(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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Sunrise Resources PLC, up 4.9% at 0.23 pence, 12-month range 0.19p-0.39p. Sees "early strength" from preliminary results from two commercial concrete pours of natural pozzolan from CS Pozzolan-Perlite deposit in Nevada. Said seven-day concrete strengths exceed the 24-day target strengths after just 7 days curing. Also, notes all customer trials for expansion of Horticultural grade perlite now completed for 100-tonne bulk sample. Executive Chair Patrick Cheetham said: "We are delighted to be announcing these exciting results which come after a number of frustrating delays. The preliminary results from the concrete pours using CS natural pozzolan are first-rate and, we anticipate, will provide the basis for a more structured arrangement with the CRMC carrying out this work."
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Surface Transforms PLC, up 5.0% at 65.10 pence, 12-month range 20.87p-79.00p. Selected as a tier one supplier of a carbon ceramic brake disc to an undisclosed US automotive company. The Liverpool, England-based manufacturer of carbon ceramic products said all terms and conditions have been agreed. The lifetime revenue on this contract is estimated to be GBP20 million commencing in mid 2024. Annual revenue is estimated to be GBP5 million per year from 2025 to 2027 inclusive, with approximately half that sum in 2024 and 2028.
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AIM - LOSERS
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Gattaca PLC, down 8.4% at 226.30 pence, 12-month range 44.00p-272.00p. Expects to report annual results ahead of market forecasts but below prior year's levels. The Fareham, England-based employment agency said continuing net fee income for the six months to July 31 was 7% higher than for the six months to January 31, with the full year net fee income at GBP42.5 million, lower than GBP52.8 million the year earlier, reflecting the market impact of the Covid-19 pandemic. Gattaca noted that its front line headcount increased by 13% since January whilst it was tightly managing the overall cost base. Consequently, subject to final adjustments and audit, the company said it expects continuing underlying pretax profit for the financial year that ended on July 31 to be in excess of GBP3 million, beating market consensus of GBP2.7 million. A year ago, the company posted continuing underlying pretax profit of GBP4.6 million.
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Shield Therapeutics PLC, down 10% at 43.77 pence, 12-month range 33.00p-139.45p. Excited about its long-term prospects despite swinging to loss in the first half of 2021. The Newcastle, England-based pharmaceutical company reported a swing to pretax loss of GBP7.6 million in the six months to the end of June from GBP2.7 million profit posted a year earlier. Revenue plummeted to GBP481,000 from GBP8.9 million year-on-year. Shield Therapeutics explained that revenue arised entirely from royalties from Norgine in respect of sales of Feraccru in Europe. A year ago, revenue came from the upfront payment received from ASK Pharm on entering into the license agreement for the development and commercialisation of Feraccru in China. In addition, selling, general and administrative expenses grew to GBP6.1 million from GBP4.8 million in the first half of 2020. Research and development expenditure widened to GBP1.6 million from GBP681,000 year-on-year.
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By Paul McGowan; paulmcgowan@alliancenews.com
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Sunrise Res (SRES)
Gattaca (GATC)
Surface Transforms (SCE)
Shield Thera (STX)