LONDON (ShareCast) - Shares in Edenville Energy surged on Wednesday, after the coal and uranium explorer said its annual pre-tax loss narrowed.
The London-listed group reported a pre-tax loss of £2.3m in 2014, down 4.16% year-on-year, although administrative costs rose 40.1% to £895,305 and share based payments jumped to £147,977 from £39,797.

The increase in costs was offset by a 23.5% decline in impairments, which fell to £1.3m in the period, the company said in a statement on Wednesday.

Meanwhile, Edenville said it remained in discussion with a potential partner for its flagship project in Tanzania, which aims to feed a 120 megawatt plant for at least three decades, and was considering examining "all possible avenues" to deliver returns to its shareholders.

Edenville said the cost for the power plant and the Rukwa mine development was expected to be approximately $175m (£113.7m), while the site's net present value was between $220m and $322m.



Scapa Group, a manufacturer of bonding materials, posted strong full-year results helped by an investment in its healthcare business.

The group reported revenues increased by 4.4% to £236m while pre-tax profit rose 22.3% to £13.7m.

Scapa noted these results were despite a backdrop of continuing macroeconomic conditions and currency movements.

Revenues in the healthcare business grew 7.9% to £73.8m at constant exchange rates thanks to the acquisition of First Water and the launch of the Medifix wearables brand.

Industrial revenues rose 6.6% to £147.8m driven by the launch of new products during the first half of the year.

The electronics segment was hurt by difficult market conditions in Asia, but still managed to grow by 28.6%.

Showing confidence in the business, Scapa increased its dividend by 50% to 1.5p.

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