Source - Alliance News

The following stocks are the leading risers and fallers on AIM on Monday.

----------

AIM - WINNERS

----------

CT Automotive Group PLC, up 3.5% at 60.00 pence, 12-month range 37.00p-85.00p. The firm says trading in 2024 has gone ‘as planned’ so far. The maker of interior components to the automotive industry said demand was as expected over the first half of the year, noting some ‘volume moderation’. ‘The board anticipates this effect to be partially offset in the second half of the year by additional volumes from new programme launches with a number of Tier 1 and original equipment manufacturer customers, including Ford, Marelli and Rivian, which commenced production in [the second-quarter],’ CT Automotive says. For the full-year, it expects a gross margin improvement from the 22% achieved in 2023. CEO Simon Phillips adds: ‘2024 is proceeding as planned and we have good visibility over production demand into the medium term. We see significant scope for expansion in all three of our production centres in China, Mexico and Turkey through a combination of potential new business wins and growth with existing customers. Combined with the margin improvements ongoing, the outlook for revenues and profit for 2025 and beyond is positive.’ It will report half-year results in ‘late September’.

----------

Huddled Group PLC, up 2.5% at 2.92 pence, 12-month range 2.00p-4.50p. The investor in e-commerce brands says monthly revenue pushed above the £1 million threshold for the first time last time. Total revenue in the second quarter improves 30% to £2.8 million from £2.1 million in the first quarter. ‘We are excited as to the growth potential of group and believe our model and strategy will, in time, create a sizeable and profitable business. We believe we have demonstrated there is demand for big brand products at value, along with a growing recognition of the environmental impact of surplus consumer goods going to waste. With our broad offering of products, we can see the uptake to purchase is not only reassuring but also recurring due to the nature of our consumable product mix,’ Huddled says.

----------

AIM - LOSERS

----------

Trakm8 Holdings PLC, down 17% at 7.04p, 12-month range 6.26p-18.00p. The fleet management software and data provider reports weaker yearly results and warns of an ‘uncertain’ new year. It says revenue in the year to March 31 falls 20% to £16.1 million from £20.2 million. Its pretax loss stretches to £1.5 million from £1.2 million. Looking ahead, it warns the insurance market recovery is ‘slower than anticipated with capacity and pricing challenges continuing for some customers’. It is confident earnings in financial 2025 will improve, but the insurance market recovery means it is still ‘uncertain’. For the insurance sector, Trakm8 produces telematics devices, which have the ability to track vehicle driver behaviour.

----------

Copyright 2024 Alliance News Ltd. All Rights Reserved.

Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account. AJ Bell logo

Related Charts

Huddled Group PLC (HUD)

+0.15p (+4.84%)
delayed 15:57PM

Ct Automotive Group PLC (CTA)

-1.50p (-2.61%)
delayed 15:57PM

Trakm8 Holdings PLC (TRAK)

0p (0.00%)
delayed 15:57PM