Croatian electrical firm Koncar has reported a net profit of 26·3m kuna on income of 1·39bn kuna for the first half of the year. Orders from Zagreb Electric Tramway accounted for 29% of the company's domestic sales.

A management buyout has been completed at Mechan, the Sheffield-based manufacturer of specialist rail and industrial lifting equipment. Founder Tony Hague retains a minority holding and the role of Chairman. The value of the transaction was not disclosed.