(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.
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AIM - WINNERS
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Victoria Oil & Gas PLC, up 49% at 4.26 pence, 12-month range 2.7p-7.42p. Says perforations have been successfully added to well La-108 safely and under budget and an additional 42 metres of net pay has been added in the Upper Logbaba Formation in the well. In first few days of production, well has supplied up to 7.5 million standard cubic feet per day with a flowing wellhead pressure of over 200 barg. Chief Executive Roy Kelly is "absolutely delighted" with the result.
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Focusrite PLC, up 7.2% at 1,608.55p, 12-month range 910.08p-1,830p. The music and audio products company reports 34% growth in annual revenue to GBP173.9 million for financial year ended August 31 and pretax profit jumps to GBP35.0 million from just GBP7.0 million. Lifts dividend by 24% to 5.2p. Momentum continues into new financial year, with demand for vast majority of company's products remaining strong. "Our roadmap across all the brands remains robust, with many new product introductions planned to occur later in FY22. Accordingly, we are now cautiously optimistic about the prospects for modest revenue growth in the current year," it says.
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Zenova Group PLC, up 7.6% at 19.9p, 12-month range 15.02p-24.2p. Says its Zenova FP fire-resistant paint has been approved for use by the London Borough of Redbridge. This paves way for the paint to be used by contractors in local authority owned buildings. It notes: "Zenova FP became specified as a fire-resistant paint by the London Borough of Redbridge after Pelling LLP...included it in the specification for the refurbishment of Ilford High Road Deco Building; a project Pelling is managing on behalf of the London Borough of Redbridge."
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AIM - LOSERS
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Gear4music Holdings PLC, down 13% at 698p, 12-month range 627p-1,020p. Says third-quarter revenue to date is slower than expected due to Brexit-related supply chain challenges. "As such the board believes that results for the financial year will be lower than recently upgraded consensus market expectations," the online musical instruments and equipment retailer says. Board now expects full-year earnings before interest, tax, depreciation and amortisation to no less than GBP12 million, which would be down from GBP18.9 million in the prior financial year and below market consensus for GBP14 million.
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Coro Energy, down 10% at 0.26p, 12-month range 0.23p-0.8p. Signs agreement to jointly develop Vietnamese solar asset owner VPE's existing 150 megawatt portfolio of commercial and industrial rooftop solar PV installations. Coro will take an 85% stake in a newly formed joint venture to be named Coro Renewables Vietnam, with initial funding by Coro of USD500,000 to immediately develop a 5 megawatt pilot rooftop project through to 'Ready to Build' status
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Dotdigital Group PLC, down 9.2% at 227p, 12-month range 132.5p-295p. The marketing software company reports full-year organic revenue growth of 23% to GBP58.1 million in "strongest year to date amid pandemic-related challenges". Says that, as it enters the new year, trading environment is more normalised. "Although restrictions are easing and vaccination programmes are under way in most territories, Covid-19 will continue to be a risk factor for the foreseeable future, and not all its after effects will be easy to foresee. We therefore need to continue to monitor its impact on our customer base, and be ready to respond accordingly," it says.
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By Lucy Heming;Â lucyheming@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
Gear4music (G4M)
Focusrite (TUNE)
dotDigital Group (DOTD)
Coro Energy (CORO)
Zenova Grp (ZED)