London pre-open: Shares to win back some losses

30th Nov 2010 07:34

Footsie is expected to recover some of yesterday's losses in early dealings.In company news, Birmingham City Council has extended and expanded its existing contract with outsourcing titan Capita in a deal worth about £300m to Capita. The original contract to provide ICT (information and communication technology) and contact centre services has been extended by five years to March 2021. Additionally, Service Birmingham, the joint venture between the council and Capita, will deliver the Council's revenues service for a period of 10 years from 1 April 2011.An increase in net new business helped fund manager Aberdeen Asset chalk up a meaty profit rise last year as it took 'full advantage' of the stock market revival. Underlying profits in the year to September rose to £210 from £85.1m, on revenues of £639m against £422m. Pre-tax profits were £125.6m against £10.1m. Funds under management rose to £178.7bn (2009: £146.2bn), after net inflows of £2.6bn over the year compared with a £10.7bn outflow last time. Gross new funds were £46.6bn, up from £19.1bn.Tile and flooring specialist Topps Tiles posted higher profits in the year to October 2 as sales recovered and said it is confident in spite of subdued consumer confidence. Pre-tax profits at Topps, which has 312 stores, climbed to £12.4m from £9.9m as total revenue increased to £182.4m from £178.8m. On a like-for-like basis, sales increased by 1.7%, against a 13.1% fall the previous year. The company is paying a final dividend of 1p, having held back on a payout the previous year.Sensor technology group Halma saw increased revenue and profit in all three of its divisions in the 26 weeks to 2 October. Group revenue rose 12% to £249.1m from £222.1m at the interim stage last year. Organic revenue growth on a constant currency basis was 10%. Adjusted profit before taxation, which excludes the amortisation of acquired intangible assets and the associated tax, climbed 29% to £49.3m from £38.1m a year earlier. Reported profit before tax rose 34% to £47.3m to £35.4m in 2009.