(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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Norman Broadbent PLC, up 17% at 9.98 pence, 12-month range 4p-9.98p. Extends gains after closing up 31% on Tuesday. The recruitment and professional services firm on Tuesday posted a pretax loss of GBP193,000 in 2020, swung from a GBP84,000 profit in 2019, as annual revenue dropped 32% to GBP7.8 million. However, it remained profitable on an earnings before interest, tax, depreciation and amortisation basis, which fell to GBP69,000 from GBP238,000.
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Alien Metals Ltd, up 8.5% at 1.25p, 12-month range 0.08p-3.19p. The minerals exploration and development company says initial results from six samples at Elizabeth Hills silver tailings project subjected to test leaching by ALS Perth are "very encouraging" and return high levels of silver recovery. Adds it has extended exclusivity period with the project owner for further 45 days to factor in backlog of work from laboratories in Perth. "This extension will allow Alien to undertaken further assessment over the potential retreatment and recovery of the silver tailings as discussions continue regarding the potential acquisition of the project," company says.
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AIM - LOSERS
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Revolution Bars, down 29% at 23.35p, 12-month range 8p-41.95p. The bar operator raises GBP21 million in fundraise priced at 20p each. Price represented 40% discount to 33.1p closing price on Tuesday. "Thanks to the support of our shareholders and new investors, this successful fundraising will allow Revolution Bars to emerge from this period of disruption in a strong position with a fit-for-purpose balance sheet which provides us with ongoing financial flexibility and an excellent platform from which to deliver for all our shareholders," says Chief Executive Rob Pitcher, adding that firm has traded "outstandingly" since initial lifting of UK lockdown restrictions.
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Cohort PLC, down 8.2% at 615.40p, 12-month range 507.1p-690.93p. Says that despite strong closing order book, delays in the placing of some orders with subsidiary EID, representing around a third of EID's revenue, is likely to hit EID's trading performance in 2022 financial year. EID designs and manufactures advanced communications systems for naval and military customers. Cohort says that while overall revenue expectations for year ahead are unchanged, the mix of revenue is expected to result in reduction of group's overall profit margin and, accordingly, a lower rate of profit growth.
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By Lucy Heming;Â lucyheming@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
Norman Broadb (NBB)
Cohort (CHRT)
Alien Metals (UFO)
