Small caps news round-up

Trading and risk management provider for metals, recycling, energy and soft commodities Brady reported a rise in revenues despite difficult market conditions. For the six months ended 30 June, revenues increased 5% to £14.8m in comparison to the same period last year, and recurring revenues increased to 60% from 55%.

Business services and systems provider Christie Group announced its interim results for the six months ended 30 June on Monday, with revenue for the first half marginally lower than prior year at £31.6m, from £31.7m. The AIM-traded firm made an operating loss of £0.9m, swinging from a £1.7m profit a year ago, with a loss per share of 4.95p per share.

Bellzone Mining announced its unaudited interim results for the six months to 30 June on Monday, with revenue remaining at zero and losses widening to $3.58m, from $3.69m a year ago. The AIM-traded firm said it was within the board-approved working capital budget by 10% at period end, and there had been no significant negative unbudgeted expenditures.

Indian wind and solar provider Mytrah Energy swung to a first half profit and said it anticipates meeting full year expectations due to growth in its operating capacity. For the six months ended 30 June, the company achieved an underlying pre-tax profit of $2.49m, up from a loss of $2.42m in the corresponding period a year ago. Revenue increased by 52% to $49.66m, supported by capacity additions during the year and better wind resources. Wind speeds were slightly ahead of expectations in first half.

Real Good Food revealed that it is planning on paying a first dividend next year and that trading at its bakery and cake decorating businesses has been satisfactory. On the day of the AIM-listed food manufacturing company's annual shareholder meeting, executive chairman Pieter Totté said as the business was cash generative and has "significant cash resources" on the balance sheet after repaying most of its debt thanks to the £44.4m sale of its Napier Brown sugar business, the primary objective is to strengthen its positions in its 'three pillars' through organic growth, targeted investment and bolt-on acquisitions.

Techfinancials reported a strong rise in revenues as the company launched its binary options joint-venture at the start of the period. The financial technology outfit reported a 34% jump in sales for the six months to 30 June to reach $9.86m, which saw profits before tax improve to $1.33m from $15,000 in the year-ago period.

UK office services provider, Restore announced its unaudited half year results for the six month period to 30 June on Monday, with adjusted revenue rising 26% to £55.4m. The AIM-traded firm said its EBITDA improved 37% year-on-year to £12.3m, with operating profit growing 36% to £10.5m.

Safestay, the 'boutique hostel' chain founded by serial entrepreneur Larry Lipman, more than doubled sales in the first half but reported a larger loss before tax. The AIM-listed company, which was created to fill a perceived gap in the market for "stylish, spotlessly clean, safe and sociable budget accommodation", generated revenues of £3.29m in the six months to 30 June from its initial locations in Edinburgh, York and London's Elephant & Castle and Holland Park, up from £1.4m last year that included only York and E&C locations.