Small caps news round-up

4D pharma brought some good news and some bad news to the market on Friday, over its trials of irritable bowel syndrome (IBS) treatment Blautix, and it paediatric Crohn's disease treatment Thetanix. The AIM-traded pharmaceutical company, with a focus on the development of live biotherapeutics, said recruitment for the Blautic phase one trial had now been completed.

Brits going bananas for imported fruit made for a good year at Fyffes in its annual report on Friday, but investors weren't sharing the sentiment. The AIM-traded company saw EBITDA increase 16.4% to €56.1m (£44.2m) in the 2015 calendar year, and reported earnings per share growth of 14% to 12.73 euro cents. EBITA was up 14.2% to €45.8m.

Flooring specialist Airea reported tough trading in its interim results on Friday, though it did manage to keep its earnings intact. The AIM-traded company reported revenue of £12.7m for the period, down from 2014's restated figure of £13.4m.

Mediterranean-focused upstream gas company Sound Energy announced its National 110 UE traditional rig was on the move on Friday, ahead of the upcoming first well at its Tendrara licence area, onshore Morocco. The AIM-traded company said the rig had been mobilised from Mauritiana, and was expected to arrive on site in early March.

Connemara Mining began drilling with earnest on its gold licences at Inishowen, County Donegal in Ireland on Friday, with the company announcing the start of a preliminary drilling programme. The drilling programme was following on from trenching at the end of 2015, which returned positive results including 0.8 metres at 7.95 grams of gold per tonne, and 1.1 metres at 1.78 grams of gold per tonne.

Snoozebox Holdings' non-executive chairman David Morrison has resigned from the company’s board, while Chris Errington, currently a non-executive Director, has taken up his position.

Next Fifteen Communications completed a number of earnings-enhancing transactions on Friday, acquiring the remaining 25% minority interest in its research and advisory agency Morar Consulting, and settling in full the remaining obligation for the original purchase of 75% of Morar made on 3 December 2014. The company said Morar's remaining obligation in respect of the acquisition of its subsidiary made on 23 April 2015 was also settled in full.

Milestone Group reported on another year of financial losses, but operational wins on Friday, with the company expanding the reach of a number of its products in the 12 months to 30 September.The AIM-traded firm saw revenue rise to £318,035 during the year, from £157,377 in 2014. Its cost of sales was down too, to £140,214, from £247,087, making for a gross profit of £177,821, compared with a loss of £89,710 a year earlier. Milestone's administrative expenses were more than last year's, however, totalling £1.57m, up from £1.43m. Overall, the company made a net loss for the year of £1.4m, larger than 2014's £1.07m.