The following stocks are the leading risers and fallers on AIM in London on Wednesday.
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AIM - WINNERS
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Mobile Tornado Group PLC, multiplies to 4.46 pence, 12-month range 0.70p-4.46p. The critical communications services provider surges to a 12-month high after it says it won a deal via its regional partner to supply a range of ‘cutting-edge’ technologies for an unnamed ‘prominent’ mobile network operator in the Middle East and Africa. No financial details are disclosed. Key features of the solutions being provided by Mobile Tornado include voice and video calls to ‘anywhere in the world at the push of a button’; lone worker support including real-time location tracking, emergency SOS alerts, device inactivity monitoring and ambient listening; alongside ‘significantly lower’ data usage than comparative solutions of around 300 megabytes per month. Mobile Tornado Executive Chair Jeremy Fenn comments: ‘We identified the Middle East as a crucial region for business development, and this new contract through our local partner provides us with a platform for expansion across multiple territories...This contract, in a key target market, is a testament to the changes we made early last year and the board looks forward to increasing sales momentum as 2024 develops.’
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Plant Health Care PLC, up 37% at 4.74p, 12-month range 3.20p-11.40p. The maker of biological, agricultural products says revenue in 2023 fell to $11.2 million from $11.8 million in 2022. In the first four months of 2024, however, revenue rises 72% to $4.3 million from $2.5 million a year earlier, boosted by sales to US distributors. Revenue outside the US grew by 23% in 2023. Loss before interest, tax, depreciation and amortisation in 2023 narrows to $2.8 million from $3.5 million in 2022, while it expects further improvement during 2024. Chief Executive Officer Jeff Tweedy comments: ‘As we grow the company’s profitable revenue, we are taking appropriate steps to control all discretionary costs and to live within our means, becoming cash positive on the earliest possible timescale.’
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AIM - LOSERS
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Alliance Pharma PLC, down 19% at 26.00p, 12-month range 25.18p-73.04p. The distributor of consumer healthcare brands and prescription medicines says CEO Peter Butterfield has decided to leave the company to pursue other business interests. Following a ‘comprehensive’ search process, it appoints Nick Sedgwick as new CEO, starting on Monday next week. Butterfield will remain with Alliance Pharma until June 30 to facilitate a ‘thorough’ handover. Butterfield joined the board in 2010 and became CEO in 2018. Alliance Pharma also notes that its 2023 results will not be published on Tuesday next week as its audit continues. It says that the details of its January trading update remain accurate.
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boohoo Group PLC, down 4.0% at 33.80p, 12-month range 27.77p-47.05p. The fast fashion firm says pretax loss in the financial year ended February 29 widened to £159.9 million from £90.7 million a year earlier, hurt by a 17% fall in revenue to £1.46 billion from £1.77 billion. boohoo says the decline in revenue was due to a focus on profitability and difficult market conditions. Looking ahead, boohoo says it is targeting gross merchandise value growth in the year ahead and continued improvement in adjusted earnings before interest, tax, depreciation and amortisation margin. It says it was confident of a 6% to 8% Ebitda margin target in the medium term, while it also says it is on track for £125 million in annualised cost savings for its financial 2025.
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