The following stocks are the leading risers and fallers on AIM in London on Wednesday.
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AIM - WINNERS
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MediaZest PLC, up 28% at 0.058 pence, 12-month range 0.040p-0.090p. The audiovisual services firm says progress in the second half of the year to September 30 ‘has been promising’. It hails ‘significant new business wins with both new and existing clients’. MediaZest adds: ‘The board remains confident that the outlook for the second half of the financial year is encouraging and expects to report improved financial results relating to the period in due course.’
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Cohort PLC, up 9.7% at 488.50p, 12-month range 384.00p-570.00p. The company says revenue in the year ended April 30 jumps by a third to £182.7 million from £137.8 million. Cohort, a technology company serving defence and security sectors, reports pretax profit of £13.9 million, up 36% from £10.2 million. Cohort lifts its final dividend by 9.6% to 9.15p per share from 8.35p. The total dividend amounts to 13.40p, up 9.8% from 12.2p.
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AIM - LOSERS
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Watkin Jones PLC, down 35% at 49.85p, 12-month range 41.50p-230.00p. The London-based student accommodation developer’s Chief Executive Officer Richard Simpson steps down. Watkin Jones calls on Chief Investment Officer Alex Pease to take over on an interim basis immediately, while the firm finds a permanent replacement. Watkin Jones also has reviewed its balance sheet and expects to book a £10 million impairment charge, as it reassess the carrying value of certain assets. Tricky market conditions seen so far in the 12 months ending September 30 are to continue into the new financial year, it warns. Watkin Jones expects underlying profit before interest and tax in the new year to amount to between £15 million and £20 million. It also expects to up its exceptional provision for building remedial work by an extra £30 million to £35million.
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