Small caps news round-up
Fabrics and haberdashery wholesaler Leeds Group’s interim revenue rose as it experienced a “material effect” from the recent tumble in the value of sterling, as it remains "cautiously optimistic" about the future. Revenue climbed 13.9% to £21.05m for the six months ended 30 November 2016 compared to last year, which resulted in a 22.5% rise in profit after tax of £848,000. Earnings per share increased to 3.1p from 2.5p.
Enterprise productivity software company BOS Global Holdings updated the market on the sale of Hostisme Intellectual Property on Thursday.The AIM-traded firm said it completed the IP assignment of its Hostisme hospitality software prototype - which is non-core to the company's activities - on 30 December.
Intercede Group announced on Thursday that a large US Federal Government order, which was deferred from the first half, had now been received and invoiced on 30-day payment terms. The AIM-traded firm said the order totals $3.0m of software licenses and annual support and maintenance, more than $2.2m of which will be recognised in the current financial year.
AIM-listed pottery manufacturer Churchill China anticipates that its operating performance will be ahead of market estimates due to its “strong” exports. The Stock-on-Trent based company expects that its operating performance for the year ended to 31 December 2016 will be ahead of current market estimates, and well ahead of its performance in 2015.
Science in Sport’s sales surged, largely coming from its website, while the sports nutrition company focused on developing international markets. The AIM-listed company said it remains “confident of continued strong growth in 2017 and beyond”.
In a bid to stabilise Fastjet and reach cash flow break even, chief executive Nico Bezuidenhout aims to increase equity by at least $48m with Solenta, an African commercial aviation firm, injecting $19m into the Africa-focused budget airline and through a share placing. Solenta will become a 28% shareholder of the AIM-listed airline and appoint two directors to the board as it invests $19.2m, which would see it operate three wet-leased aircrafts and provide aircraft, crew, maintenance and insurance (ACMI), and supply other services over the next five years.
Titanium and ilmenite explorer FinnAust Mining has bought Avannaa Exploration, after gaining approval from the Greenland government, and has won a new licence, which “strengthens” its footprint within country. FinnAust bought Avannaa from Capricorn Oil, a subsidiary of Cairn energy, for £500,000, which was paid for by the issue of 7.58m shares of 0.01p each sold at 6.59p. The shares are expected to trade on AIM on 11 January withe company’s share capital now consisting of 614.16m shares.