Small caps news round-up

Wireless remote tracking and monitoring products company Starcom launched a new security tech product on Thursday - Watchlock Pro. The AIM-traded company said Watchlock Pro is a more advanced version of the Watchlock - a reporting padlock that provides real-time alerts, and was awarded Physical Security Product of the Year Award at IFSEC 2012.

Escher Group Holdings said it has improved its existing mobile-loyalty solution for Irish independent chain Insomnia Coffee with a new frictionless prepay function.

Secure Property Development and Investment reported preliminary figures from its annual results on Thursday, including an 88% increase in total asset value to €126m, from €67m. The AIM-traded southeastern Europe-focused property and investment company said this reflects the acquisition of prime real estate with blue chip tenants in the region.

SKIL Ports & Logistics' shares are down more than 10% as its full year pre-tax profit docked in at £138,000, well down from the prior-same-period's £729,000 profit. Revenue was nil, and the company booked an operating loss of £2.2m, from a loss of £1.9m, both of which were more than offset by finance income of £2.4m, from £2.7m.

Shares in Pennant International are up almost 6% after it won a second contract from Lockheed Martin Mission Systems Corp, and issued a very upbeat trading statement for 2016 and 2017. The latest contract and phasing of others meant Pennan't order book stood at more than £45m, with delivery scheduled as to £17m in 2016, £18m in 2017 and £10m in 2018.

Healthcare services provider Totally has acquired About Health Ltd for up to £7.7m, at the same time booking a full year pre-tax loss of £0.41m, from a loss of £0.44m. The company, whose revenue fell to £0.58m, from £0.61m, said the deal would be earnings enhancing with both revenue and profit growth potential.

Falcon Acquisitions, an investment company, raised £163,000 after placing shares on the London Stock Exchange (LSE), it reported on Thursday. The company placed 815,000 ordinary shares at a price of 20p per share.

Wizz Air's second most senior management executive, executive vice president John Stephenson, has resigned from the ultra-low cost airline despite the seemingly encouraging conditions for the company. Stephenson, who joined Wizz in 2006 as chief commercial officer after almost a decade at easyJet, will step down with effect from 24 August.

Full year revenue rose at Redcentric, an IT service provider, boosted by organic growth and two acquisitions. Revenue increased 16% to £109.5m in the year to 31 March 2016, representing 8% organic growth. Recurring revenue grew 17% to £90.2m including 11% organic growth. Recurring revenue represented 82% of the total.

Online estate agency Purplebricks reported a surge in full-year revenues but losses widened significantly as sales and marketing costs swelled. In the 12 months ended 30 April, revenues jumped 448% to £18.6m. However, the adjusted loss before interest and tax widened to £10.5m from £5.4m in 2015, with sales and marketing costs up to £12.9m from £3.5m as Purplebricks continued to grow its brand.