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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Ethernity Networks Ltd, up 11% at 0.975 pence, 12-month range 0.20p-6.95p. The Lod, Israel-based supplier of data processing semiconductor technology for networking appliances reports a significant increase in its annual revenue, resulting in a narrowed loss for the company in 2023. Revenue rises 31% to $3.8 million in 2023 from $2.9 million the year before, despite market headwinds. This growth mainly comes from a US wireless broadband solution customer, Ethernity said. Pretax loss narrows to $6.4 million, from $8.0 million as a result. Looking ahead, Ethernity says it expects to secure new contracts for its Carrier Ethernet and PON technology, generating approximately $2.2 to $3 million in incremental non-recurring engineering revenue in 2024 on top of its established business.
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Novacyt SA, up 6.4% at 68.50p, 12-month range 35.80p-86.00p. The Paris-based biotechnology group focused on clinical diagnostics provides an update regarding its and subsidiary Primer Design Ltd’s legal proceedings against the UK Department of Health & Social Care. The trial hearing has been listed to begun on June 10 and finish on July 4. Novacyt expects the court to reserve judgment, meaning that the outcome will not be known on July 4. The court has listed the pre-trial review to be heard on April 30. The court will also hear an application for summary judgment in relation to one aspect of its claim, of which the DHSC is seeking judgment to be entered for the full value of its claim. Having taken legal advice, Novacyt says it considers this application to be very weak with low prospects of success, and is confident that the court will dismiss the application. Novacyt says it will announce the outcome of the application in ‘due course’.
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AIM - LOSERS
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Fonix Mobile PLC, down 3.1% at 232.50p, 12-month range 177.00p-295.00p. The mobile payments and messaging services for media, telecommunications and other enterprise clients says Founder & Non-Executive Director William Neale, Chief Executive Officer Robert Weisz and other shareholders sell 6.7 million shares at 225 pence, worth £15.0 million ‘in order to satisfy strong institutional demand’. This represents a 6.7% stake in Fonix and is 50% more than the planned sale of 4.4 million shares announced after the London market close on Thursday.
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