(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.
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AIM - WINNERS
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Iofina PLC, up 12% at 27.5 pence, 12-month range 13.53p-28.5p. The iodine producer expects 2022 earnings before interest, tax, depreciation and amortisation to be materially ahead of previous market expectations, at not less than USD10.5 million. Revenue for the full year remains in line with current guidance. For 2021, Ebitda amounted to USD6.9 million. Revenue was USD39.0 million. Notes strong global demand for both iodine and iodine-based derivatives throughout 2022.
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Pressure Technologies PLC, up 19% at 46p, 12-month range 23p-103p. The group of specialist precision engineering businesses says its wholly-owned subsidiary Chesterfield Special Cylinders will supply air pressure vessels for a major UK naval new construction programme. It adds that the contract for the final phase of the programme is worth GBP18.2 million for CSC, underpinning current market expectations. Pressure Technologies says that pressure vessels will be delivered over the next three years. Chief Executive Chris Walters says the contract shows the "continued close collaboration" with its major defence customers.
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AIM - LOSERS
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IOG PLC, down 38% at 5p, 12-month range 4.8p-46p. The North Sea-focused gas and infrastructure operator says its plans to improve the flow rate at the A2 well in Southwark gas field in the UK southern North Sea have not worked. IOG says the remediation of its A2 well managed to reduce water production by isolating certain zones. However, the perforations have failed to bring about the expected improvement in gas rates, which have been limited to 2.5 million standard cubic feet per day. The firm will now suspend the A2 well, and consider alternative longer-term remediation strategies and cycled production. CEO Rupert Newal says the firm is "very disappointed" with the development, but will use the knowledge gleaned from the A2 well for the A1 well plan.
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EKF Diagnostics Holdings PLC, down 18% at 32.2p, 12-month range 29p-65p. The diagnostics firm says annual adjusted earnings before interest, tax, depreciation and amortisation is likely to be slightly below market expectations. This is due to a slower-than-expected transition to non-Covid revenue in its Contract Manufacturing and Laboratory Testing divisions. Revenue is expected to be in line with market expectations. CEO Mike Salter steps down from his role with immediate effect, but remains on the management team. Non-Executive Deputy Chair Julian Baines becomes executive chair on a short- term basis, while the firm looks for a replacement CEO. Non-Executive Chair Christopher Mills stays on as a non-executive director.
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By Elizabeth Winter, Alliance News senior markets reporter
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Iofina (IOF)
Pressure Tech (PRES)
Ekf Diagnostics (EKF)