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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Kropz PLC, up 14% at 2.00 pence, 12-month range 1.25-8.00p. On Thursday, the South Africa-focused phosphate producer and developer said it narrowed its pretax loss significantly to $4.0 million in the first half of 2023 from $61.0 million the year prior. It recorded $14.1 million in revenue, compared to none a year prior. ‘With the unexpected record rainfall experienced in the Western Cape the mining plan was amended to consider higher rainfall in winter periods to minimise the effects of wet mining conditions,’ the company noted. Looking ahead, Kropz expects to stay in operational existence until at least December next year.
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Zanaga Iron Ore Co Ltd, up 13% at 5.15 pence, 12-month range 1.70-18.90p. The Republic of Congo-focused iron ore exploration and development company reports a pretax loss of $350,000 in the first half of 2023, narrowed from $526,000 the previous year. Chair Clifford Elphick notes that during the half-year, the company launched a process with an unnamed Chinese iron ore technical expert engineering firm to secure Chinese contractor pricing and to update the cost estimates of the 30 million tonnes per year feasibility study, while also considering the application of new iron ore processing technology to reduce estimated costs further. Looks forward to concluding the process by the year-end. Adds that following the full ownership of the Zanaga project it is now engaging with entities interested in participating in the project. Intends on securing a selected partner by the end of the first quarter of 2024.
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AIM - LOSERS
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Bidstack Group PLC, down 46% at 0.34 pence, 12-month range 0.30-3.90p. The in-game advertising company reports a pretax loss of £5.3 million in the first half of 2023, widened significantly from a loss of £3.7 million the year prior. Revenue remains broadly stable at £2.0 million. Loss comes as the company records a sharp rise in administrative expenses, which jump to £6.0 million from £3.8 million the year prior. Margin worsens to 25.9% from 39.9%. Looking forward, Bidstack expects that full-year revenue will fall ‘significantly’ short of previous market expectations. Adds that earnings before interest, tax, depreciation and amortisation should be ‘broadly’ in line, however. Separately, Bidstack enters into non-binding heads of terms in regard to a proposed commercial partnership with Virtual Sport Technology Ltd, a sports marketing agency, for a multi-year licensing agreement. Expects to sign a definitive agreement as soon as possible. Company also announces that Chief Operating Officer Camila Franklin has decided to step down from her role with immediate effect.
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MobilityOne Ltd, down 28% at 4.50 pence, 12-month range 3.50-15.40p. The e-commerce infrastructure payment solutions and platform provider reports a steep drop in pretax profit in the first half of 2023. Pretax profit plunges to just £5,914 from £522,561 the previous year. Says this was mainly due to a reduction in gross profit margin which fell to 5.08% from 5.52%, as well as higher costs. Cost of sales climb to £115.4 million from £107.1 million, while administration expenses rise to £5.9 million from £5.5 million. More positively, revenue ticks up to £121.5 million from £113.4 million. Says it is ‘cautious’ on the outlook for the remainder of the year due rising interest rates and expenses. Separately, company announces that its wholly-owned operating subsidiary in Malaysia, MobilityOne Sdn Bhd, has entered into a share sale agreement with United Flagship Development Sdn Bhd to acquire a 49% equity interest in Sincere Acres Sdn Bhd for a total cash consideration of around £5.2 million. Sincere is an investment holding company with its sole business activity comprising of owning a 100% equity interest in Hati International Sdn Bhd. Hati is a healthcare information systems provider in Malaysia.
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