(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.
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AIM - WINNERS
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Cornerstone FS PLC, up 67% at 12.50 pence, 12-month range 6.06p-42.10p. The cloud-based payment services provider expects revenue for the first half of 2022 to more than double, giving the group confidence in achieving significant revenue growth for the year as a whole, in line with market expectations. For the six months ended June 30, Cornerstone FS expects to report revenue of GBP1.9 million, more than doubled from GBP837,000 the same period a year prior. Looking ahead, Cornerstone FS is on-track to deliver substantial revenue growth for 2022 as a whole, in line with expectations.
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SpaceandPeople PLC, up 19% at 119.00p, 12-month range 81.25p-159.00p. The retail, promotional and brand experience specialist expects half-year revenue to more than double compared to a year ago. It forecasts revenue of around GBP2.5 million in the first half of 2022, more than double the GBP1.1 million achieved in both the first half of 2021 and 2020. "During the year to date, trading has recovered month on month and management are confident that this will continue into the traditionally busier second half of the year," the company says.
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AIM - LOSERS
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Mpac Group PLC, down 34% at 261.70p, 12-month range 245.00p-665.40p. The packaging company expects profit for 2022 to be significantly below market expectations, as a result of supply chain disruption and inflationary pressures affecting its operational efficiencies and margins. Initially, Mpac said it had made progress in the first half of 2022 despite a tough trading environment, ending the period with a strong order book. As a result, the company expects revenue to come in line with expectations, and be ahead of the same period a year prior. However, Mpac noted an increase in macroeconomic uncertainty and volatility in the global supply chain. Mpac now expects profit for 2022 to be significantly below market expectations.
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Joules Group PLC, down 19% at 26.70p, 12-month range 24.79p-275.00p. The lifestyle brand confirms it is in talks with KPMG International Ltd to shore up its balance sheet, as the retailer grapples with a cost of living crisis and inflationary pressures. The company was responding to a Sunday Times report which stated that KPMG's debt advisory arm is exploring options to solidify the retailer's cash position. Options being mulled include a capital raise, the Sunday Times reported. The Sunday Times added the Leicestershire, England-based firm is moving away from unprofitable deals and Chinese suppliers to mitigate supply chain disruptions.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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