(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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Aeorema Communications PLC, up 22% at 81.80 pence, 12-month range 34.50p-83.00p. The live events agency expects full-year revenue and profit to exceed previous forecasts thanks to strong demand. It expects to deliver a pretax profit of no less than GBP830,000 in the year ended June 30. This would be a swing from a loss of GBP159,698 the previous year and exceed its expectations of a GBP700,000 profit.
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Immotion Group PLC, up 7.7% at 3.50 pence, 12-month range 3.10p-7.50p. The virtual reality entertainment company says revenue in its core business almost doubled in the first-half, rising to GBP4.4 million from GBP2.3 million a year earlier. The Location Based Entertainment arm also enjoyed a record month, with July revenue amounting to GBP1.3 million, it says. For the first seven months of the year, revenue at the business stood at GBP5.7 million, up 78% annually. "The summer trading period is looking very encouraging," Chief Executive Martin Higginson comments.
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AIM - LOSERS
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Inspecs Group PLC, down 8.9% at 218.70p, 12-month range 210.00p-420.00p. The eyewear company swings to an interim profit of USD769,000 for the half-year ended June 30, from a loss of USD3.5 million a year prior. Revenue is up 10% to USD138.4 million from USD125.7 million. Inspecs says its reported results were hit by the euro's devaluation against the dollar. It will mull changing its reporting currency. In addition, it warns it is "cautious of the overall economic outlook for the UK and European market".
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Angling Direct PLC, down 19% at 29.62p, 12-month range 28.00p-77.00p. The specialist fishing tackle retailer warns annual revenue will fall short of market expectations. For the first half ended July 31, it expects to report revenue of GBP38.9 million, up 1.3% year-on-year from GBP38.4 million. Angling says it has faced an "inevitable impact" from cost of living pressures, falling consumer confidence and inflation. It has also felt the heat from recent hot weather. It now expects revenue "marginally below current market expectations" for financial 2023. Its pre-IFRS 16 earnings before interest, tax, depreciation and amortisation will be "materially behind current market expectations" and land in the region of GBP3.0 million to GBP3.4 million.
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By Eric Cunha; ericcunha@alliancenews.com
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Aeorema Comm. (AEO)
Inspecs Group (SPEC)