AIM WINNERS & LOSERS: Powerhouse Energy hails UK patent win

Tue, 21st May 2024 10:55

(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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Powerhouse Energy Group PLC, up 26% at 1.23 pence, 12-month range 0.23p-1.35p. The waste-to-energy conversion firm lands a patent in the UK. It concerns the "treatment of waste producing recirculated combustible". "This patent gives intellectual property protection in the UK around the utilisation of recirculated synthesis gas to heat one or more chambers and the utilisation of recirculated synthesis gas to provide electrical power via a gas generator to increase the efficiency of the process and allow the process to be 'self-sustaining' when in operation, by removing the reliance on an external gas source," it says. It lauds the patent award as "another significant milestone".

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AIM - LOSERS

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Calnex Solutions PLC, down 12% at 55.00p, 12-month range 40.00p-143.00p. The provider of test and measurement solutions, serving the telecommunications and cloud computing markets, reports weaker yearly results. Revenue in the year to March 31 falls 41% to GBP16.3 million from GBP27.4 million. It swings to a pretax loss of GBP384,000 from profit of GBP7.2 million. It maintains its final dividend of 0.62p, and its total dividend of 0.93p is also unchanged on-year.

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Watkin Jones PLC, down 9.3% at 48.60p, 12-month range 30.00p-99.90p. The London-based student accommodation developer and manager says revenue in the six months to March 31 rises 14% to GBP175.1 million from GBP153.9 million. It swings to a pretax profit of GBP2.1 million from a loss of GBP766,000. However, it decides against an interim dividend, after a 1.4p per share payout a year prior. It explains: "The board is prioritising the maintenance of financial flexibility during this period of market disruption and consequently is not declaring an interim dividend; the board will keep this approach under review."

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By Eric Cunha, Alliance News news editor

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