21st Aug 2024 10:31
(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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Rosslyn Data Technologies PLC, up 48% at 13.65 pence, 12-month range 8.75p-27.50p. The data management and analytics service provider says that it has won a new three-year contract with "one of the world's largest technology companies", which has a minimum revenue value of GBP2 million. In a separate trading update, the company says it estimates a loss before interest, tax, depreciation and amortisation of GBP3.3 million for the financial year that ended April 30, worse than GBP2.4 million a year prior but ahead of its own expectations. "The better-than-expected adjusted Ebitda performance reflects the board's strategic decision to prioritise sustainable growth and focus on the quality of revenues," it says. Rosslyn's total contract pipeline as at April 30 was GBP3.3 million, down 8.3% from GBP3.6 million a year prior.
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Alba Mineral Resources PLC, up 16% at 0.043p, 12-month range 0.025p-0.12p. The Northern Europe-focused mineral explorer reports on the progress of preparatory works for blasting at its 100% owned Clogau-St David's Gold Mine in north Wales. The remaining preparations for blasting of the Llechfraith target have now been completed, involving the installation of a ventilation system, with compressed air and water to service the planned operations, it says. Executive Chair George Frangeskides comments: "Since our last update, work has continued round the clock to prepare the Llechfraith target, our primary gold target at Clogau, for blasting. We are pleased to be entering the home straight now in those preparations and anticipate the first blast in the coming days."
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AIM - LOSERS
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Watkin Jones PLC, down 29% at 35.95p, 12-month range 30.00p-60.40p. Watkin Jones warns full-year profit will be lower than expected, reflecting slower market activity in the summer. This was "principally due to the continued uncertainty over the pace of interest rate cuts", the London-based student accommodation developer and manager says in a statement. "As such we believe it is now unlikely that we will close any further transactions before the financial year end," Watkin Jones adds. Watkin Jones says that, while results for the financial year to September 30 will be lower than previously anticipated, it is expected to show material improvement in financial 2024, with adjusted operating profit currently expected to be between GBP10 to GBP12 million compared to just GBP200,000 a year prior.
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By Sophie Rose, Alliance News senior reporter
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