(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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Osirium Technologies PLC, up 50% at 9.58 pence, 12-month range 4.50p-26.98p. The cybersecurity firm reports a record quarter for bookings in the first quarter of 2022. "The group is seeing continued growth in contract values and a return to pre-pandemic levels," the company says. Five contracts secured in the first three months of 2022 are each at a larger value than any individual contract the firm signed in the financial year 2021, Osirium explains. Its partner ITHealth delivered over GBP300,000 of business in the period, it adds.
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SysGroup PLC, up 19% at 28.00p, 12-month range 22.75p-50.90p. The services and cloud-hosting provider buys Truststream Security Solutions Ltd, a managed cyber security services provider based in Edinburgh, Scotland. The acquisition worth GBP4.8 million will be funded from Sysgroup's existing cash balance and a new revolving credit facility of GBP8.0 million, the Liverpool-based firm says. In the financial year ended September 30, 2021, Truststream generated a pretax profit of GBP800,000 and revenue of GBP3.2 million.
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Longboat Energy PLC, up 17% at 71.67p, 12-month range 48.00p-102.00p. The oil and gas company reports a significant oil discovery in the Equinor-operated Kveikje exploration well in licence PL293B, in the Norwegian North Sea. Says "excellent quality" oil-filled reservoir was encountered in the Kveikje primary Eocene target, alongside a gas layer of similar quality in the overlaying Kveikje Hordaland Eocene injectite. In addition, secondary targets such as Rokke and N'Roll both encountered indications of sand, with hydrocarbons, however further analysis will be needed to determine its potential.
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AIM - LOSERS
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Intercede Group PLC, down 20% at 46.90p, 12-month range 37.00p-120.00p. The cybersecurity software firm says it expects revenue for its recently ended financial year to be lower due to delays on large deals. Intercede expects revenue for the year ended March 31 to be in the range of GBP9.9 million to GBP10.0 million. This would be around 10% lower than the GBP11.0 million generated in financial 2021. The company explains that it experienced delays with a number of "large new opportunities," leading to it not being able to secure a substantial license order within the year. Further, Covid-19 has continued to hurt trading outside the US market.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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Intercede (IGP)
Osirium Tech (OSI)
Longboat Energy (LBE)