(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Thursday.
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AIM - WINNERS
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Ingenta PLC, up 14% at 105.20 pence, 12-month range 85.01-134.95p. The company announces two key contract wins for its content distribution platform. These contracts have a total combined value of GBP2 million over a five-year period, with implementation revenue due to begin in the second half of 2023. Chief Executive Scott Winners says: "The deals announced today show further progress in the group's drive to expand its business development activities and follow on from the previously reported media customer win for the group's commercial IP management product. The latest deals include another addition to our growing NGO client base and a prestigious, globally recognised US scientific publisher." Ingenta adds that it expects its full-year results will be "comfortably" in-line with market expectations. Ingenta provides software and services to the publishing industry.
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Symphony Environmental Technologies PLC, up 11% at 7.50 pence, 12-month range 6.25-20.00p. The company says its financial performance in 2023 so far has "sharply improved" from 2022, with Symphony expecting to move back to profitability in the coming months. Says this improved performance is underpinned by its Middle East manufacturing and sales being on plan, lower administrative and distribution costs, and higher gross profit margins. Adds it is confident of delivering positive updates throughout 2023. Symphony develops technology to make ordinary plastic biodegradable.
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AIM - LOSERS
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Landore Resources Ltd, down 16% at 8.76 pence, 12-month range 8.72-22.00p. The Canada-focused precious and base metal exploration and development company raises GBP600,000 before expenses through a placing of shares at 9p each. The shares represent 5.5% of the company's share capital and are at a discount of 12% to its closing price of 10.38p on Wednesday. Explains each placing share has one warrant attached, with each warrant having the right to acquire on shares at an exercise price of 18p on or before the second anniversary of the admission of the placing shares. If the warrants were to be exercised in full in due course, this would result in the issue of 6.7 million shares raising a further GBP1.2 million for the development of the company's business, Landore says. Separately, company announces the appointment of Claude Lemasson as chief executive and the intended dual listing of the company on the TSX Venture Exchange, targeted for the third quarter of 2023.
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Science in Sport PLC, down 13% at 13.00 pence, 12-month range 5.25-48.00p. The sports nutrition company reports a widened annual loss and explains a challenging consumer environment, and supply chain issues adversely impacted the company. In 2022, pretax loss widens to GBP10.6 million from GBP5.3 million the year prior as its cost of goods increase to GBP36.8 million from GBP31.2 million and it records GBP1.1 million in new facility transition costs compared to GBP125,000 the year prior. Revenue rises to GBP63.8 million from GPB62.5 million. This revenue figure was impacted by the closure of its Russian business, port congestion issues in the US and supply chain issues, the company says. Looking forward, Chief Executive Stephen Moon says: "In 2023, we are well set for profitable growth, as evidenced by sales growth over the last four months. Our retail business, domestically and internationally, is delivering profitable growth, and our Amazon business is performing significantly above the same period last year."
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By Heather Rydings, Alliance News senior economics reporter
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Symphony Env. (SYM)
Ingenta (ING)
Landore (LND)