The following stocks are the leading risers and fallers on AIM on Wednesday.
----------
AIM - WINNERS
----------
Cordel Group PLC, up 7.4% at 7.25 pence, 12-month range 3.16p-8p. The London-based AI platform provider for transport corridor analytics announces two new contracts. First is to process clearances for Aurizon Holdings Ltd, ‘Australia’s largest rail freight operator’. Second is with UK passenger train operator Southeastern, the trading name of SE Trains Ltd, ‘to help optimise the accessibility of new trains that they are working to procure’. These will form part of the ‘new or upgraded fleet’ Southeastern is developing to ‘support growing demand, provide better customer facilities and improve accessibility’. Chief Executive Officer John Davis says: ‘We are confident that our automated scanning and analysis will provide a compelling business case for Aurizon, while the Southeastern contract will demonstrate Cordel’s ability to provide measured outputs that are not currently available to new train designers and specifiers, extending our range of services.’
----------
AIM - LOSERS
----------
Biome Technologies PLC, down 13% at 5p, 12-month range 5p-130p. A Southampton, England-based developer of bioplastics. Says revenue for the nine months to September 30 has fallen 39% on-year to £3.2 million from £5.2 million. Third-quarter Bioplastics unit revenue has dropped 49% to £700,000 from £1.3 million the prior year, and for the nine months has fallen 38% to £2.7 million from £4.4 million. Says these revenue declines ‘were primarily due to continued production and regulatory difficulties at two of the division’s end customers which... has subdued revenues throughout 2024’. Company notes that the Bioplastics unit is continuing to resolve end-customer difficulties, and that it is encouraged by progress made in both its divisions to improve revenue run rates. Anticipates improvements to occur in 2025, as the first end customer is expected to complete formal certification in due course and the second has ‘overcome’ its regulatory difficulties. Nonetheless Biome now expects adjusted 2024 revenue ‘to be below current market expectations with a consequential impact on profitability’. Biome also announces that Chair John Standen will be stepping down from the board ‘in the reasonably near term’ after 17 years at the helm.
----------
Touchstone Exploration Inc, down 7.9% at 32p, 12-month range 29.5p-60p. The Trinidad & Tobago-focused oil exploration company says daily production averaged 5,211 barrels of oil equivalent per day, up 54% on-year from 3,391 boepd. For the nine months to September 30 it doubled to 5,883 boepd from 2,457 boepd. Realised petroleum and natural gas sales totalled $13.3 million for the quarter, up 13% on-year from $11.7 million. Net earnings rose 87% to $1.8 million from $988,000. However the realised commodity price decreased 26% to $27.65 per boe from $37.44 for the third quarter, and decreased 33% to $27.25 from $40.76 per boe for the nine months. For 2024, Touchstone expects average daily production of 5,600 to 6,200 boepd, down from previous guidance of 7,700 to 8.300 boepd. Also expects the average Brent crude oil price to reach $80.00 per barrel, down from previously forecast $82.00 per barrel.
----------
Copyright 2024 Alliance News Ltd. All Rights Reserved.
