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(Alliance News) - 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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Zenova Group PLC, up 11% at 2.00 pence, 12-month range 1.40p-6.84p. The the fire safety product manufacturer wins a deal with the National Health Service in the UK, becoming an "official supplier". It secures its first order from two hospitals in the Epsom and St Helier Trust Hospital group in Surrey. It adds: "Coincidentally, Zenova, alongside its sub-distributor, Holistium Technologies Ltd have been appointed permanent, official suppliers to the NHS, one of the first for any specialist extinguisher producer."
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Staffline Group PLC, up 6.0% at 32.00 pence, 12-month range 21.10p-38.90p. The recruitment and training says momentum seen in the fourth quarter of 2023 continues in the first four months of 2024. "In particular, the group is encouraged with the performance of its recruitment businesses, which supported strong trading cashflow performance, that is ahead of management expectations," it adds. Staffline is optimistic it can achieve annual results in line with management expectations.
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AIM - LOSERS
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Tekcapital PLC, down 9.2% at 10.90p, 12-month range 6.00p-18.00p. The intellectual property investor reports a weaker net asset value3, as it notes "unrealized reductions" in the valuations of investee Lucyd and Belluscura. Its NAV per share falls 29% to USD0.27 at the end of 2023 from USD0.38 a year prior. Its portfolio valuation declines to USD41.1 million from USD54.9 million. Tekcapital adds: "In 2023 we had a productive year for long-term value creation, setting the foundation for meaningful growth in 2024 as evidenced by the successful flotation of Microsalt PLC post year end. Our portfolio companies achieved significant milestones, however due to unrealized reductions in the end of period quoted valuations of Lucyd and Belluscura, our profitability, net assets and net assets per share were commensurately negatively impacted." Belluscura is a respiratory medical device company. Lucyd is an eyewear firm.
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By Eric Cunha, Alliance News news editor
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