The following stocks are the leading risers and fallers on AIM on Tuesday.
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AIM - WINNERS
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Warpaint London PLC, up 9.8% at 566.80 pence, 12-month range 280.00p-650.00p. The colour cosmetics supplier, that owns W7 and Technic brands, reports earnings growth for the first six months to 2024. Revenue rises by a quarter to £45.8 million from £36.7 million a year prior. Pretax profit increases 76% to £10.8 million from £6.2 million. Chief Executive Sam Bazini says: ‘There continues to be significant growth opportunities for Warpaint, and the group is very well positioned to achieve further growth with additional improvement in margins. As in previous years, the group’s sales are expected to be second half weighted, reflecting Christmas seasonal sales and ongoing sales momentum. We anticipate updating further on trading later in the year, and with significant opportunities for continued growth, both already secured with our existing retailers and in discussion with additional major retailers globally, I am confident that the group will continue to perform well for the remainder of the year and beyond.’
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MediaZest PLC, up 9.2% at 0.082p, 12-month range 0.032p-0.12p. The audio-visual solutions firm says it has secured £500,000 of new business over the past two months with existing customers. It adds: ‘While new orders continued in August, largely driven by one of the company’s car manufacturing clients, over 80% of the £500,000 total has come from orders booked in the first half of September. Some of these orders will be delivered in Q4 FY2024, while others will be realised in financial year 2025. These orders include a range of continued digital signage programmes with long-term clients and new projects for new clients. Many of these projects are predominantly UK-based however MediaZest also continues to generate significant revenues with installs across the globe with its partners. As a result of these additional orders, MediaZest remains on track to deliver year-on-year organic revenue growth and continues to target a return to profitability.’
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Wishbone Gold PLC, up 3.5% at 0.60p, 12-month range 0.45p-2.90p. The precious metals exploration company reports additional exploration findings at its Red Setter prospect in Western Australia. Findings ‘reinforce’ belief the asset gas a 3 kilometre strike ‘with impressive gold grades near surface’. Chair Richard Poulden adds: ‘This data provides a key insight in advance of the next stage of the diamond drill programme at the site. If this then confirms what we expect and enables us to potentially have an open pit mine combined with a large underground deposit, it would be transformational and an amazing outcome for the company.’
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AIM - LOSERS
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Avacta Group PLC, down 16% at 59.00p, 12-month range 39.50p-166.98p. Deutsche Bank cuts the stock to ’sell’ from ’hold’ as it is underwhelmed by trial results. The life sciences company on Monday reported data on its AVA6000 cancer drug. ‘Data show that of 57 patients treated with increasing doses of AVA6000, three have shown a partial response and six have shown a minor response,’ Deutsche summarised. ‘We do not believe these rates of response are competitive relative to either standard of care or emerging therapies and so move back to sell.’
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Next 15 Group PLC, down 5.0% at 461.77p, 12-month range 390.00p-1,052.00p. It reports a slight decrease in half-year revenue and kept its interim dividend unchanged, two weeks after a major customer declined to renew its contract. The London-based public relations agency says revenue decreases 0.2% to £364.1 million in the six months to July 31, from £364.9 million for the same period in 2023. Pretax profit increases 37% to £33.4 million from £24.3 million. Next 15 also declares an interim dividend of 4.75p per share, unchanged from the year before. The company says its ‘mixed performance’ was ‘largely driven by a continued weakness in spend from our technology customers’.
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