AIM WINNERS & LOSERS: Solid State and Churchill China get profit rises

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

----------

AIM - WINNERS

----------

Solid State PLC, up 14% at 1,153 pence, 12-month range 1,419p-830.4p. Expects to report record results for financial year ended March 31, with revenue at around GBP85 million, up from GBP66.3 million the year before, and adjusted pretax profit of GBP7.2 million versus GBP5.4 million. Says it had "exceptionally" strong finish to year. "The record open order book and trading momentum underpin the near-term prospects and give the directors optimism for the future," the electronic components manufacturer says.

----------

Churchill China PLC, up 13% at 1,579p, 12-month range 1,300p-2,050p. The ceramic products maker's revenue for 2021 jumps to GB60.8 million from GBP36.4 million in 2020, while pretax profit rises to GBP6.0 million from just GBP91,000. "The second half of 2021 saw a strong recovery in our sales to the Hospitality market such that the full-year results are ahead of our expectations," says Chair Alan McWalter.

----------

GB Group PLC, up 9.4% at 624p, 12-month range 498.8p-984p. The digital identity and fraud prevention software firm says results for financial year to March 31 were ahead of market expectations. Expects to report revenue for year of GBP242 million with adjusted operating profit margin at upper end of expectations, of around 24%. This will result in adjusted operating profit not less than GBP58 million.

----------

AIM - LOSERS

----------

Gear4music Holdings PLC, down 28% at 260p, 12-month range 254.4p-1,020p. The online musical instruments and equipment retailer reports total sales of GBP147.6 million in year that ended March 31, down from GBP157.5 million a year before but above the GBP120.3 million generated in the pre-pandemic 2020 financial year. Says revenue and earnings before interest, tax, depreciation and amortisation "slightly lower" than consensus expectations due to weaker than expected consumer demand during February and March. It adds: "Short term inflation-linked overhead cost pressures and weaker consumer confidence across the broader retail landscape will mean the best opportunities for stronger growth during FY23 are likely to be in H2. We are, accordingly, moderating our overall growth expectations for the new financial year, which we believe is the prudent approach in the current environment."

----------

Jangada Mines PLC, down 27% at 7.49p, 12-month range 4.91p-10.80p. Announces updated technical report with the inclusion of a titanium component at its 100%-owned Pitombeiras Vanadium Titano-Magnetite project in Brazil. Reports "robust economics" inclusive of titanium dioxide, saying project has USD96.5 million post-tax net present value. In the preliminary economic assessment published in February 2021, the project had USD106.5 million post-tax net present value.

----------

By Lucy Heming; lucyheming@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.