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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Mothercare PLC, up 4.3% at 4.90 pence, 12-month range 3.50p-11.00p. The operator of a retail franchise focused on parents and young children says in the 26 weeks to September 23, pretax profit jumps to £2.0 million from £800,000. This came despite topline pressure. International retail sales by franchise partners fall 15% on-year to £137.2 million, from £162.1 million a year before. It reflects difficult trading conditions in the Middle East, the firm explains. Its turnover falls 25% to £29.0 million from £38.5 million, having seen a steady decline from £41.7 million and £44.4 million two and three prior respectively. ‘We are continuing with our efforts to refinance the group and remain in discussions with key stakeholders and financing partners to ensure that the group has adequate and appropriate financing for the future,’ says Chair Clive Wiley.
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AIM - LOSERS
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Team17 Group PLC, down 40% at 190p, 12-month range 180p-490p. The indie video game and educational app developer Team17 warns of some of its titles underperforming and overspending on projects. It now expects full-year adjusted earnings before interest, tax, depreciation and amortisation of at least £28.5 million, including non-cash title impairments of up to £11.5 million. In 2022, it achieved an adjusted Ebitda of £48.8 million. Still, Team17 believes it is ‘well positioned with strong traction across its new release and back catalogue titles’ ahead of the Black Friday and Christmas trading periods. It now expects revenue in 2023 to be ‘modestly ahead’ of current market expectations. In 2022, Team17 generated revenue of £137.4 million. Following its update, German investment bank Berenberg cut the stock’s target price to 490p from 650p, but maintained its ’buy’ rating.
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RUA Life Sciences PLC, down 13% at 27.55p, 12-month range 11.13p-67p. The medical technology holding company focused on implantable biostable polyurethane Elast-Eon returns some of recents gains after publishing a trading update. In the six months to September 30, it notes revenue fell 28% year-on-year to £794,000 from £1.1 million. It chalks this up to a first-half weighting in the prior year, which it says has reversed in the current year. It notes October was a stronger month for Contract Manufacture, and it expects full order fulfilment by the end of November, with trading to be in line with budget and normal trading volumes to resume. Also notes pretax loss is expected to widen to £1.4 million from £1.1 million, owing to the lower revenue, but ‘costs remain tightly controlled’. However, the stock has surged 60% over the week, following Monday’s update detailing progress on various testing milestones and new deals.
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