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AIM WINNERS & LOSERS: Inspecs confident but Scirocco eyes AIM exit

17th Apr 2024 10:50

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.

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AIM - WINNERS

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Inspecs Group PLC, up 8.5% at 51.00 pence, 12-month range 46.00p-139.94p. The eyewear company reports improved annual results and says it has "confidence" that it can achieve market expectations in 2024. It reports pretax profit of GBP200,000 for 2023, swinging from a loss of GBP7.7 million in 2022. Revenue increases by 1.1% to GBP203.3 million in 2023 from GBP201.0 million in 2022. Inspecs said it suffered a "disappointing end to 2023 and a slow start to 2024" but trends more recently has been encouraging.

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Serabi Gold PLC, up 8.1% at 63.23 pence, 12-month range 21.00p-71.00p. The Brazil-focused gold mining and development company produces 9,007 ounces of gold in the first quarter of the year, a 13% increase from 8,055. Serabi notes this is its highest quarterly total since 2021. The firm also reiterates its full year consolidated gold output guidance of between 38,000 to 40,000 ounces. For 2023 it had reported gold production of 33,153 ounces.

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AIM - LOSERS

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Scirocco Energy PLC, down 23% at 0.21p, 12-month range 0.15p-0.68p. The investment firm, focused on European sustainable energy assets, plots an exit from the AIM market. "The considerable cost and management time and the legal and regulatory burden associated with maintaining the company's admission to trading on AIM are, in the board's opinion, disproportionate to the benefits," it says. It expects the final day of trading of its shares to be May 16, before cancellation a day later.

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By Eric Cunha, Alliance News news editor

Comments and questions to [email protected]

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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