Small caps news round-up

Butcher's chain Crawshaw Group warned that trading conditions have remained difficult in recent weeks and that hitting full year targets will depend on measures it has taken to try and restore sales momentum ahead of the very important winter and festive season. The lower customer volumes seen earlier in the year, due to "a combination of the international football, adverse weather and Brexit" had continued since its initial warning in late June, the Midlands and north of England group said, which would see a "further reduction in like for like sales for the half year".

South America-focused oil and gas producer and explorer Amerisur Resources announced its interim results for the six months to 30 June on Thursday, with revenue of $24.4m down significantly from $40.3m in the first half of the prior year. The AIM-traded firm reported operating cash burn for the period of $0.4m, against cash flow of $8.1m a year ago, though it did see its non-cash amortisation charge reduced to $4.4m as a result of a technical increase in reserves.

Multi-brand international franchisor Franchise Brands announced its maiden interim results for the six months to 30 June on Thursday, in line with management expectations. The AIM-traded firm’s total revenue was up 10% to £2.5m, and its gross profit margin increased by 1.2% to 66.8%.

Tribal Group published its half-year report for the six months to 30 June on Thursday, with revenue dropping 22% to £45.2m. The AIM-traded firm said its adjusted operating profit was £0.5m for the period, down 81% year-on-year, though its statutory loss after tax improved 59% to £2.6m, from £6.4m.

IndigoVision Group posted its interim results for the six months to 30 June on Thursday, with overall revenue dropping slightly to $21.8m, from $22.6m. The AIM-traded firm reported camera volumes were 20% ahead, and its gross margin was maintained despite downward pricing pressure.

Chemical drug discovery company Cronin Group’s half year losses narrowed as it aims to digitise chemistry for manufacturing and algorithm-driven discovery. For the six months ended 30 June, the company’s losses narrowed by about 28% to £310,000, compared to the same period last year, which included a loss of £380,000 from discontinued operations, which reflected research and development costs.

Hybrid estate agency Purplebricks Group issued a trading update for the 19 week period to 14 September on Thursday, as investors gathered for the company’s annual general meeting. The AIM-traded firm said trading since the start of the new financial year on 1 May has been very encouraging, with little discernible impact following the EU referendum on 23 June.