12th Jul 2024 10:08
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Friday.
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AIM - WINNERS
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System1 Group PLC, up 10% at 753.60 pence, 12-month range 160.00p-770.00p. The owner of a marketing decision-making platform hails a strong US performance as it reported buoyant growth in first-quarter revenue. System1 says revenue in the first quarter of the financial year to March 31 was GBP9.2 million, up 53% from GBP6.2 million a year prior. Platform revenue climbs 74% to GBP8.6 million from GBP4.9 million a year ago. Non-platform revenue falls 30%, in line with company expectations, to GBP900,000 from GBP1.3 million. Chief Executive James Gregory says: "Customer demand was exceptionally strong in the first quarter, somewhat ahead of our own expectation. It's early in the year but this strong first quarter performance puts us firmly on track for sustainable growth and to achieve our full-year expectations."
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Premier Miton Group PLC, up 5.8% at 70.88p, 12-month range 48.10p-83.00p. The asset management firm says assets under management as at June 30 rose 8.2% to GBP10.6 billion from GBP9.8 billion at September 30, 2023. Chief Executive Officer Mike O'Shea says: "We have seen an improvement in the outlook for fund sales during the quarter. It is pleasing to note that we have seen continued demand for our fixed income funds as well as a more recent improvement in the flow position for our international equity funds. Demand for UK equities remains subdued despite the strong relative performance of the asset class. In total, we experienced net positive flows across our fixed income and equity funds during the quarter."
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AIM - LOSERS
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Cadence Minerals PLC, down 8.9% at 2.78p, 12-month range 2.60p-9.00p. The investment and development company raises GBP625,000 through placing of 25.0 million new shares priced at 2.5p each. In addition, Directors Andrew Suckling, Kiran Morzaria, and Donald Strang have agreed to subscribe to 5.0 million shares at the issue price, raising GBP125,000. The proceeds will be used to fund Cadence's investment in the Amapa Iron Ore Project in Brazil.
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By Sophie Rose, Alliance News senior reporter
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