Small caps news round-up
Games Workshop declared a dividend of 30p per share as it expects to beat market forecasts after it enjoyed a "significant increase" in sales and profits since the end of November. The retailer, which specialises in offering miniature war-game figurines for collecting and gaming, said it was confident of beating market expectation after finalising the product phasing for the year to end-May.
Exploration and development company Mariana Resources announced a “highly favourable” outcome for its preliminary economic assessment of the high grade Hot Maden gold-copper project in north east Turkey. The AIM-traded firm said the study was prepared in accordance with Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects by independent mining consultant firm RungePincockMinarco.
Elegant Hotels Group, the owner of six hotels and a beachfront restaurant in Barbados, reported a fall in revenue due “challenging market conditions” in the luxury hotel industry but said it remains committed to its expansion strategy. The AIM-listed company said acquisitions and management agreements on hotels in Barbados and in other parts of the Caribbean will be key to its long-term growth.
Brain health company IXICO announced on Tuesday that Giulio Cerroni will be appointed to the board as chief executive officer, with effect from 6 February. The AIM-traded firm said Derek Hill, the co-founder and current CEO, will remain on the board and continue to serve as an executive director.
Clinical-stage drug development company EvgenPharma announced the appointment of experienced healthcare executive Richard Moulson as its chief financial officer on Tuesday. The AIM-traded firm said Moulson was joining immediately as CFO-designate for a handover period to 28 February 2017, on which date the current CFO John Bradshaw will leave the company to focus on his work with a new healthcare investment vehicle.
Distil, the owner of drinks brands RedLeg spiced rum, Blackwoods gin and Jago’s cream liqueur, said earnings for last year are likely to be ahead of expectations due to a surge in sales over Christmas. Revenues for the third quarter ended 31 December 2016 jumped 71% year-on-year, while volumes climbed 56% and investment in marketing increased 88%.
Small scale gas-to-liquids company Velocys announced on Tuesday that it has signed a memorandum of understanding establishing a strategic alliance with Morimatsu Jiangsu HeavyIndustry, a subsidiary of Morimatsu IndustryCompany. The AIM-traded firm said Morimatsu will be its preferred supplier of module engineering and fabrication services for the plants.
Business to business music and radio company 7Digital met its profit target for the year, aided by a strong dollar against sterling, while it won new contracts. The AIM-listed company achieved its objective by returning an operating profit for the final quarter, as it traded in line with expectations for the year due to a modest gain from the strength of the dollar versus sterling.