The following stocks are the leading risers and fallers on AIM in London on Tuesday.
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AIM - WINNERS
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Altitude Group PLC, up 21% at 40.50 pence, 12-month range 20.00p - 45.00p. The marketing software firm expects trading in the financial year ending March 31 to be ‘materially ahead’ of current market expectations, thanks to the strong performance it reported in November continuing into 2023. Altitude puts market consensus for financial 2023 at £16.5 million for revenue and at £1.5 million for adjusted earnings before interest, taxation, depreciation and amortization. This would be up from £11.9 million in revenue and £1.1 million in adjusted operating profit in financial 2022. Expects to experience further revenue and Ebitda growth through the remainder of calendar 2023 and in 2024. Increases its working capital facility to $1.5 million from $700,000.
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Facilities by ADF PLC, up 6.4% at 58.00 pence, 12-month range 41.18p - 83.00p. Expects full-year results to be in line with current market expectations thanks to high levels of fleet utilisation in the year. Revenue in 2022 is expected at £31.4 million, up from £27.7 million in 2021, and adjusted Ebitda is expected to be £7.9 million, up from £7.7 million the previous year. From 76 productions in the year, up from 39 in 2021, the company generates an average revenue value of £390,000 per production, down from £682,000 per production the year prior. Says the 2023 order book suggests a continuation of the positive trends seen in the second half of 2022, with larger productions with a higher revenue per job. Facilities by ADF provides serviced production facilities to the UK film and television industry.
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AIM - LOSERS
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Gfinity PLC, down 28% at 0.16 pence, 12-month range 0.15p - 3.60p. The e-sports firm conditionally raises £2 million, before expenses, through a placing and subscription. Company will issue 907.2 million shares in relation to the placing and 426.2 million shares in relation to the subscription at a issue price of 0.15 pence each. Issue price represents a 32% discount to Gfinity’s closing share price of 0.22p on Monday. Gfinity currently has a £2.0 million market cap.
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Bluejay Mining PLC, down 17% at 3.99 pence, 12-month range 3.66p - 11.26p. Chair Robert Edwards announces a project update following a strategic review of the multi-commodity mining exploration company’s portfolio. Says that, moving forward, some of the company’s lesser known, 100%-owned projects will be drilled this season. Says the Kangerluarsuk Zn-Pb-Ag project will receive ‘particular imminent focus’. Also announces a $6 million equity raise, with the first tranche of $2 million being used to fund a drilling programme at Kangerluarsuk in summer. The raise, at an initial price of 10p, is a staged share subscription by US institutional investor Towards Net Zero LLC.
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