The following stocks are the leading risers and fallers on AIM in London on Wednesday.
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AIM - WINNERS
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Ethernity Networks Ltd, more than double at 1.24 pence, 12-month range 0.21p-11.50p. On Tuesday, the supplier of data processing semiconductor technology for networking appliances said it is in discussions with 5G Innovation over share subscription issue. Ethernity no longer considers 5G Innovation’s $90,000 settlement notice pursuant to subscription agreement was issued validly, due to notification of an event of default. Ethernity is seeking to come to an agreed position on the treatment of the subscription while proceedings remain suspended.
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IG Design Group PLC, up 15% at 129.00p, 12-month range 69.40p-200.40p. The designer and manufacturer of celebrations products, including greetings cards, gift wrap, Christmas crackers, gift bags and partyware’s shares rise. IG Designs expects its full-year results to be in line with expectations. It says that in the six months ended September 30, it has made progress in improving operational efficiency and simplifying the business. These initiatives have resulted in significant growth in profit and margin for the period compared to the same period last year, it notes. Looking further ahead, IG Designs aims to return the company to pre-pandemic operating margins by the end of financial 2025.
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AIM - LOSERS
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RWS Holdings PLC, down 18% at 195.74p, 12-month range 180.00p-417.49p. The technology-enabled language services provider expects to report adjusted pretax profit for the year ended September 30 in line with market expectations. Says this is despite reported revenue for the year falling by about 2%. The latest group-compiled view of analysts’ expectations for financial 2023 gives a range of £738.1 million to £757.4 million for revenue, and £116.5 million to £129.0 million for adjusted pretax profit. In financial 2022, RWS reported revenue of £749.2 million and adjusted pretax profit of £135.7 million. ‘Despite the ongoing challenges in our some of our markets, we are successfully pivoting into higher growth segments, continuing to invest to develop our AI-centred technology solutions, building on our strong acquisition track record and transforming the Group into a scalable platform which will support organic and inorganic growth,’ says Chief Executive Ian El-Mokadem.
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