(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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SpaceandPeople PLC, up 26% at pence, 12-month range 62.5p-108p. The retail, promotional and brand experience specialist announces another extension to its commercialisation agreement with Network Rail for providing exhibitions, events and distribution activity until September 30, 2024. The agreement still covers Network Rail's portfolio of major London and regional railway stations, and Victoria Place shopping centre in London.
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AIM - LOSERS
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Safestyle UK PLC, down 43% at 4.7p, 12-month range 4p-32p. The retailer and manufacturer of PVCu replacement windows and doors says it has fallen behind internal forecasts since mid August, which has persisted into September. "It is management's belief that following a wet summer, the unseasonally warm weather at the end of August into the hottest early September on record is compounding the macroeconomic factors that influence current market demand levels," the firm explains. Takes measures to mitigate impact of weaker demand, including reducing shifts in factory, as well as board members voluntarily waiving pay. However, says these will not be enough to fully mitigate the hit. Now expects annual revenue for 2023 to be between GBP140 and GBP142 million, with underlying loss to be GBP9.5 to GBP10.5 million. Also expects year-end net debt to be between GBP5.5 and GBP6.5 million.
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Quiz PLC, down 39% at 5.4p, 12-month range 4.58p-18.5p. The fashion company says revenue in the year beginning April 1 has continued to lag the prior year, sitting below management expectations, as inflationary cost pressures hit consumer confidence and demand for its products. In the five months to August 31, revenue is down 15% year-on-year to GBP37.0 million from GBP43.7 million. Quiz says that if the current trend continues, annual revenue is likely to be 6% to 7% behind current market expectations, which will have a knock-on effect on profit. It would expect a pretax loss of no more than GBP1.5 million, swinging from profit of GBP2.3 million in the prior year. Quiz adds: "Whilst the impact of cost of living pressures on consumers' disposable income persists, management continues to retain a tight control on costs and is proactively reviewing all aspects of the business to mitigate the impact of the current economic and trading environment on the group and identify potential strategies to drive additional revenue growth."
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By Elizabeth Winter, Alliance News senior markets reporter
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SpaceandPeople (SAL)
Quiz (QUIZ)