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AIM WINNERS & LOSERS: Revolution Bars warns of soft start to January

Wed, 24th Jan 2024 10:33

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

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AIM - WINNERS

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System1 Group PLC, up 20% at 341.46 pence, 12-month range 145p-343p. The marketing and brand consultancy says it enters the final quarter of its financial year ended March 31 with "good trading momentum". Expects to deliver results ahead of its prior expectations. Revenue is now forecast at GBP29 million for the year, up from GBP23.4 million the year before. Pretax profit is set to be "comfortable" above GBP2 million - which it says is "materially ahead" of consensus - and up from GBP700,000 in financial 2023. In its third quarter, revenue jumped 29% to GBP8.0 million, thanks to a 46% jump in Platform revenue.

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AIM - LOSERS

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Molecular Energies PLC, down 50% at 35.99p, 12-month range 35.18p-153p. The Argentina and US-focused oil and gas production company, formerly known as President Energy PLC, intends to raise at least GBP500,000 in a capital raise. This comprises a placing of 991,851 new shares, and a subscription of 436,714 shares, both at an issue price of 35p. This represents a 52% discount to Tuesday's closing price of 73.5p. "The net proceeds of the fundraising will provide working capital to support the company as it continues the spin-out of its alternative energy division, Green House Capital Group PLC, and pursues new business opportunities to build upon its strong track record of innovation and value creation," the firm says.

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Revolution Bars Group PLC, down 24% at 2.94p, 12-month 2.45p-8.9p. After recently closing eight of its least profitable bars, the Tameside, England-based bar operator warns trading in January has started "softly" as UK consumers feel the pinch after the expense of Christmas. It says it will not be able to assume that the recent increase in the national minimum wage for 18- to 20-year-olds will flow through to discretionary spending at its businesses. It can guarantee that the wage increase will drive up its own costs, however. Further, the continuation of train strikes also challenge its assumptions about like-for-like growth in the second half of its financial year, which ends in July. It expects IAS 17 earnings before interest, tax, depreciation and amortisation to be around GBP3 million to GBP3.5 million. "We have had to take the view that, with inflation remaining high, the recovery for the Revolution business, our largest brand, will take longer than we had previously forecast," says CEO Rob Pitcher.

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By Elizabeth Winter, Alliance News deputy news editor

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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