Small caps news round-up

Entu confirmed on Tuesday that its current EBITDA expectation from continuing operations and before exceptional items for the year ended 31 October is expected to be within the range previously announced, at approximately £2.6m to £2.7m. The AIM-traded company said in addition, exceptional costs relating to the planned cost-saving processes in FY 2016 were expected to be approximately £1.9m in line with management's previous expectations, and net cash at the year-end was £0.8m.

Asa Resource Group announced on Tuesday that Freda Rebecca Gold Mine, in which it holds an 85% interest, has received export incentive credits and a Top Producer award. The AIM-traded firm said the Reserve Bank of Zimbabwe introduced a 2.5% export incentive scheme to large mining exporters effective 1 May 2016, to address the challenges of low productivity and promote export earnings.

Although it lifted profit guidance for last year, TechFinancials Inc has suspended its dividend as it warned that 2017 earnings would be hit as its largest software licensee Richfield Capital plans to leave. The AIM-listed company said it now expects to exceed market expectations with revenues of at least $21m and earnings before interest, tax, depreciation and amortisation not less than $2.8m.

Shares in DX Group tanked on Tuesday as the parcel delivery company warned profit for the 2017 financial year will be “significantly” below expectations and ruled out paying dividends for the foreseeable future due to continuing “challenging” trading conditions. The company said that although its pipeline of new business opportunities is “robust”, it anticipates that profits for the year ended 30 June will be “significantly below current market forecasts”, with net debt higher than expected.

Scisys has won a €3.7m contract from Thales to help design software for the Mars rover vehicle as part of the European Space Agency's 2020 scientific mission. In its second involvement with the ExoMars programme, the AIM-listed company will work with Thales Alenia Space Italia on the design, coding and verification of the Rover mission management software instruments layer (MMS-IL) for the 2020 Mars Rover & Surface Platform mission.

Luxury interior furnishings group WalkerGreenbank posted a trading update for the year to 31 January on Tuesday, saying the results were expected to be in line with the board's expectations. The AIM-traded company confirmed they will include a first-time contribution from Clarke & Clarke, which was acquired at the end of October.