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(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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MediaZest PLC, up 6.7% at 0.040 pence, 12-month range 0.036p-0.090p. The audiovisual solutions provider reports a new business win with an unnamed international client following a "successful" initial project this year. MediaZest says the new contract is scheduled for early 2024. It adds: "MediaZest anticipates that these latter projects would be delivered by the group's European subsidiary, based in the Netherlands, which continues to add other new business projects and has performed well during its first year of trading."
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Epwin Group PLC, up 5.3% at 70.55 pence, 12-month range 63.00p-83.00p. The Solihull, England-based building products manufacturer is "on track" to meet expectations for 2023. "Trading in the second half has been resilient, despite the more variable end-market conditions widely reported across the UK construction sector in September and October 2023," it says. Epwin expects underlying operating profit ahead of the prior year and in line with market expectations of GBP24.0 million, according to company-compiled consensus. Underlying operating profit in 2022 amounted to GBP21.5 million. In addition, Epwin says it will buyback up to 3 million of its own shares. At current market prices, a buyback of that size would set Epwin back GBP2.1 million.
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AIM - LOSERS
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Frontier Developments PLC, down 19% at 159.00p, 12-month range 148.60p-1,194.00p. The Cambridge-based video games developer and publisher believes it will no longer meet market expectations for revenue, due to a "lower than expected sales performance" of the Realms of Ruin title. Frontier had been expected to generate GBP108 million worth of revenue for the year to May 31, which would have represented a roughly 3.3% rise from GBP104.6 million in financial 2023. It now expects annual revenue in the range of GBP80 million to GBP95 million, at worst, a decline of around 24% year-on-year. It adds that market expectations of an adjusted loss before interest, tax, depreciation, and amortisation of GBP9 million is achievable, if revenue hits the upper end of the new range. It suffered an adjusted Ebitda loss of GBP4.6 million in financial 2023. In addition, it said David Wilton has stepped down as chair. Non-Executive Director Ilse Howling steps up to the role of chair.
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By Eric Cunha, Alliance News news editor
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