(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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Altus Strategies PLC, up 6.7% at 49.60 pence, 12-month range 46.50p-81.00p. Announces several gold discoveries across all four of the company's projects in Egypt, with more than 100 hard rock artisanal gold workings mapped with grades up to 100 grams per tonne of gold. These results indicate that there is potential for the presence of several multi-kilometre long prospective structures. In addition, Altus was awarded two new licences in Egypt under a recent competitive bid round, which comprise two blocks covering 349 square kilometres. Looking ahead, Altus will undertake an aggressive exploration campaign, including rock chip sampling, channel sampling and geological mapping to define potential drill targets.
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XP Factory PLC, up 9.0% at 26.44 pence, 12-month range 22.75p-41.92p. Says revenue more than doubled and its loss was all but eliminated in 2021, but it still doesn't plan to pay a dividend anytime soon. Revenue more than doubled to GBP7.0 million in 2021 from GBP2.7 million year-on-year. As a result, the company's pretax loss narrows to GBP885,000 from GBP6.6 million loss. Owner-operated estate increases by 46% to 19 sites, compared to 13 sites in 2021. It added that these sites traded above the company's own expectations in the first quarter of 2022. Looking forward, says it is unlikely that the board will recommend a dividend in the next few years. "The directors believe the company should improve performance to generate profits to fund the company's growth strategy over the medium term," it explains.
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AIM - LOSERS
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CPPGroup PLC, down 23% at 186.00 pence, 12-month range 517.50p-186.00p. Hits 12-month low as it lowers its expectations for profit in 2022 and 2023, due to reduced contract benefits and added costs related to the change management programme. For the first quarter ended March 31, CPPGroup notes that trading was in line with expectations, with revenue from continuing operations being 4% higher from the same period a year prior. Concludes negotiations with its largest business partner, leading to an extended contract to December 2024, however due to the business partner securing improved terms, the company has reduced its expectations for annual earnings before interest, tax, depreciation and amortisation. Lowers expectations for both 2022 and 2023, with the former's Ebitda now set to come between GBP5.8 million and GBP6.3 million, with a similar range for 2023. The guidance range reflects a 16% to 23% decline from GBP7.5 million in 2021.
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By Paul McGowan; paulmcgowan@alliancenews.com
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Cppgroup (CPP)
Xp Factory (XPF)