The following stocks are the leading risers and fallers on AIM on Thursday.
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AIM - WINNERS
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Sabien Technology Group PLC, up 22% at 12.5 pence, 12-month range 7.25p-13.75p. The energy reduction technology provider announces that the first US deployment of City Oil Field technology will be in Phoenix, Arizona. Phoenix’s city council approved the project at a meeting on Thursday. Sabien says its associate company b.grn Group Ltd has signed a non-binding letter of intent to lease the land from the developer appointed by the City of Phoenix and install a City Oil Field Regenerated Green Oil plant. Phase 1 of the project consists of a maximum five-year ground lease allowing for two research and development pilots, which Sabien says will divert waste from landfill and generate revenue for phase 2. Phase 2 will extend the lease to up to 99 years, expanding the land from the original 2.5 acres to 22 acres.
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Jaywing PLC, up 19% at 1.6p, 12-month range 1.35p-3.9p. Provides a positive outlook despite reporting a wider interim loss. Revenue for the six months to September 30 falls 15% to £9.5 million from £11.1 million the year before, ‘driven almost entirely by a weak first half performance in UK Risk Consultancy’. Pretax loss widens to £2.4 million from £1.4 million. Basis loss per share widens to 2.72p from 1.81p. However, Jaywing expects investments in Australia and new business wins during the period across all divisions to deliver a stronger performance in the second half, ‘notwithstanding that business confidence in the UK is fragile’. Executive Chair David Beck says Jaywing’s cash position ‘remains tight’ and will probably stay that way this year. However: ‘If the second half of the current financial year delivers, as we currently anticipate, we expect the business to become increasingly cash generative. Our new business pipelines and steps taken to rationalise the go-to-market strategy and cost base give cause for a degree of optimism.’
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PipeHawk PLC, up 13% at 2.55p, 12-month range 1.15p-9p. Says it has made a positive start to the current year ending June 30, ‘underpinning management’s cautious projection of a return to operating profitability’. The Aldershot, England-based engineering solution provider expects first-half revenue to be ‘significantly ahead’ of the first half of financial 2024, which totalled £1.1 million excluding subsidiary QM Systems Ltd, which entered administration in July. Also expects a net breakeven consolidated result for the first half. Reports strong performances for Thomson Engineering Design Ltd and Adien Ltd, but says Utsi Electronics Ltd ‘continues to be adversely affected’ by global political instability.
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AIM - LOSERS
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FIH Group PLC, down 10% at 215p, 12-month range 205p-275p. The specialist services group says revenue falls 32% to £18.2 million in the six months ended September 30 from £26.7 million. Blames this on ‘a combination of factors which have severely impacted the trading performance of Falkland Building Services, the construction division of Falkland Islands Co’. FIH swings to a pretax loss of £6.1 million, following the previous year’s £822,000 profit. Company says that Momart and Portsmouth Harbour Ferry Co have performed ‘in line with or slightly above prior year’ but this is ‘overshadowed’ by the issues facing Falkland Building Services. However, FIH is keeping the interim dividend unchanged annually at 1.25p per share, ‘reflecting confidence in the longer-term trading outlook’.
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