Small cap round up
Zoo Digital, a provider of subtitling and digital distribution services, expects to see a “significant improvement" for the 2017 financial year, as the company’s performance in the first half has continued into the second. The AIM-listed company said that the historical weighting towards the first half, due to its reliance on a small number of customers and the seasonality of the home entertainment market, had seen a shift with good momentum continuing into the second half, meaning it was showing less seasonal variation in revenue and earnings than in previous years.
Energy storage and clean fuel company ITMPower announced its interim results for the six-month period to 31 October on Thursday.The AIM-traded firm reported total revenue and grant funding of £2.97m, down 14%, which the board said reflected the early stages of build projects during which there was relatively little revenue recognition.
AIM-listed Australian gold miner Keras Resources has raised £600,000 in equity to support ongoing exploration work and to support plans to float on the Australian Stock Exchange. The miner placed 171.4m shares, representing about 10.6% of its issued share capital, at a price of 0.35p with new and existing investors.
Frontier Smart Technologies, which makes products for digital radio and smart audio devices, anticipates that earnings for 2016 will swing to a profit and will be ahead of expectations following increased revenue and the sale of its loss-making healthcare division. Revenue is expected to be about £32m for calendar year 2016 and underlying earnings before interest, tax, depreciation and amortisation (EBITDA) is anticipated to be about £700,000, compared to the £800,000 loss experienced in 2015, which is ahead of market expectations.
Shares fell in Emis Group as the healthcare software firm reported that its performance was in line with expectations despite headwinds created by the gap in NHS funding, as the company accelerates it implementation plan. Due to pending changes in NHS models of care, Emis Group decided to accelerate its internal integration in 2017, to bring together its primary, community and secondary care businesses under common leadership.
Specialist distributor Connect Group issued a trading update for the 20 week period to 21 January on Thursday, with total group revenues increasing 0.2% compared to the same period last year, whilst total group like-for-like revenues increased 0.6%.The London-listed company said the Connect News & Media division saw news total revenues decrease by 2.6%, and like-for-like revenues decrease by 2.3%.