27th Feb 2024 10:58
(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.
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AIM - WINNERS
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Itim Group PLC, up 58% at 34 pence, 12-month range 18p-42p. The provider of software solutions to retail companies announces a "multi-million" pound omnichannel contract win with Quiz PLC, a clothing retailer. The contract, which will run for five years, is a "significant achievement" with Quiz being the first fashion retailer to implement Itim's end-to-end retail platform in addition to its new wholesale module. "This important contract demonstrates the breadth and depth of our platform and our ability to add value in the highly customer-centric fashion sector," says CEO Ali Athar. Shares in Quiz fall 2.3%.
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Itaconix PLC, up 29% at 165p, 12-month range 113p-324.89p. The maker sustainable plant-based polymer consumer products boasts record revenue of USD7.9 million in 2023, a 41% jump from USD5.6 million. Notes its compound annual growth rate has been 55% since 2018. CEO John Shaw says the growth is driven by new customer wins and an expanding base of recurring revenue from existing customers. "Our strong balance sheet is enabling us to target new customers and product innovation to underpin our growth objectives. With our commercial advancements and the development of new revenue opportunities, we are well placed to fulfil our strategy of becoming a large, profitable specialty ingredient company," Shaw adds.
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AIM - LOSERS
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United Oil & Gas PLC, down 38% at 0.218p, 12-month range 0.2p-2.2p. The oil and gas firms with assets in Jamaica and the UK raises GBP1.0 million via an oversubscribed placing of 457.5 million shares and 42.5 million subscription shares at 0.2p each - a 43% discount to Monday's closing price of 0.35p. Funds will be used to progress work in Jamaica and for administration costs.
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Brickability Group PLC, down 12% at 67.24p, 12-month range 41.06p-77p. The construction materials firm reports on the "challenging backdrop" which clouds its financial year ended March 31. Notes market volumes for bricks in the UK are significantly lower in the last twelve months, and its Bricks and Importing Divisions sales volumes reflect the market trend, with year-to-date revenue lagging the prior year. Notes "increasingly competitive" pricing amid the softer demand. Now guides for adjusted earnings before interest, tax, depreciation and amortisation towards the lower end of market expectations, citing a range of GBP44.8 to GBP47.2 million. Expects lower demand for Bricks and associated building products to persist, and trading conditions to remain challenging for longer than previously anticipated. "The short-term factors impacting our businesses are well publicised, however, we are very excited by some of the opportunities we are seeing in the market. We continue to make further progress on our strategy, which includes diversifying the group through differentiated product offerings and acquiring higher margin revenue streams, the benefits of which we are already seeing," says CEO Alan Simpson.
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By Elizabeth Winter, Alliance News deputy news editor
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