18th Dec 2024 10:35
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Wednesday.
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AIM - WINNERS
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Active Energy Group PLC, more than tripled at 0.215 pence, 12-month range 0.055p-1.835p. Restored to trading after issuing its interim results. The biofuel-focused energy developer, which is trying to monetise its CoalSwitch fuel, says that in the half year to June 30, its loss from continuing operations narrowed to USD1.0 million from USD2.2 million. Company remains non-revenue generating. Administrative expenses decreased to USD1.2 million from USD1.1 million. Company notes that in July its shareholders rejected proposals for a members' voluntary liquidation. In mid-October Zen Ventures Ltd loaned Active Energy GBP125,000; this was subsequently increased to GBP100,000. In accordance with the loan heads of terms Zen plans to appoint two new directors to the board before the annual general meeting in January. "After an uncertain year, the board have completed the audit of the accounts...We have used every effort over many years to commercially develop CoalSwitch and are frustrated that we could not achieve this," said Chief Executive Officer Michael Rowan. "The investment by Zen Ventures will allow the company to continue to seek to monetise its CoalSwitch assets and we thank them for their support in recent months."
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Hardide PLC, up 32% at 6.25p, 12-month range 4.35p-10.5p. The surface coating technology provider has signed a ten-year supply deal for the coating of cargo door components, with a "major customer in the aerospace sector". Says it is due to "largely" complete "customer-funded equipment modifications" in the first half of the financial year. Along with subsequent tooling and initial production volumes, Hardide expects this to add "at least" GBP500,000 approximately to full-year revenue. Based on the client's expected build rates, Hardide anticipates production revenue between GBP6 million and GBP8 million over the contract's timeframe. CEO Matt Hamblin comments that "this news helps underpin our forecasts for profitable growth in the current financial year and further demonstrates the role our technology can play in sectors requiring advanced surface treatment solutions".
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AIM - LOSERS
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Shoe Zone PLC, down 44% at 77.5p, 12-month range 77.5p-285p. Says it no longer intends to pay a final dividend for the year ended September 28. Anticipates at least GBP5.0 million in adjusted pretax profit for the year to September 27, 2025, down from its previous forecast of GBP10.0 million. Blames the reduced outlook on "very challenging trading conditions" in the financial year so far. Says: "Consumer confidence has weakened further following the government's budget...the company will also incur significant additional costs due to the increases in National Insurance and the National Living Wage. These additional costs have resulted in the planned closure of a number of stores that have now become unviable. The combination of the above will have a significant impact on our full year figures."
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By Emma Curzon, Alliance News reporter
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