(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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Sosandar PLC, up 18% at 28.25 pence, 12-month range 19.00p-37.00p. The online women's fashion brand expects its annual results to be ahead of market expectations, with a significantly reduced loss and more than doubled revenue. For the year ended March 31, Sosandar expects to report a sharply narrowed loss before interest, tax, depreciation and amortisation from GBP2.9 million reported the year before, driven by revenue reaching GBP29.0 million, more than doubled from GBP12.2 million. Current market expectations had tipped for Sosandar to report a loss of around GBP900,000, on GBP27.1 million in revenue for the 2022 financial year.
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FD Technologies PLC, up 8.4% at 2,379.25p, 12-month range 1,276.14p-2,995.00p. The financial markets technology provider expects to meet full-year adjusted earnings and revenue guidance. FD Technologies previously guided for revenue between GBP255 million to GBP260 million for the financial year ended February 28, up as much as 9.3% from GBP237.9 million delivered in financial 2021. Adjusted Ebitda was forecast to be in the region of GBP31 million to GBP33 million. This would reflect a 23% to 31% decrease from GBP40.5 million. The company says that coupled with its new partnership with Microsoft, it has entered financial 2023 in a good position.
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AIM - LOSERS
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Eco Atlantic Oil & Gas Ltd, down 16% at 30.40p, 12-month range 0.17p-31.40p. The oil and gas company places 64.9 million new shares at 30.00p each. Late Tuesday, it said that it was planning to raise up to USD25 million via an equity fundraising that would be conducted via an accelerated bookbuild programme. The issue price is a 17% discount to Tuesday's closing price of 36.10p.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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Sosandar (SOS)
Eco (atlantic) (ECO)
FD Technologies (FDP)