(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.
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AIM - WINNERS
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LoopUp Group PLC, shares more than double to 15.24 pence from previous close of 7.00p, 12-month range 5.22p-80.00p. The software provider for remote meetings wins two-year contract with Spain's Telefonica SA with minimum value of EUR200,000 and potential for expansion and extension. Adds that it is on track to meet its full-year target of securing 50 additional contract wins in the 2022 financial year.
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1Spatial PLC, up 13% at 44.00p, 12-month change 34.10p-54.90p. The IT service management company reports revenue of GBP27.0 million in financial year ended January 27, up 10% on the year before. Swings to pretax profit of GBP220,000 from loss of GBP1.4 million. Says trading in new financial year has started well and in line with board expectations. "While cognisant of inflationary cost pressures, the board remains confident in delivering results for FY 2023 in line with current expectations," it says.
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City Pub Group PLC, up 9.5% at 81.89p, 12-month change 74.80p-139.95p. The pub operator's pretax loss for 2021 slims to GBP3.1 million from GBP7.6 million. "Encouragingly, trading for the last 8 weeks of 2022 is at around 98% of 2019. We are now confident that 2022 trading across the portfolio will exceed 2019 by the end of the second quarter," it says.
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AIM - LOSERS
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Empyrean Energy PLC, down 75% at 2.17p, 12-month range 1.55p-13.00p. Says the Jade prospect at its 100% owned Block 29/11 permit, offshore China, reached final total depth but logging indicated no oil pay in the target reservoir. "We are extremely disappointed with the results of the well, particularly after conducting a systematic and comprehensive technical analysis followed by running a safe drilling operation," says Chief Executive Tom Kelly.
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Kropz PLC, down 26% at 8.50p, 12-month 3.50p-15.00p. The African phosphate developer reports slower than expected progress in the ramp up of operations at Kropz Elandsfontein (Pty) Ltd, which means production of sufficient phosphate rock concentrate for the first bulk sale will be achieved later in second quarter than planned. This delay will result in a funding requirement of ZAR58 million at the end of April. In order to cover part of this, Kropz will draw down remaining ZAR33 million of a ZAR200 million conditional convertible equity facility and has agreed further ZAR25 million bridge loan facility with ARC Fund. "Due to the anticipated delay in production ramp-up, Kropz is exploring further funding options with ARC to fund any additional working capital requirements for Elandsfontein through to positive cash flow," it says.
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GYG PLC, down 19% at 34.50p, 12-month range 28.11p-89.00p. Revenue for 2021 rises to EUR62.8 million from EUR58.9 million in 2020, but the super-yacht painting, service and supply company swings to pretax loss of EUR7.2 million from profit of EUR183,000. "Whilst the group's revenue performance was robust, 2021 results were the consequence of two sequential years of significant global challenges for the business as the continuing impact of Covid related logistics and costs, and the unexpected Nobiskrug shipyard insolvency, impacted profitability," it says.
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By Lucy Heming; lucyheming@alliancenews.com
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