26th Mar 2024 10:43
(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.
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AIM - WINNERS
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Zoo Digital Group PLC, up 28% at 28.25 pence, 12-month range 21.35p-205.00p. The provider of end-to-end cloud-based localisation and media services to the global entertainment industry says it has received further clarity on the timing of its projects, following its trading statement in late January. It is now receiving orders relating to work on feature films and TV shows that have been completed following the industry strikes of 2023 that brought productions to a halt. "With January invoicing the highest month since April 2023, the company is beginning to see an acceleration of its pipeline with work expanding in March and April 2024," Zoo Digital says. As a result, it expects to beat revised market guidance for its annual results with revenue of at least USD40 million, but anticipates adjusted earnings before interest, tax, depreciation and amortisation will be reduced. In the year ended March 31, 2023, Zoo Digital posted USD90.3 million in revenue. Zoo Digital says it has now secured improved visibility of work, with some extending until September 2024, with its order book for the first quarter of its financial 2025 up 30% on-year.
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Crossword Cybersecurity PLC, up 18% at 5p, 12-month range 3.75p-10.75p. The London-based cybersecurity solutions provider launches a new CyberAI practice, which sits within its Consulting business and "consolidates Crossword's artificial intelligence into a centre of excellence that will deliver AI-focused cybersecurity consulting services and products to help clients harness the power of AI in the organisation." Consulting Innovation Director James Henry comments: "The latest wave of AI technologies hit the security industry with such pace that many businesses have been struggling to keep up. At Crossword it is our mission to provide businesses with the knowledge and tools needed to securely embrace the benefits of generative AI technologies, whilst also managing the associated risks."
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AIM - LOSERS
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Revolution Bars Group PLC, down 43% at 1.65p, 12-month range 1.25p-8.30p. The Manchester-based bar group, which operates the brands Revolution and Revolucion de Cuba, says it is mulling its options, including a possible sale of the company, as it fights with tricky market conditions. It says it will embark on a restructuring plan and will consider the sale of all or part of the business, although notes that no such talks or approach from an offerer have occurred yet. However, Revolution Bars confirms that it is currently in discussions with key shareholders and other investors, including Luke Johnson, over possible fundraising. This follows an announcement in January that eight of the least profitable locations were to be closed. Chief Executive Officer Rob Pitcher said in January that younger customers were "still feeling the disproportionate effect of the cost-of-living crisis". Sky News late Monday reported that secret plans were being drawn up by Revolution Bars to axe 20 of its worst performing bars. This would result in job cuts. Sky News also noted that Revolution Bars was scoping investor interest for a possible GBP10 million cash raise, more than double its current market value.
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By Greg Rosenvinge, Alliance News senior reporter
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