6th Jan 2025 11:07
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Monday.
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AIM - WINNERS
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Hercules Site Services PLC, up 4.8% at 44.00 pence, 12-month range 23.00p-52.40p. The labour supplier for the UK infrastructure and construction sectors says it will divest its suction excavator business. The arm amounted to less than 5% of group revenue in the year to September 30, but 88% of consolidated debt excluding invoice discounting. "Therefore, the proposed divestment will materially reduce debt levels and increase the group's free cash flow. The proposed divestment will enable the group to dedicate greater resources to deliver on its strategy to capitalise on the continued high-growth opportunities available to Hercules' core labour supply business as the UK continues to carry out a series of substantial construction and infrastructure upgrades," it adds.
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AIM - LOSERS
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Arrow Exploration Corp, down 9.6% at 23.95p, 12-month range 17.00p-33.50p. The oil exploration company says the AB-1 well is now in production. The average initial output rate was 658 barrels of oil per day. Early output results are "in line with expectations", it says. The firm, with a portfolio of assets across key Colombian hydrocarbon basins, also adds the AB-2 well has reached target depth.
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Engage XR Holdings PLC, down 8.3% at 0.55p, 12-month range 0.50p-4.00p. Engage XR warns revenue will come in below market expectations, due to delays in finalising some larger Middle East pacts. The virtual reality technology company expects to report 2024 revenue of EUR3.4 million, down from EUR3.7 million in 2023, and below market expectations. This is due to "delays in finalisation of some larger contracts in the Middle East and the continued delayed deployment of the previously announced contract with a Middle Eastern client". Its loss before interest, tax, depreciation and amortisation is expected to be EUR4.0 million, unmoved on-year. It adds: "Looking ahead, the group anticipates significant growth opportunities through working with partners in the Middle East throughout 2025 and beyond in both education and training verticals. The group's strong pipeline is evidence of the progress being made with partners in the Middle East and in the USA."
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By Eric Cunha, Alliance News news editor
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