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AIM WINNERS & LOSERS: Kinovo rises as results ahead of expectations

Fri, 24th May 2024 10:37

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.

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AIM - WINNERS

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Kinovo PLC, up 8.1% at 60.00 pence, 12-month range 38.50p-70.00p. Shares in the provider of safety and regulatory compliance services for the property sector rise. Kinovo expects to report a full year performance ahead of prior expectations. Anticipates profit from continuing operations to rise by 15% to GBP18.9 million from March 31 from GBP16.5 million a year earlier. Earnings before interest, tax, depreciation and amortisation to rise by 23% to GBP6.7 million from GBP5.5 million, ahead of expectations of GBP6.2 million. Pretax profit are eyed up to GBP6.1 million from GBP4.9 million.

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Genedrive PLC, up 9.9% to 1.84p, 12-month range 1.21p-18.98p. The pharmacogenetic testing company says that initial orders have been received for the Genedrive MT-RNR1 products from a further five UK hospitals in the Greater Manchester region. The total value of the orders is over GBP100,000. Chief Executive James Cheek says: "I am delighted to see the positive effects of our direct to customer commercialisation strategy in the UK, with further NHS engagement and uptake for bringing this vital test which has the potential to avoid profound, irreversible hearing loss in babies in neonatal care units into day-to-day use in neonatal emergency care. Our expectation is that more NHS trusts will adopt this simple to use point of care genetic test in the coming months and we continue to grow our opportunities overseas."

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AIM - LOSERS

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Goldstone Resources Ltd, down 62% at 0.88p, 12-month range 0.78p-3.30p. Shares in the gold producer and explorer fall, as suspension on trading is lifted. It says it has raised GBP834,000 through a fundraising of shares. "The board believes that the fundraise, in conjunction with the group's ongoing revenues and creditor arrangements, provides sufficient working capital for continued operations," Goldstone adds.

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By Sophie Rose, Alliance News senior reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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