The following stocks are the leading risers and fallers on AIM in London on Wednesday.
----------
AIM - WINNERS
----------
GB Group PLC, up 22% at 635.00 pence, 12-month range 383.00p-976.00p. Confirms possible takeover offer from Chicago-based private equity firm GTCR LLC. ‘Any proposals received will be evaluated by the board of GB together with its adviser,’ GB says. Notes GTCR has until October 4 to make a firm offer or walk away.
----------
Coral Products PLC, up 7.4% at 14.50 pence, 12-month range 11.65p-20.00p. Swings to a pretax profit of £1.3 million compared to a loss of £316,000 a year prior, as the Manchester-based plastic manufacturer reports an ‘exceptionally productive’ year. Revenue grew 34% to £14.4 million from £10.7 million. The company looks into the future with optimism as it ‘continues with its strategic progress of increasing focus on value-added and innovative products,’ according to its Chair Joe Grimmond.
----------
AIM - LOSERS
----------
M&C Saatchi PLC, down 4.5% at 154.94 pence, 12-month range 140.00p-227.00p. Firm reports sharp drop in interim profit due to costs and challenges from a ‘prolonged hostile takeover process’. In the six months ended June 30, reports a pretax profit of £305,000, down 94% from a profit of £4.8 million the previous year. Revenue, however, rises to £221.7 million from £171.2 million while billings rise to £262.2 million from £230.5 million. Reaffirms previous full-year pretax profit forecasts of £41 million.
----------
Bluejay Mining PLC, down 7.0% at 5.88 pence, 12-month range 4.20p-12.86p. Completes its first exploration programme of 2022 at the Enonkoski nickel-copper-cobalt project in Finland as part of a joint venture with Rio Tinto PLC’s Exploration Finland Oy. As a result of the programme, decides to stop further exploration at Muhelampi in the near-term as interpretation of results suggest the mafic intrusion is too small to host any significant mineralisation.
----------
Copyright 2022 Alliance News Limited. All Rights Reserved.
