Round-up: Avocet, E2V, Hasgrove

31st Jan 2011 12:57

Gold miner Avocet's gold production increased again in the quarter to December to 70,857oz at a cash cost of US$641 per ounce. Gold production for the year totalled 236,396 ounces at a cash cost of US$660 per ounce compared to 109,548 ounces at US$639 per ounce in the 12 months ended December 2009. Avocet recently agreed to sell its South East Asian assets to J&Partners, a private Cayman Islands company, for $200m cash.Hi-tech component maker E2V's trading since the half year end has been 'significantly ahead' of the comparable period in 2009/10 and ahead of expectations, reflecting increased activity and the accelerated cost reduction programme. The total order book is effectively flat at £166m. Marketing agency Hasgrove expects to report gross income in the region of £28.5m (2009: £26.8m) and an increased pre-exceptional operating profit of approximately £3.5m (2009: £2.9m). "Sales pipelines continue to be healthy and our conversion rates are good. Investment in our businesses and offerings are already starting to pay off and we are increasingly optimistic about our prospects in 2011."