1st Oct 2024 11:45
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Tuesday.
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AIM - WINNERS
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Tavistock Investments PLC, up 58% at 3.40 pence, 12-month range 2.00p-6.00p. The Ascot, Berkshire-based financial advice and investment management firm enters agreement for sale of two subsidiary businesses, Tavistock Partners Ltd, and Tavistock Estate Planning Services Ltd. The businesses will be sold to Saltus Partnership Holdings LLP for a cash consideration of up to GBP37.8 million. Follows annual report on Monday for the year ended March 31, when Tavistock reported a pretax loss of GBP1.3 million, narrowed from GBP1.6 million a year prior. Revenue was GBP39.5 million, up from GBP34.0 million the year before, while full-year adjusted earnings before interest, tax, depreciation and amortisation came to GBP2.2 million, up from GBP140,000 and the highest Ebitda to date.
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AIM - LOSERS
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ECO Animal Health Group PLC, down 20% at 77.70p, 12-month range 70.00p-135.00p. The London-based biotechnology firm, which specialises in animal health, announces an update on its trading for the six months ending September 30. Says Aivlosin continues to gain market share in key territories, particularly Brazil and India, with revenue in these regions exceeding the board's expectations. However, the company is encountering challenges in China, due to low disease incidence in the summer months, and in Southeast Asia, where sales have slowed reflecting some customer churn. Due to recent challenges in these areas, revenue for the whole year is expected to be "materially below" expectations. The board expects that adjusted Ebitda for financial 2025 will be in the region of that observed in financial 2023.
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By Holly Beveridge, Alliance News senior reporter
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