(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.
----------
AIM - WINNERS
----------
Seed Innovations Ltd, up 18% at 2.54 pence, 12-month range 1.61p-4.42p. The investor focused on early-stage health, wellness and medical cannabis firms, declares a maiden special dividend of 1.0p per share. On Monday, Seed said it received the remaining GBP2.4 million consideration from the sale of portfolio company Leap Gaming. "It has long been an ambition of ours to pay a special dividend to reward shareholders. This achievement underscores our confidence in the company's current financial strength and future prospects, as we believe our existing portfolio and new investments have the potential in the next years to replace the value paid to shareholders now. Whilst we remain in difficult equity markets, we are seeing attractive investment opportunities particularly in businesses seeking to fund growth," Chief Executive Officer Ed McDermott says.
----------
Everyman Media Group PLC, up 4.4% at 57.00 pence, 12-month range 50.12p-69.00p. The picturehouse operator reports revenue growth for 2023, and predicts a "continuously improving film slate in 2024" as Hollywood emerges from last year's strikes. Everyman's revenue in the year to December 28 rises 15% to GBP90.9 million from GBP78.8 million. Its pretax loss, however, stretches to GBP5.5 million from GBP3.5 million. Administrative expenses grow 16% to GBP58.8 million. "Again we have outperformed the wider cinema market and proven that the unique Everyman proposition, with a core focus on exceptional hospitality, is the most relevant form of cinema," Chief Executive Officer Alex Scrimgeour says. "Our measured approach to organic expansion continues, with three exciting and confirmed openings for 2024. We are confident of delivering another year of growth, as we move ahead with a larger footprint and continuously improving film slate."
----------
AIM - LOSERS
----------
Ashtead Technology Holdings PLC, down 14% at 654.00p, 12-month range 310.00p-796.30p. The provider of subsea equipment rental services reports a rise in 2023 earnings and lifts its payout, though the stock returns a chunk of recent gains. Ashtead Technology's pretax profit in 2023 jumps 69% to GBP27.5 million from GBP16.3 million. Revenue surges 51% to GBP110.5 million from GBP73.1 million. It lifts its final dividend 10% to 1.10p from 1.0p. The stock went into the results with a year-to-date gain of 25%, though the fall on Tuesday trims its 2024 advance to 6.5%. Shares have more than doubled on-year, however.
----------
By Eric Cunha, Alliance News news editor
Comments and questions to newsroom@alliancenews.com
Copyright 2024 Alliance News Ltd. All Rights Reserved.