Source - Alliance News

The following stocks are the leading risers and fallers on AIM in London on Thursday.

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AIM - WINNERS

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Engage XR Holdings PLC, up 12% at 14.04 pence, 12-month range 9.30p-20.00p. The virtual communications services provider signs a renewed contract with D'Carrick Co Ltd for three years worth €800,000. In addition, Engage XR says that shareholder HTC and the Virtual Human Interaction Lab at Stanford University, California have been confirmed as launch partners for Engage XR's metaverse offering known as Engage Link, which is on-track to be launched in the fourth quarter of 2022.

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Bango PLC, up 12% at 141.45p, 12-month range 125.00p-230.0p. The mobile commerce company signs an agreement with an unnamed ‘leading, multinational technology company’. Under the terms of the deal, the new partner will use the Bango platform to provide carrier billing and bundling services for its app store payments and subscription services, Bango says. No financial details of the contract are disclosed. Bango says it does not expect the agreement to alter its expectations for financial year 2022, but it will review its potential impact in financial year 2023 and onwards.

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AIM - LOSERS

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Naked Wines PLC, down 38% at 178.90p, 12-month range 173.20p-895.00p. Shares in wine retailer hit 12-month low after Naked Wine warns it expects little sales progress in the year ahead. In its financial year that ended March 28, the Norwich-based firm posts a pretax profit of £2.9 million, versus a loss of £10.7 million in financial 2021. Looking ahead, for its current financial year 2023, Naked Wines expects group sales in the range of £345 million to £375 million, down 4% in the worst and up 4% in the best scenario on financial year 2022. The retailer declares no annual dividend, unchanged from a year ago.

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Tandem Group PLC, down 14% at 257.60p, 12-month range 245.10p-680.00p. Shares in sports product distributor hit 12-month low after reporting ‘challenging’ trading in the 24 weeks to June 2022 as sales and demand across its divisions fall. Tandem says trading in the period is 31% behind the previous year. It explains that both national retailer and independent bicycle sales are disappointing, with turnover 55% behind that of the same 24-week period a year prior. During the height of the pandemic, the company benefits from ‘unprecedented’ demand. This demand has since diminished, leaving Tandem with high stock levels against a backdrop of ‘overstocked’ customers.

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