(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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Sabien Technology Group PLC, up 68% at 31.00 pence, 12-month range 15.00p-61.20p. The energy saving technology company strikes a deal with City Oil Field Inc of South Korea, a waste-to-energy technology firm. Sabien will be City Oil's "exclusive sales agent" in the UK for an initial one-year period. A longer relationship, as well as future sales targets, have been agreed in principle. "The agreement represents a financially efficient means of Sabien accessing COF's technology and developing its use across the UK and the US," Sabien says.
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Pan African Resources PLC, up 3.8% at 17.02 pence, 12-month range 15.21p-27.10p. The Africa-focused miner declares a record annual dividend as gold prices lift earnings. For the 12 months that ended June 30, pretax profit doubles to USD104.8 million from USD52.2 million, on the back of a 35% rise in revenue to USD368.9 million from USD274.1 million. Gold production rises 12% to 201,777 ounces from 179,457, with sales up 16% to 201,777 ounces from 173,864.
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AIM - LOSERS
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Character Group PLC, down 19% at 562.50p, 12-month range 305.00p-720.00p. The Surrey-based toy, games and gifts manufacturer becomes the latest to warn on "logistical challenges". For toy makers, focus is on the lucrative Christmas period, so firms like Character will be hoping supply chain strife eases before the festive trading spell. Character says it expects underlying pretax profit in the year to August 31 to fall by no more than 10% of market forecasts, which stands at GBP12.0 million, on revenue of GBP140 million. More promisingly, Character says the lifting of Covid-19 restrictions has had a "buoyant impact on sales generally".
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Hornby PLC, down 14% at 38.04p, 12-month range 32.36p-72.95p. The Margate, England-based model railway brand says sales between April 1 and August 31 drift lower than years gone by but are in line with internal expectations. Trading patterns are beginning to return to pre-Covid levels, however, Hornby says. It is mindful of supply chain and port disruption and says its annual outcome, as is so often the case, rests on its Christmas fortunes.
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By Eric Cunha; ericcunha@alliancenews.com
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Pan African (PAF)
Character (CCT)
Hornby (HRN)
Sabien Tech. (SNT)