Small caps round-up
Cambria Africa announced a further improvement in its operating results for the year to 31 August on Tuesday, with its Payserv division achieving $5.4m in revenues, an increase of 7.8% year-on-year. Payserv's consolidated EBITDA for the year increased by 44.7% to $1.78m, while profit before tax increased by 85.7% to $1.43m.
Alexander Mining posted a progress report on its leaching technologies licence agreement in Australia with Accudo Metals on Tuesday. The AIM-traded firm had first announced the partnership on 25 August.
Digital advertising company Matomy Media Group announced on Tuesday that it has engaged RBC Capital Markets as its financial advisor to lead a review of strategic alternatives. The AIM-traded firm said the appointment forms part of a process initiated by the board in June, and the intention is that all opportunities for maximising shareholder value will be considered.
Dotdigital Group, the AIM listed provider of intuitive software as a service (SaaS) and managed services to digital marketing professionals, reported a rise in revenues across its global operations. Group turnover increased 26% to £26.9m and earnings before interest tax depreciation and amortisation (EBITDA) rose 17% to £8m. Recurring revenues were at 78% compared to 76% in 2015.
Shares in AIM-listed miner Botswana Diamonds fell more than 12% on Tuesday, as the company announced that drilling has started on the kimberlite pipe. The miner has started to drill on the the kimberlite pipe AK22 on its PL260 licence in the Orpa area of Botswana, part of a joint venture with Alrosa, a diamond producer.
AIM-listed energy consultancy Utilitywise hiked its dividend 30% and hired two new directors after an encouraging year in which revenue grew strongly and new partnerships raised expectations. Revenue increased 22% for the year ended 31 July, to £84.4m, compared to the previous year which resulted in a 7% rise in pre-tax profit to £17.7m and diluted earnings per share edging 3% higher to 18.5p.
Solo Oil said advancing the Ntorya-2 appraisal well in Tanzania and its commercialisation are key objectives for the company, having confirmed site preparations are complete. It said mobilisation of the Caroil #2 rig from the Ntorya-1 wellsite was underway, and estimated Ntorya-2 would be spudded in December.
AIM-listed K3 Business Technology appointed Robert Price as its new chief financial officer on Tuesday, the latest in a number of senior management changes. He replaced Brian Davis who had been with the company for nine years in a number of financial roles.