6th Aug 2024 10:52
(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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YouGov PLC, up 17% at 515.07 pence, 12-month range 402.63p-1,240.00p. The market research and data analytics company reports that financial 2024 results are expected to be slightly ahead of revised guidance. Revenue is expected to be between GBP327 million and GBP330 million, up from GBP258.3 million in financial 2023. Adjusted operating profit is expected to be between GBP43 million and GBP46 million, down from GBP48.3 million in financial 2023. The results are better than guidance released in June. "Our Research division saw strong growth in Custom Research, offset in part by declines in Data Services as expected, resulting in the division recording mid-single-digit growth on an underlying basis for the full year. The CPS business is continuing to perform well, in line with expectations and the integration is progressing well. Revenue in our Data Products division was in line with the prior year on an underlying basis, given stable renewal rates and the addition of several new client wins, and we expect to return to growth through a focussed sales approach in FY25," YouGov explains. Separately, the company announces the acquisition of Yabble, a New Zealand-based company focused on the use of generative AI to deliver audience insights. The company has 13 employees and has been developing generative AI-powered tools for the research industry since 2019. YouGov CEO Steve Hatch says: "Generative AI is transforming the insight landscape and with the acquisition of Yabble, YouGov is strongly positioned to take advantage of this change."
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AIM - LOSERS
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Orchard Funding Group PLC, down 32% at 21.90p, 12-month range 14.00p-41.68p. The supplier of funding support to insurance brokers and professional firms says that its largest customer Nukula, trading as "Insure That" has gone into administration. At June 30, lending to Insure That's customers comprised GBP16.7 million to around 80,000 customers. "The company is assessing the impact of the administration of 'Insure That' on its ability to collect in the lending made by Orchard to Insure That's customers," Orchard says.
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By Sophie Rose, Alliance News senior reporter
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