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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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Frontier Developments PLC, up 17% at 138.24 pence, 12-month range 95.00p-649.00p. The video games developer and publisher reports its interim results for the six months ended November 30. Revenue falls to GBP47.7 million from GBP57.1 million a year earlier. Swings to pretax loss of GBP33.1 million, versus a profit of GBP6.7 million. Looking ahead, Frontier says total sales during the important trading period of late November to early January were in-line with expectations. It continues to expects full year revenue to be in line with guidance of GBP80 million to GBP95 million. "2023 was a challenging year for Frontier and for many companies across the games industry. The last few months have been a tough period of change for everyone at Frontier, and of course it's been particularly difficult for those people in teams who have suffered redundancies," says Chief Executive Jonny Watts.
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AIM - LOSERS
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James Cropper PLC, down 33% to 535.00p, 12-month range 521.50p-960.00p. James Cropper says it expects profit for financial 2024 to fall short of expectations after facing delays in the final months of the year, and eyes a lower revenue. The paper, packaging and advanced materials' manufacturer's financial year ends April 1. James Cropper expects adjusted pretax profit to be "materially below" expectations. In financial 2023, adjusted pretax profit was GBP3.2 million. In addition, revenue for the financial year is expected to be no less than GBP103 million, down from GBP129.7 million the year prior.
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Oxford BioDynamics PLC, down 23% to 26.24p, 12-month range 9.20p-52.00p. The biotechnology company reports interim results for six months ended September 30. Reports a jump in revenue to GBP510,000 from GBP154,000 a year earlier. Pretax loss widens, however, to GBP11.4 million from GBP7.6 million a year earlier "This year we again made significant, rapid progress in the transformation of OBD that began with our expanded strategy in late 2020," CEO Jon Burrows comments. Looking ahead, he said: "This year, we are dedicated to growing sales of both EpiSwitch CiRT and EpiSwitch PSE across all our markets and channels and to pursuing opportunities to monetize assets from within our pipeline of deployable tests."
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By Sophie Rose, Alliance News senior reporter
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