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Pin to quick picksKibo Energy Share News (KIBO)

Share Price Information for Kibo Energy (KIBO)

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AIM WINNERS & LOSERS: CMO battles construction sector headwinds

Mon, 08th Jan 2024 10:20

(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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Celebrus Technologies PLC, up 8.6% at 233.51p, 12-month range 155p-242p. The data management platform celebrates several new contract wins in its third quarter ended December 31. The first is a three-year deal with a European retailer of experience gifts, which intends to use the Celebrus Cloud platform to "help drive better engagement with customers [and] build compliant marketing profiles about those customers". This is a new customer. The second is with an existing "global" banking customer, which has renewed its multi-million dollar annual licence for a further three years. The third is with a UK bank, which has signed on for the full Celebrus platform in a three-year multi-million dollar contract. The fourth contract is with a new customer in the US healthcare sector. Says the four contracts reinforce its confidence in meeting market expectations for financial 2024.

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AIM - LOSERS

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CMO Group PLC, down 13% at 24p, 12-month range 15.45p-29p. The online building materials retailer warns "ongoing economic challenges" to the construction sector will hamper annual results. Sales for 2023 are expected to be broadly in line with expectations at around GBP71.5 million. This represents a 14% drop from revenue of GBP83.1 million in 2022. Adjusted earnings before interest, tax, depreciation and amortisation is expected to be around GBP1.0 million for the full year, halved from GBP2.1 million. CMO attributes these results to an ongoing discretionary consumer spending lull, leading to below average order volume in late 2023. Will release annual results in early May. "With macroeconomic headwinds continuing to impact the construction sector, we proceed with caution for the outlook for full year 2024, but remain confident in our model and strategy to take the business forward, and our ability to deliver profitable progress," says CEO Dean Murray.

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Kibo Energy PLC, down 6.7% at 0.035p, 12-month range 0.04p-0.15p. Says subsidiary Mast Energy Developments PLC's partner Proventure Holdings (UK) Ltd still has not made a partial initial interim payment required under their joint venture agreement. Mast is in "advanced" discussions over an alternative source of short-term funding to ensure that any further delays regarding the joint venture agreement "will not unduly" hurt Mast's ability to meet its working capital needs. Proventure failed to transfer of the first GBP1 million payment by no later than December 29. A second payment of GBP1 million is scheduled be transferred by no later than this coming Thursday. The original deadline the interim payment of GBP2.0 million was November 10. Kibo is a Galway, Ireland-based company with energy projects in Africa and UK. It owns 48% of Mast Energy, whose shares are down 16% to 0.40p.

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By Elizabeth Winter, Alliance News deputy news editor

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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