AIM movers: Synectics uncertainty and Victoria sales decline

Energy as a Service provider eEnergy Group (LON: EAAS) shares recovered more than the initial loss following the news earlier this week that £3m-£4m of expected 2025 revenues will be delayed until 2026. The share price is 10.5% higher at 4.75p.

Bezant Resources (LON: BZT) has completed the acquisition of 90% of the company that owns the NLZM processing plant, which is an important part of developing the Hope & Gorob gold project in Namibia. The share price improved 3.33% to 0.0775p.

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Lithium producer Kodal Minerals (LON: KOD), which owns 49% of the Bougouni lithium project in southern Mali, says that the initial payment of $21.3m for spodumene concentrate has been received from the offtake partner. A second shipment is planned in the first quarter of 2026. The processing plant has restarted after a period of maintenance and optimisation of performance. Stockpile levels are being built up to ensure continued supply in 2026. There are positive exploration drilling results. The share price gained 3.23% to 0.32p.

FALLERS

Surveillance and security systems supplier Synectics (LON: SNX) has improved full year revenues from £55.8m to at least £68m, including a one-off contract worth £12m. Pre-tax profit increases from £4.7m to £6m. Cash was £14.1m at the end of November 2025. The total dividend is 11% higher at 5p/share. The order book is worth £26.5m, but there is no large one-off contract. The uncertainty led to a 18.1% share price slump to 237.5p.

Floorcoverings supplier Victoria (LON: VCP) interim revenues fell from £568.8m to £528.7m and the underlying loss increased from £13.6m to £15.4m. The decline in revenues slowed to 2% in the second quarter. Lower volumes were partly offset by price increases. Net debt including lease liabilities rose from £857.1m to £1bn. Management is cautious about the outlook. The share price declined 17.8% to 30.825p.

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Avacta (LON: AVCT) has announced preliminary phase 1b in line with the phase 1a data for AVA6000 which shows clinically meaningful tumour shrinkage in salivary gland cancers. There will be further updates next year. The share price slipped 12% to 69.5p.

Toys and character figures supplier Character Group (LON: CCT) has been hampered by tariffs and weak consumer spending and 2024-25 revenues declined 19% to £100.5m, which meant that pre-tax profit slumped from £6.6m to £1.2m. Net cash was £12.6m at the end of August 2025. The dividend was slashed from 19p/share to 6p/share, but it is not covered by earnings. Tariffs for imports from China were reduced from 30% to 20% in November. Pre-tax profit could recover to £2.6m this year. The share price fell 7.6% to 243p.

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