The following stocks are the leading risers and fallers on AIM in London on Friday.
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AIM - WINNERS
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Kinovo PLC, up 30% at 33.70 pence, 12-month range 8.50p-53.00p. In the year ended March 31, the London-based property services provider swings to a pretax profit of £2.8 million from a loss of £371,000 the previous year. Revenue surges 35% to £53.3 million from £39.4 million.
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Made Tech Group PLC, up 4.6% at 34.00 pence, 12-month range 22.00p-150.00. The digital transformation services provider to the public sector expects expects revenue for the year ended May to more than double year-on-year to £29.3 million from £13.3 million.
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AIM - LOSERS
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Strip Tinning Holdings PLC, down 26% at 71.88p, 12-month range 70.00p-200.00p. The Birmingham-based provider of electrical connectors for the automotive sector receives notice ‘purporting to terminate’ a pact with a Croatian electric vehicle technology firm. The contract was for the supply of cell management systems to a German manufacturer. The termination is with effect October 1. Notice was received by subsidiary Strip Tinning Ltd. ‘STL is in dialogue with the customer to better understand the rationale and legal basis of their decision as all STL milestone deliverables within the framework of the contract have been met to date, including the incorporation of substantial engineering changes at the request of the customer, which have been subject to re-pricing negotiations to ensure the contract remains profitable,’ it says
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Joules Group PLC, down 35% at 28.75p, 12-month range 19.41p-264.00p. Scorching hot weather hits sales of winter clothing, including ‘rainwear, knitwear, and wellies’. Trading over the five weeks to August 14 has ‘softened materially,’ it cautions. Margins have taken a hit and Joules now expects a ‘significant loss’ in its first half. It expects an improved second half, as it reaps the rewards of self-help work.
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