AIM WINNERS & LOSERS: SkinBioTherapeutics gets Croda positive feedback

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

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AIM - WINNERS

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Engage XR Holdings PLC, up 17% at 0.76 pence, 12-month range 0.52p-4.00p. The spatial computing and metaverse technology says revenue in the first half of 2024 rises to GBP2.2 million from GBP2.1 million. Its pretax loss narrows to GBP1.8 million from GBP2.2 million. "Engage XR has delivered a resilient performance in the first half, despite a continued reduction in global spending on remote events and immersive marketing, post-lockdown. We have made good progress within the corporate learning & development sectors, validated by new deals with Bank of America, and a large Middle Eastern enterprise, via PwC, to develop a private MetaWorld for them," Chief Executive Officer David Whelan says. "With the additional contracted revenue yet to be recognised and the strength of the pipeline, the Board remains confident about delivering against its expectations for the year. Looking further ahead, as platform partners, such as Meta and Lenovo, look to build recurring revenues in the education, training and development sectors, we are confident that Engage XR is in a prime position to capitalise on this nascent, but growing market."

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SkinBioTherapeutics PLC, up 3.4% at 10.99p, 12-month range 7.00p-29.50p. The life science firm, with a focus on skin health, reports "positive feedback" from Croda International PLC's Beauty Care division. It follows final testing of SkinBiotix technology. "The full technical dossier is now in the process of being completed with the new data and will then be passed onto the Croda marketing and sales teams, to plan commercialisation. Pilot-scale manufacturing at 600 litre scale is currently in progress and will generate the final product into samples which will be shared with a few key customers prior to launch. Full-scale production is scheduled for 2025," SkinBioTherapeutics says.

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AIM - LOSERS

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Trakm8 Holdings PLC, down 8.6% at 6.40p, 12-month range 6.00p-18.00p. The provider of fleet management software and data services says "Insurance revenues continue to be depressed". Revenue from Fleet and Optimisation units are "considerably ahead", however. Group revenue in six months to September 30 to be "modestly ahead of the same period last year". It adds: "For the balance of the current financial year, whilst we believe the performance of our Insurance business will improve gradually over the coming months, this is taking longer than originally anticipated to occur. Fleet and Optimisation revenues are expected to be better than that originally expected, and we remain positive about securing the significant Optimisation contract highlighted at the time of the full year results."

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By Eric Cunha, Alliance News news editor

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