Results round-up: Safestay, Cerillion, Highland Gold Mining

Luxury hostel company Safestay has narrowed its full-year pre-tax loss and seen a strong uptick in revenue.

Revenue was £7.4m, which was considerably up on the previous year's £4m thanks to demand for Safestay's contemporary hostel offer and contributions from Edinburgh and Holland Park.

"In 2016 we sold a total of 297,276 individual bed nights compared to 184,061 in 2015, an increase of 61.5%," said chairman Larry Lipman.

Safestay, he said, had expanded significantly and the systems and infrastructure to support this were in place and are capable of managing current capacity and future expansion plans.

Lipman said Safestay's recent restructuring and refinancing had transformed the financial base of the business and provided the necessary resources to support its ambitions.

Net asset value per share rose to 58p, from 48p. The company's pre-tax loss was £468,000, from a loss of £610,000.

Cerillion

Cerillion said on Monday that the first half of the year has progressed well and results are anticipated to be in line with management's expectations for a 9% jump in revenue and a 36% rise in core earnings compared to the same period a year ago.

In a trading update for the first six months to the end of March, the AIM-listed billing, charging and customer relationship management software solutions provider said it expects revenue of around £7.5m and earnings before interest, taxes, depreciation and amortisation of around £1.5m.

Chief executive officer Louis Hall said: "We are pleased with the progress Cerillion has made in the first half, which has included some important new contract wins, and look forward to providing an update on trading when we present our interim results in June."

Highland Gold Mining

Shares in Highland Gold Mining were down more than 5% as it produced a full-year net profit of $47.9m, which was a reversal of its year-earlier loss of $10m, as its production slipped and all-in sustaining costs rose.

During the year, the company produced 261,159 ounces of gold and gold equivalents, which was a little below the previous year's 262,485 ounces.

Average realised price for gold and gold equivalent in 2016 was $1,136 an ounce, from $1,062 an ounce. Group all-in sustaining costs totalled $652 an ounce, from $640 an ounce. This helped revenue rise to $305.9m, from $276.2m.

At 1135 BST, shares in AIM-quoted Highland Gold Mining were down 5.17% to 174.25p each.