29th Jan 2024 09:59
(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.
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AIM - WINNERS
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Surgical Innovations Group PLC, up 15% at 0.69 pence, 12-month range 0.50p-2.35p. The surgical and medical instrument manufacturer says revenue in 2023 is expected to be approximately GBP12.0 million, an increase of 6.2% compared with GBP11.3 million in 2022. It says that group revenue continued to grow in the second half of the year, in line with the board's expectations. Sales for the second half of the year were about 13% higher than the first half. Chief Executive David Marsh says: "Despite a challenging 2023, the company finished the year with record sales and entered 2024 with an encouraging order book. The recent actions taken to improve operational efficiencies, together with continued increasing sales momentum, give the board confidence that we have put the business onto a sustainable growth trajectory for 2024 and beyond."
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PipeHawk PLC, up 9.2% at 8.74p, 12-month range 7.13p-15.00p. Shares in the provider of technology for highways and for the automotive, rail and aerospace industries fall. It says that its subsidiary QM Systems has signed a contract with Stannah UK Ltd to deliver a bespoke fully automated welding system. The project, which is due to be delivered in nine months, will generate revenue of GBP700,000. Chair Gordon Watt says: "This is fantastic news and further cements QM's growth of its automated robotic welding division. This business really does continue to go from strength to strength. QM has been working with Stannah for a number of months to develop a solution to a challenging automated welding requirement. By adopting a collaborative approach, Stannah and QM have developed a technical solution that provides Stannah with the bespoke fully automated solution it requires."
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AIM - LOSERS
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Inspecs Group PLC, down 27% at 63.00p, 12-month range 60.04p-134.94p. The eyewear company says for 2023, it expects to report revenue of GBP200.3 million, down from GBP201.3 million a year earlier. It says that this was below company expectations, due to "softer" trading in December. CEO Richard Peck says: "Whilst our revenue performance was affected by a soft market in December, I am encouraged that our focus on operational efficiencies in 2024 delivered an improvement in our margins. The group has also reduced its net debt while investing in significant additional manufacturing capacity for the future, with our new Vietnam facility coming onstream in H1 2024."
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By Sophie Rose, Alliance News senior reporter
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