Appliance-maker back in black

Universal Appliances has returned to profitability with the help of a $3.3 million exceptional gain from the disposal of subsidiaries. The company posted a net profit of $2.5 million for the six months to June, compared with a net loss of $16.3 million in the previous corresponding period. Turnover swelled to $347.3 million from $302.5 million. Earnings per share were 0.16 cent, against loss per share of 1.92 cents previously. No interim dividend will be paid.