AIM WINNERS & LOSERS: Malvern eyes return to interim profit

Thu, 24th Aug 2023 10:44

(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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Malvern International PLC, up 17% at 21 pence, 12-month range 7p-21.5p. The London-based learning and skills development company reports an upbeat trading update, as revenue in the first half rises to GBP4.8 million from GBP2.3 million a year prior. Attributes the rise to "strong" university pathways student intakes in September last year and this January, as well as a 40% rise in English language teaching revenue. Further, expects to return to profit for the period, after a pretax loss of GBP676,000 the year before. "The increase is the result of the expansion of the international sales team, improved processes to manage and convert the student recruitment pipeline, and significant recruitment travel to key feeder markets including joint marketing trips to India and Nepal with the University of East London," Malvern says.

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AIM - LOSERS

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Touchstone Exploration Inc, down 11% at 67.74p, 12-month range 51p-105p. The Calgary, Canada-based oil and gas company focused on Trinidad & Tobago completes its programme of five production test intervals at its Royston-1X well, but the well is shut in while it waits for the arrival of a service rig which will be used to put the well on pump to enable further testing. "We expect that once the well is pumping, the hydrostatic pressure on the reservoir will be reduced, allowing the formation fluid to produce at increased rates," the company says.

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Benchmark Holdings PLC, down 6.7% at 37.81p, 12-month range 33p-46.91p. The West Sussex, England-based aquaculture biotechnology company updates on its third quarter ended June 30. Revenue drops to GBP34.2 million from GBP36.3 million a year before, as pretax loss narrows to GBP4.7 million from GBP11.2 million. Says growth in Genetics was offset by weakness in Advanced Nutrition, which it attributes to a weak appetite for shrimp amid adverse market conditions. Also notes anticipated low seasons for Health solutions in Salmon industry. "Despite these headwinds we have delivered strong year-to-date results, with double-digit growth in revenues and earnings compared to the prior year," says CEO Trond Williksen.

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By Elizabeth Winter, Alliance News senior markets reporter

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