Company News in Brief

Abbot Holdings yesterday lauched a pounds 7.6m takeover offer for Blystad Group, the drilling contractor. The three Blystad brothers, who control 65 per cent of the company, have agreed to accept the terms, but the target's independent directors are resisting the bid. They say the offer is 'entirely inadequate'.

Elys (Wimbledon), the department store operator, reported a fall in pre-tax profits from pounds 203,000 to pounds 121,000 in the six months to July on steady sales of pounds 5.7m. The interim dividend is maintained at 1.5p.

Thomas Walker, maker of metal items for the clothing industry, incurred pounds 99,000 pre-tax loss (profit pounds 56,000) in the year to 30 June. The final dividend is 0.4p, making 0.58p, down from 0.88p previously.

Swallowfield, manufacturer of aerosol products for retail suppliers, almost halved pre-tax profits from pounds 804,000 to pounds 421,000 in the half year to 30 June. The interim dividend is held at 2.2p.

Berry Starquest, the investment trust, saw net asset value fall to 157.1p (177.5p) in 26 weeks to July.