2009. As such, it is not a trading company and is not in a position to be awarded contracts of any kind," said the group.

Havelock said first half of the year is proving to be challenging with group revenues continuing to run below the levels of the same period last year.