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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7digital Group PLC, up 32% at 0.24 pence, 12-month range 0.14p-0.90p. The music licensing provider reports a narrowed interim loss as revenue climbs amid recent contract renewals. Its pretax loss in the six months to June 30 narrows to £330,000 from £1.9 million a year prior. Revenue grows 21% to £3.9 million from £3.3 million. ‘In progress with existing licensing customers, [7digital] secured 3 contract renewals or expansions during the first half of the year versus 4 in the first half of 2021, reflecting the value of 7digital’s platform and services to its customers. This included a contract expansion with a B2B music streaming service customer, worth a minimum of €2.2 million over a three-year period,’ it explains.
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AIM - LOSERS
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Glantus Holdings PLC, down 63% at 12.82p, 12-month range 0.34p-17.00p. The Dublin-based data platform, which provides accounts payable services, warns on ‘additional operational expenses’ in the second half of 2022, as well as disruption stemming from a relocation to Costa Rica. The move will affect revenue timing in the second half of the year. Glantus also expects to incur extra costs from its restructuring. Revenue for the year will be below market expectations, it cautions. For the first half of 2022, revenue rises 54% to €6.6 million from €4.3 million a year earlier, though its pretax loss stretches to €1.6 million from €1.5 million.
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Vela Technologies PLC, down 20% at 0.021p, 12-month range 0.020p-3.99p. The investment firm, focus on early-stage technology companies, swings to a loss of £1.1 million in its financial year that ended March 31, from a profit of £380,000 a year prior. Covid-19 curbs, the war in Ukraine, global interest rate hikes and supply chain worries have hit tech valuations, Vela noted.
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