Small cap round up
Online fashion retailer Boohoo.com lifted its guidance for annual revenue growth following strong trading through Black Friday and into the Christmas season.The company, whose acquisition of PrettyLittleThing completed earlier this month, now expects between 43% and 45% revenue growth in the year to 28 February 2017, up from previous guidance of 38% to 42%.
Majestic Wine’s retail business had its biggest Christmas ever with sales up 7.5% as overall revenue grew. For the 10-week Christmas period ending 2 January revenue climbed 15.3% compared to the prior year, while on an underlying basis it increased 12.4%. Christmas delivers about 30% of the company’s sales for the year.
Shares in K3 Business Technology plummeted as the software provider warned that earnings for the year will be less than expected due to a “softening in market conditions”. Earnings before interest, tax, depreciation and amortisation (EBITDA) for the year will be £3.5m less than initially anticipated.
Rapid diagnostic test manufacturer Akers Biosciences said it plans to issue $2m of new shares plus warrants over another $1m worth of shares.The AIM- and Nasdaq-listed outfit said funds will be used for working capital as well as to accelerate growth in the US and in international markets, further develop new customers and launch new diagnostic products.
Somero updated the market on its trading for the financial year to 31 December on Tuesday, saying that in the six months since its first half update, the company continued to deliver profitable growth and cash generation. The AIM-traded firm said that due to a strong finish to 2016 combined with continued margin improvement, the board now expected to report revenue slightly ahead of current market expectations and to report EBITDA comfortably ahead of current market expectations for the full year.
Futura Medical, an AIM listed innovative healthcare company focused on transdermal technology, has signed a licensing agreement with Thornton & Ross for the commercialisation of TPR100, the company’s novel diclofenac gel for pain relief.Thornton & Ross (T&R) is one of the largest consumer health companies in the UK and was acquired by STADA Arzneimittel AG (STADA), the international healthcare group, three years ago.