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(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.
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AIM - WINNERS
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Allergy Therapeutics PLC, up 4.4% at 17.75 pence, 12-month range 15.25p-38.50p. The biotechnology firm says it will resume production at Freeman facility in Worthing, England on November 14. This follows a short-term voluntary pause as it reviewed its operating processes. It does, however, warn revenue will be around 13% to 18% lower than market expectations of around GBP80 million, for the current financial year ending on June 30, as the pause occurred during a period of peak production. This suggests revenue of about GBP66 million to GBP70 million in financial 2023. Partially compensating, business expenses were reduced by GBP3 million by the shutdown.
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Directa Plus, up 2.3% at 90.00 pence, 12-month range 74.00p-178.00p. The graphene product maker signs an exclusive supply agreement in Latin America, worth around EUR1 million. The agreement with Colombian ballistic protection clothing manufacturer CIA Miguel Caballero SAS runs for at least four years.
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AIM - LOSERS
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Likewise Group PLC, down 18% at 14.90p, 12-month range 13.25p-52.80p. The floor coverings distributor says adjusted pretax profit in 2022 is likely to remain "broadly in line" with that of 2021, when Likewise posted an adjusted pretax profit of GBP1.6 million. Its bottom line has been held back by a high level of investment, as well as poor market conditions that are driving up inflationary pressures.
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Greatland Gold PLC, down 5.8% at 8.15p, 12-month range 7.00p-18.40p. The mining development and exploration company reports a "landmark year" but notes its loss widens on rising costs. In the financial year to June 30, Greatland's pretax loss doubles to GBP11.4 million from GBP5.5 million.
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IGas Energy PLC, down 0.5% at 27.57p, 12-month range 12.60p-112.00p. IGas says it is "shocked and disappointed" by the UK government's Wednesday decision to declare another moratorium on fracking in England. "Literally a few weeks ago this government lifted the moratorium paving the way for the timely development of shale in the UK providing jobs, tax revenue, energy security and significant community benefits in the middle of an energy crisis - all totally compatible with net zero," IGas says. IGas contends it has significant recoverable gas resource in the Gainsborough Trough in the East Midlands. It warns it may pursue legal action in light of losses it has incurred. Shares are down 30% since Tuesday's close, though they remain up 79% over the past 12 months.
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By Eric Cunha; ericcunha@alliancenews.com
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