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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Cavendish Financial PLC, up 29% at 11.20 pence, 12-month range 5.80p-13.44p. The stockbroker, created by the merger of finnCap Group and Cenkos Securities, says it saw ‘significant growth’ in the second half to March 31, with revenue jumping 77% to £34.5 million from the pro-forma first-half revenue of £19.5 million. Revenue for the full-year is expected to rise 44% to £47.5 million from £32.9 million. Pro-forma revenue of £54 million is expected, rising from £50.5 million. The pro-forma calculations are made adding the revenue of finnCap and Cenkos as if they were consolidated fully during that time.
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Gelion PLC, up 31% at 20.00 pence, 12-month range 14.00p-39.70p. The firm says it achieved a milestone with its lithium-sulphur battery development, increasing its energy density by around 60%. The London-based battery technology company said this was by fabricating a 395 watt-hour per kilogram lithium-sulphur 9.5 ampere-hour pouch cell in a commercial cell format. Gelion said the energy density increase is compared with current lithium-ion batteries, which provide around 250 watt-hours per kilogram. ‘Achievement of this milestone represents a key technology proof point for Gelion. By re-establishing this performance, building on the Oxis Gen 2 technology and [intellectual property] acquired from Johnson Matthey. The company has set a new benchmark against which to compare upcoming ’next generation’ cell which targets further performance improvements upon this announced result,’ Gelion said.
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AIM - LOSERS
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Cirata PLC, down 25% at 45.36p, 12-month range 44.00p-129.00p. The data analysis platform, formerly known as WANdisco, reports a decline in revenue and bemoans a ‘seemingly endless series of ’whack-a-mole’ challenges’ following last year’s possible fraud saga. Cirata says revenue in 2023 falls 31% to $6.70 billion from $9.69 billion. Its pretax loss widens to $36.5 million from $29.6 million. ‘As I reflect on the past year, it is clear that we have navigated through the most challenging period in our company’s history,’ Chief Executive Officer Stephen Kelly says. The company adds last year’s events required ‘continuous firefighting’. The company almost collapsed in 2023 after the discovery of illegitimate purchase orders. As part of its effort to move on, WANdisco changed its name to Cirata in early October. Cirata noted that it had been placed under ’watchlist’ by some customers in March of last year, ‘leading to a pause in activities and the then embryonic sales pipeline coming to a standstill’.
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