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(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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tinyBuild Inc, up 9.9% at 50.00 pence, 12-month range 44.95p-195p. The indie games publisher says 2022 pretax profit was USD15.9 million, up 27% from USD12.5 million in 2021, with revenue increasing 21% to GBP63.3 million from GBP52.2 million. Looking ahead, tinyBuild says its pipeline for 2023 and beyond is strong, including a number of larger budget games alongside continued investment in the catalogue, including updates, downloadable content and console launches. It adds the board remains confident it is on track to deliver results at least in line with expectations, plus accretive acquisitions.
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Strix Group PLC, up 7.4% at 94.7p, 12-month range 74.7p-243p. Shares in the maker of kettle safety controls rise despite a weaker financial performance in 2022, with revenue falling 11% to GBP106.9 million and pretax profit dropping 31% to GBP22.2 million. However, Strix notes "green shoots" are appearing in recent sales data. Notes Chinese economy is likely to rebound, and online kettle sales were 17% ahead of the prior year's levels in January, according to a major retailer.
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AIM - LOSERS
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Versarien PLC, down 26% at 2.3p, 12-month range 2.12p-25.81p. After the sudden resignation of CEO Neill Ricketts sent its shares plunging earlier this month, the engineering materials company reveals it is likely to need further funding, and is reviewing all appropriate options. "At this time it is not possible to be more specific on the type of funding that may be secured," it says. "This comes despite "significant cost reductions", Versarien says, including reducing headcount and discretionary spending. The non-executive directors have waived remuneration indefinitely, with executive directors' pay also under review. "Whilst we remain confident of the commercial benefits of our graphene technology and that it can bring significant returns to Versarien, the company continues to face a number of challenges that the board is working hard to overcome," it says.
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By Elizabeth Winter, Alliance News senior markets reporter
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