Small caps round-up

Defenx, an AIM-listed mobile security software solutions company, has more than doubled its channel partners since its initial public offering (IPO) in December last year. For the half year ended 30 June 2016, the group’s revenue rose 73% to €2.32m due to these new channel partner wins as well as new product launches. Majority of revenue, at 69%, was derived from software for mobile devices.

Gama Aviaton, an AIM-listed aviation services provider, has been able to offset weak European market conditions by diversifying around the globe. The firm, which operates across Europe, the US, the Middle East, Asia and Africa, services are split into two areas: Air and Ground. The Air operations include aircraft management, special mission and charters, while Ground services cover maintenance services, fixed base operator (FBO) operations and modification services.

Goldplat chose a corporate finance specialist as its new non-executive chairman. The South Africa and Ghana-focused gold miner said Matthew Robinson would succeed Brian Moritz, subject to shareholders´ approval at the next scheduled AGM on 27 October.

Mineral explorer Bezant Resources raised £1.189m through a share placement and subscription on AIM to fund further development at its platinum and gold mines in the Choco region in Colombia The miner raised £1.189m, before expenses, by a placement through Beaufort Securities, of 38.4m shares of 0.2p each, and a subscription for 21.05m shares of 0.2 each by new and existing investors. Both had a new share price of 2p, a 27.3% discount.

AIM listed oil and gas explorer Argos Resources’ half year losses narrowed due to a delay in a drilling programme over its part-owned licence in the Falkland Island basin. For the six months ended 30 June, losses before tax narrowed to a miniscule $4,000, compared to the previous year's $0.8m, as administrative expenses increased 57% to $300,000.

Simulation solutions company SimiGon announced its interim results for the six months to 30 June on Monday, with net profit increasing by 5% to $0.83m and profit before tax improving by 2% to $0.81m. The AIM-traded firm posted revenues of $3.29m, narrowing from $3.46m, though its gross margin improved to 78% from 75%.

Performance, knowledge and learning management systems provider NetDimensions announced its half year results to 30 June on Monday, with total revenue of $10.5m narrowing slightly from the $10.6m reported in the first half of 2015. The AIM-traded firm highlighted a 6% increase in revenue from its global hosted secure software-as-a-service offering to $5.4, however, up from $5.1m.

B2B digital music and radio services company 7digital announced on Monday that it has signed a contract with grandPad, a provider of technology solutions specifically designed for senior citizens. The AIM-traded firm said it will power a music service which comes pre-loaded onto grandPad's simple and secure tablet device designed for older seniors.

Adgorithms saw sales slump amid continued subdued conditions in the first half but it cut losses and has moved its senior team to New York as its looks to drive greater acceptance of its 'Albert' online advertising campaign management software. Since the Israeli company floated on AIM in June last year, it has faced what it said has been "a dramatic shift in the online advertising market", as a clampdown on fraudulent traffic by some of the major advertising exchanges resulted in a sharp decline in volume, which have not since recovered.