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Pin to quick picksUnivision Share News (UVEL)

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AIM WINNERS & LOSERS: Forward Partners goes backwards; Plexus rises

Mon, 20th Jun 2022 11:07

(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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UniVision Engineering Ltd, up 32% at 0.33 pence, 12-month range 0.20p-1.30p. Shares recover after tumbling on Friday following an announcement about the cancellation of a contract. The CCTV and surveillance system company said Friday a deal for the replacement works of CCTV system for MTR Corporation Ltd's railway was cancelled.

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Filtronic PLC, up 26% at 11.36 pence, 12-month range 8.50p-13.50p. Shares surge after the Leeds-based antenna maker announced top line growth in its recently ended financial year, cementing its guidance of profit beating market expectations despite the global semiconductor shortage. For the year ended May 31, the company expects revenue to be around GBP17.1 million, up 9.6% from GBP15.6 million the year before.

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Plexus Holdings PLC, up 9.1% at 4.09 pence, 12-month range 3.71p-14.50p. The engineering services provider announces a new purchase order for Plug & Abandonment equipment and services. The West Sussex-based firm expects the new order with Oceaneering International Services Ltd to generate revenue in the region of GBP500,000 in 2023. The customer is a division of Oceaneering International Inc, a subsea engineering and applied technology company.

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AIM - LOSERS

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Actual Experience PLC, down 47% at 4.00p, 12-month range 2.75p-114.00p. Human experience analytics-as-a-service company on Friday said a channel partner, a global energy supplier, will terminate its contract with Actual on August 18, after the contract was first announced in August 2021. The contract had a total value of GBP1.0 million, and was meant to run over a three-year period. The contract has generated around GBP200,000 in value so far.

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Forward Partners Group PLC, down 16% at 50.00 pence, 12-month range 40.00p-130.00p. The investment firm warns of "downward pressure on valuations and funding rounds" as investor confidence weakens. "The delay in funding rounds will result in key portfolio companies moving from being valued with reference to the price of the last round of investment to being valued on a revenue multiples basis. Further, those multiples are calculated from the enterprise values of listed peers which are trading at much lower levels than a year prior," Forward says. It expects to see a "mid-to-high twenties percentage point decline" in its Ventures portfolio valuation at the half-year. Shares hit the 12-month low on Monday.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

More News
16 Oct 2023 16:44

Hong Kong High Court orders UniVision Engineering to be wound up

(Alliance News) - UniVision Engineering Ltd on Monday said it has been ordered to be wound up by the High Court in Hong Kong.

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11 Oct 2023 18:10

IN BRIEF: UniVision says winding-up petition adjourned again

UniVision Engineering Ltd - Hong Kong-based company that supplies, designs, installs and maintains closed-circuit television and surveillance systems, and also sells security-related products - Announces that the winding up petition brought against it by one of its sub-contractors, KML Engineering Ltd, first announced on July 28, has been adjourned until October 16. The hearing had already been adjourned to September 27, and then to today, by the High Court in Hong Kong.

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2 Oct 2023 20:41

EARNINGS AND TRADING: Clean Invest reports interim loss and no revenue

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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27 Sep 2023 19:43

TRADING UPDATES: Inland Homes appoints administrators; EDX buys Hutano

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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14 Sep 2023 12:01

UniVision Engineering receives wind up petition from E-Star

(Alliance News) - UniVision Engineering Ltd on Thursday said it intends to defend itself against a wind up petition brought about by one of its subcontractors, E-Star Engineering Co.

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29 Aug 2023 14:07

UniVision Engineering receives GBP1.2 million wind up petition

(Alliance News) - UniVision Engineering Ltd on Tuesday said it has received a wind up petition from a supplier for outstanding debt of HKD11.5 million, about GBP1.2 million.

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28 Jul 2023 16:34

TRADING UPDATES: Jardine Matheson net assets rise, Oberon loss widens

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on xxxday and not separately reported by Alliance News:

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6 Jul 2023 14:58

IN BRIEF: UniVision Engineering unable to explain jump in share price

UniVision Engineering Ltd - Hong Kong-based company that supplies, designs, installs and maintains closed-circuit television and surveillance systems, and also sells security-related products - Says it is not aware of any material commercial or operational reason for the significant increase in its share price, other than the recent restoration of trading on AIM after the publication of its half-year report on June 19.

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19 Jun 2023 11:48

IN BRIEF: UniVision swings to loss following MTR contract termination

Univision Engineering Ltd - Hong Kong-based CCTV supplier - Says it swings to pretax loss of GBP256,000 in the six months ended 30 September 2022, from a profit of GBP142,000 in the same period the year prior. Revenue falls to GBP653,000 from GBP5.0 million the prior year. The company says this was due to the termination of its major contract with MTR Corporation Ltd, which was effective from June 20. The company says it is considering a number of financing methods to improve its liquidity following the collapse of revenue; obtaining a loan facility of HKD12 million - around GBP1.2 million - and a potential investor providing a standby unconditional facility of HK20 million. The company declares no interim dividend.

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19 May 2023 19:26

IN BRIEF: UniVision Engineering belated results show swing to loss

UniVision Engineering Ltd - Hong Kong-based CCTV supplier - Reports delayed final results for the year ended March 31, 2022. Says revenue fell by 64% to GBP3.9 million from GBP10.9 million the year prior mainly due to the expiry of several maintenance contracts and the delay of several project deliveries. Pretax loss totalled GBP10.3 million, swinging from a pretax profit of GBP563,000 before. Company is considering and negotiating a number of financing measures to improve its liquidity and financial position. After reviewing cash flow projections prepared by management, company feels it has sufficient working capital to finance its operations and meet its financial obligations over the next 12 months. Continues to negotiate with MTR Corp over termination of its contract for alleged breach of contract which company disputes. Explains the termination of the contract would represent a significant loss of future revenue and profit for the company. However, says company would be able to re-deploy resources from this contract to other projects to mitigate this reduction. Calls for meetings with MTR Corp to discuss outstanding amounts and to quantify unbilled work.

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16 Feb 2023 21:35

TRADING UPDATES: Heavitree profit soars; Riverstone net assets rise

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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13 Dec 2022 12:33

IN BRIEF: UniVision's CFO leaves board; asked to pay Synnex

UniVision Engineering Ltd - Hong Kong-based CCTV supplier - announces that Director YIP Kwok Fai, knows as Danny Yip, has resigned from the board with effect tomorrow. The company says it is looking to appoint a replacement, and in the meantime Yip will remain at the company as chief financial officer.

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18 Oct 2022 17:07

TRADING UPDATES: Chaarat enters takeover discussions with Shanta Gold

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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12 Oct 2022 14:39

TRADING UPDATES: Angus Energy exceeds monthly production targets

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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4 Oct 2022 21:56

IN BRIEF: UniVision Engineering suspended from trading on AIM

UniVision Engineering Ltd - Hong Kong-based CCTV and surveillance system company - On Monday, temporarily suspended from trading on AIM pending the publication of the company's annual audited accounts.

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