The following stocks are the leading risers and fallers on AIM in London on Thursday.
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AIM - WINNERS
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Corero Network Security PLC, up 10% at 6.88 pence, 12-month range 5.5p-11.9p. The cybersecurity provider says trading in the first half of 2023 was in line with management expectations. It expects a 20% increase in revenue for the first six months of 2023 to $10.6 million from $8.8 million a year prior. The increase was driven by ‘number of important customer wins’ for its SmartWall distributed denial-of-service protection solutions. Expects to report interim adjusted earnings before interest, tax, depreciation and amortisation of $200,000, compared to none a year before. ‘The performance in H1 2023 gives us confidence for the full year as we continue to focus on delivering on our growth strategy,’ says Executive Chair Kens Montanana.
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AIM - LOSERS
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musicMagpie PLC, down 14% at 16.13p, 12-month range 5.15p-55p. The consumer goods reseller shares a disappointing set of interim results, as revenue in the six months to May 31 falls by 13% to £61.9 million from £71.3 million a year before. Pretax loss widens to £3.2 million from £1.0 million. The results were largely due to a ‘challenging’ first quarter, with improvement seen in the second quarter. ‘Despite the tough consumer environment, we expect consumers to increasingly look to the refurbished tech market and are confident that the business has the right strategy in place for future profit growth,’ says CEO Steve Oliver.
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Ilika PLC, down 13% at 31p, 12-month range 22.5p-95p. The solid-state battery technology company reports wider pretax loss for the year ended April 30 at £8.9 million, compared to £8.1 million a year before. Reports turnover of £702,018, up from £496,103, comprised of revenue of £33,848, up 9.6% from £30,878 a year ago, as well as UK grants. Administrative costs climb to £9.0 million from £8.0 million, despite lower direct research & development spend. It cites inflation and higher staff costs due to rising headcount.
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