(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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Cloudcoco Group PLC, up 8.4% at 1.57 pence, 12-month range 0.61p-2.17p. Revenue for half-year ended March 31 edges down to GBP4.1 million from GBP4.4 million year-on-year, but pretax loss narrows to GBP669,000 from GBP1.6 million. Post period-end, continues to see demand for its services and further progress in developing partnership ecosystem. "With an increasing pipeline of opportunities despite the ongoing impact of Covid, we remain confident in our prospects for the second half, facilitated by the easing of restrictions," firm says, adding it is looking at ways to scale the business.
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AIM - LOSERS
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Clinigen Group PLC, down 26% at 618.50p, 12-month range 554p-897p. The pharmaceuticals and services provider says pandemic has continued to hurt its earnings. "The negative impact of Covid-19 is primarily due to the global reduction in hospital-based oncology treatments and delays to clinical trials. In particular, demand for Proleukin within its current approved indications was significantly weaker than expected in recent months," Clinigen says. Net revenue is expected to be in line with prior guidance and consensus expectations, but adjusted adjusted earnings before interest, tax, depreciation and amortization is guided between GBP114 million and GBP117 million - due to the lower proportion of revenues from the Products division. Adjusted Ebitda in financial 2020 was GBP131.0 million. Broker Peel Hunt says its 2021 financial year adjusted Ebitda estimate prior to Wednesday's update was GBP130 million.
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Remote Monitored Systems PLC, down 20% at 1.00p, 12-month range 0.2p-6.85p. The survey and inspection services provider posts pretax loss of GBP1.6 million, widened sharply from GBP712,000 the year prior. However, GBP363,000 of the loss was due to an impairment on the value of its investment in Gyrometric, which develops drive shaft monitoring systems. In a separate announcement, RMS and co-investor Braveheart Investment Group PLC set out plans to turn control of GyroMetric back to its founders for a nominal consideration.
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Beowulf Mining PLC, down 9.3% at 3.61p, 12-month range 3.38p-7.07p. Mineral exploration and development company assesses UNESCO's comments on the company's application for an exploitation concession for the Kallak iron ore project, Sweden. Beowulf Chief Executive Kurt Budge says: "The company maintains it is inappropriate for UNESCO to write about an area that we would strongly argue falls outside of its jurisdiction." CEO adds that: "Importantly, UNESCO does not conclude that Kallak cannot be mined." Says company has already spoken to government and will be doing so again to seek clarity on next steps.
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By Lucy Heming;Â lucyheming@alliancenews.com
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