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(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.
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AIM - WINNERS
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Novacyt SA, up 16% at 385.10 pence, 12-month range 220.00p-1,190.00p. Biotechnology firm announces its Covid-19 PCR test had been authorised by the UK regulator. The company's genesig coronavirus PCR test was approved by the UK Health Security Agency. The genesig product is Novacyt's first test to be added to the Coronavirus Test Device Approvals register and the firm will now work to resume the sale of the product in the UK. On November 2, Novacyt said its full-year 2021 revenue would take a GBP3 million hit if no further products were approved. The news of genesig's approval means the financial impact on 2021 will be "significantly lower" as the Covid test accounts for around 30% of the GBP3 million revenue shortfall.
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EQTEC PLC, up 5.7% at 1.40 pence, 12-month range 0.75p-2.77p. Signs strategic collaboration agreement with consulting and engineering company Wood. Under the deal, the pair will jointly target and pursue market opportunities for collaborative development and deployment of clean, waste-to-synthetic natural gas and waste-to-hydrogen solutions and delivery of related projects.
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AIM - LOSERS
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Parkmead Group PLC, down 14% at 40.46 pence, 12-month range 32.55p-60.90p. Reports substantially widened annual loss due to increased operating expenses. The Netherlands and UK-focussed gas explorer reported a significantly widened pretax loss in the year ended June 30, of GBP13.4 million from GBP792,000 the year before. This was due to a large increase in operating costs to GBP12.7 million from GBP177,000. Administrative expenses also multiplied to GBP3.0 million from GBP257,000. Parkmead's revenue fell 12% to GBP3.6 million from GBP4.1 million. The energy group blamed this on considerably lower commodity prices during 2020 as a result of the pandemic. The company said it remained unhedged for 100% of its gas production, which it feels gives it exposure to the higher Dutch gas prices for the remainder of the year. Parkmead said it has started the new financial year on "sound footing" with record-high gas prices and ongoing work across a number of projects.
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By Paul McGowan; paulmcgowan@alliancenews.com
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