7th Nov 2024 10:46
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Thursday.
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AIM - WINNERS
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DSW Capital PLC, up 7.6% at 71p, 12-month range 47p-71p. The legal services company says it will release its half-year results on November 25, and that the figures will be in line with management's expectations. Cheshire, England-based DSW notes that Mergers & Acquisitions activity "gradually improved across the period and gained momentum in September". Furthermore it since achieved an "outstanding performance" in October, "driven by exceptionally strong levels of M&A activity and completions ahead of the autumn budget", with this activity increasing fee income. It expects "subdued" M&A activity for November and December however, "as many transactions were brought forward to 'Beat the budget'". Raises its guidance for the year ending on January 31, now expecting adjusted pretax profit of GBP1.5 million, up from GBP500,000 for the prior year. Also expects total income of GBP4.7 million, up from last year's GBP2.4 million.
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Aptamer Group PLC, up 6.5% at 0.245p, 12-month range 0.205p-1.325p. Following its announcement on Wednesday that it has booked revenue contracts worth up to GBP1.2 million to be recognised throughout financial 2025, the York, England-based biotechnology firm has extended its agreement with an unnamed genetic medicines customer. The client has decided to progress to the final commercial development phase for Optimer delivery vehicles, for which Aptamer shipped test material to the customer in October. Aptamer says the client has validated the delivery vehicles' performance, and demonstrated Optimer binding to the target cells from a panel of animal species. Says this means the DVs "can can specifically target the required cell type, with the potential to be used as part of a precision therapy, which would deliver downstream licensing revenue for Aptamer". "These could enable new approaches to precise drug delivery across the field of genetic medicines whilst underpinning our business model with passive income from licensing," Chief Executive Officer Arron Tolley comments.
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AIM - LOSERS
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Fadel Partners Inc, down 19% at 87.5 pence, 12-month range 87.5p-144p. The New York-based media rights and royalty management software developer revises its full-year revenue forecast down to USD13.0 million, and expects an Ebitda loss of around USD4.0 million. Explains that it recently learned it had lost a "significant" RFP-based new customer opportunity, having expected to close the deal in the fourth quarter; an existing large Enterprise customer's "major" project has been delayed into 2025; and it has reduced its fourth-quarter service revenue forecast due to issues involving a publisher client. The client has agreed to pay all outstanding invoices and has committed to Fadel's multi-year project roadmap, but the negotiation "has resulted in a reduced estimate".
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By Emma Curzon, Alliance News reporter
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