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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Redcentric PLC, up 5.2% to 113.38 pence, 12-month range 100p-128p. The IT managed services provider rises on strong interim results, and a rosy outlook. In the six months to September 30, revenue rises to £61.5 million from £44.3 million, as pretax profit increases to £4.1 million from £3.0 million a year before. CEO Peter Brotherton says the period was ‘transformational’ for the business. The firm says its three new acquisitions will boost run rate revenue to £150 million from £90 million. ‘The outlook for organic growth is also favourable, with positive net new business achieved in each of the last six months to 30 November 2022,’ Brotherton adds.
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AIM - LOSERS
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Pantheon Resources PLC, down 14% at 83.86p, 12-month range 65.1p-153.2p. The oil explorer receives oil in place modelling from Schlumberger Ltd for its Alaska North Slope projects. The modelling estimates the reservoirs contain 17.8 billion barrels net oil in place, which is lower than the firm’s own estimates of 23 billion barrels of OIP. The firm notes the Schlumberger estimates are prepared based on project area basis, whereas its own estimates are based upon the project formations themselves.
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Allergy Therapeutics PLC, down 9.4% at 12p, 12-month range 12p-36p. The commercial biotechnology firm says it is reviewing ‘all funding options’ and managing its working capital. ‘Work is continuing on cost control and tight capital management following the impact of the pause in production,’ it says. Production was paused back in early October at its Freeman facility in Worthing, England to accelerate site improvements. More positively, the firm announces the first dosing in its phase III G306 trial looking at Grass Mata MPL, the firm’s short-course subcutaneous allergen-specific immunotherapy candidate for hayfever.
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