Small cap news round-up
BATM Advanced Communications, a provider of real-time technologies for networking solutions and medical laboratory systems, has managed to sustain its performance in the second half due to the success of its Diagnostic Unit and the recovery of its Networking and Cyber division.
Gross margin improved by 32.8% in the first half but the group’s revenue decreased by $2.5m to $45.1m. The group recorded an operating loss of $0.6 meanwhile net loss reduced to $1.5m compared to $2m last year.
Engineering company Pressure Technologies said there will be a loss in its full year results, against market expectations, due to delays and legacy costs to upcoming projects.
Trading in Pressure Technologies' three manufacturing divisions, cylinders, precision machined components and engineered products have been in line with market expectations and the company said, despite the ongoing challenges of the oil and gas market, there had been some positive developments during the year.
UK, Ireland and Canada zinc and lead explorer Minco said it made a first half loss of $0.51m compared with a profit of $79,000 for the same period ended June 30, 2015.
The AIM-listed firm said the loss included a foreign exchange loss of $98,000 compared to a gain of $0.55m.
Challenger Acquisitions, the company that brought you the London Eye, continued to make headway in rolling-out its giant observations wheels worldwide, despite setbacks in Indonesia.
Thus far, 2016 had been an active yet challenging year for the company, with positive board appointments, capital raises, plans for a new manufacturing facility in the Netherlands and development of potential projects for the firm’s newly acquired Starneth Group, together with delays in the construction of the Giant Observation Wheel (GOW) in Jakarta, the company said in a statement.
AIM-listed security and facilities management company Mortice said full year pre-tax profits fell to $1.6m from $2.2m reflecting the impact of one-off acquisition costs totalling $0.75m.
Revenues rose to $133.5m from $88.4m as the firm added 300 clients and took over UK-based property service company O&G for up to £6.3m in cash and shares. It also took a 51% stake in Frontline, a company incorporated in Singapore for a maximum £1.89m in cash.
Iron ore explorer Beowulf Mining reported a half year loss due to an acquisition but benefited from the weak pound.
For the six months ended 30 June loss after tax was £333,052, in line with the same period last year. In the second quarter a loss of £166,000 after tax was also in line with the loss in the first quarter of the year.
AIM-listed Satellite Solutions reported a rise in first-half turnover as its customer base surged following a series of acquisitions.
In its unaudited interim results for the six months to the end of May, the company said turnover rose 78% to £5.7m from £3.2m in the first half of last year, while like-for-like organic recurring revenue was up 17% to £2.7m.
Shares in Dewhurst soared as the independent supplier of lift, keypad and transport components said the slump in the pound after June's Brexit vote would help it to post “significantly” higher-than-expected full year profits.
“A significant proportion of the company's sales and earnings are generated in foreign currencies. With the fall in the pound these sales and earnings are worth more to us,” Dewhurst said in a trading update.