Small cap round up

Shares in AIM-listed value retailer Shoe Zone rose over 15% on Monday as it reported that its full year revenue is expected to increase, while it closes loss making stores. In a trading update for the year ended 1 October, the company said it traded well in the second half of the year while it expects full year revenue of £160m, up 4% from last year, due to planned closures of loss making stores.

AIM-listed Sabien Technology Group, a manufacturer of endotherm boiler energy efficiency technologies, reported that full-year revenue fell by nearly 50% but its sales pipeline has increased due to a change in its policy. For preliminary results for the year ended 30 June, revenue fell 49% to £880,000, compared to the previous year, but the company’s sales pipeline has soared 95% to £12.2m.

Oil and gas exploration company Pantheon Resources announced the completion of drilling activities, and planned flow testing, at VOBM#3 well, Polk County, onshore East Texas on Tuesday. The AIM-traded firm, which has a 58% working interest in the well, confirmed that the operator has drilled the VOBM#3 well to a total depth of 14,500 feet and will pursue a vertical completion.

Braemer Shipping, a provider of technical expertise and professional marine and energy services, plans to restructure the business after reporting a poor performance during the first half due to harsh market conditions.The group’s revenue fell in the six months ending 31 August 2016 to £70.2m from £79.6m in 2015. Underlying operating profit also fell to £1.4m from £7.1m in 2015 after charging one-off restructuring costs of £1.8m.

Botswana Diamonds announced on Tuesday that a diamond has been found in the early stage of the re-analysis by Alrosa specialists of concentrate from large diameter drilling on kimberlite pipe AK21 on PL 260.The AIM-traded firm said it is a 1mm octahedron-shaped diamond.

Carpetright defied expectations that it would warn on profits on Tuesday, instead admitting that while gross margins will be hit by the weak pound it remains confident of hitting full year profit targets.UK like-for-like sales were down 2.9% for the 25 weeks to 22 October, with group sales falling 5.5%.