The following stocks are the leading risers and fallers on AIM in London on Friday.
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AIM - WINNERS
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MS International PLC, up 50% at 705 pence, 12-month range 206p-719p. The defence equipment manufacturer signs a £22.4 million contract with an unnamed ‘overseas’ customer to supply a number of land-based mobile gun systems. This marks the company’s first sales of its new gun system. The company aims to fulfil the contract ‘as soon as practicable.’ It adds that revenue from the contract is expected to be recognised during 2023.
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MC Mining Ltd, up 12% at 14.8p, 12-month range 3.06p-29.71p. The coal exploration, development and mining company signs an agreement to outsource its Vele colliery to Hlalethembeni Outsourcing Services Pty Ltd HOS. The Vele colliery, in the Thuli coalfield in South Africa, will be outsourced as the firm focuses on its flagship Makhado project. The contract will run on an exclusive basis for five years, with HOS targeting monthly production of 60,000 tonnes of saleable thermal coal.
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AIM - LOSERS
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Gfinity PLC, down 44% at 0.56p, 12-month range 0.55p-4.01p. The e-sports and gaming services firm reports disappointing annual results. For the financial year that ended on June 30, it says pretax loss widened to £4.2 million slightly from £4.1 million the year before, as revenue fell 7.0% to £5.3 million from £5.7 million. Looking ahead, says the e-sports and gaming sectors continue to grow, forming part of a systematic change in the media industry towards digital, streamed and gaming-related content.
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Online Blockchain PLC, down 23% at 11.52p, 12-month range 9.53p-47.92p. The blockchain research and development company swings to a annual loss, saying its major investment ADVFN PLC as suffering ‘a long period of uncertainty and change’. It records £107,000 in revenue in the year to June, up from £65,000 the year before. However, it swings to a pretax loss of £1.1 million from a profit of £25,000. This is mostly due to other administrative expenses of £948,000.
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