AIM movers: Angling Direct second quarter decline and ex-dividends

Fishing equipment retailer Angling Direct (LON: ANG) increased interim revenues by 1% to £38.9m, but they weakened in the second quarter and management says that full year revenues will be lower than previous guidance of £82m. That will lead to a sharp reduction in expected EBITDA to between £3m and £3.4m. In the six months to July 2022, retail store sales grew by 10%, but online revenues declined by 8%. That is not a surprise because there were restrictions in the comparative period. European sales are growing following the opening of a new distribution centre, though. The share price slumped 17.8% to 30p.

Touch sensors manufacturer Zytronic (LON: ZYT) says that orders have been hit by availability and cost of materials and electronic components. Full year revenues are expected to be around £12.3m, compared with previous expectations of £13.8m. Pre-tax profit was expected to more than double from £453,000 to £1m and it is still expected to increase, but it will be much lower than previously expected. There should still be £6m in cash at the end of September 2022. The share price fell 8.77% to 130p.

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Eyewear and lens manufacturer Inspecs (LON: SPEC) moved back into profit in the first half of 2022, but it is cautious about its UK and European markets even though order books are ahead of last year. Revenues improved from $125.7m to $138.4m and the reported pre-tax profit is £800,000. European sales were ahead of budget in the first half, but Inspecs reports in US dollars and the decline in the Euro lowered reported sales. There was a 8.75% fall in the shares to 219p.

Shares in Bens Creek (LON: BEN) have fallen 5.22% to 31.75p, after the coal miner raised £6m at 30p a share. There are plans for the company to undertake its own mining instead of using a contractor and increase production. The cash will pay deposits on new equipment.

Agricultural products supplier and retailer Wynnstay Group (LON: WYN) raised £10.5m in a placing at 560p a share, which was above the minimum price indicated of 550p a share. The share price has fallen 4.52% to 592p. The plan is to redevelop the Calne feeds site that came with an acquisition earlier this year. This can be developed into a feed mill with a 185,000 metric tonne capacity that produces poultry and ruminant feed. There are also opportunities for further acquisitions.

Invinity Energy Systems (LON: IES) has delivered and installed a 1.8MWh VS3 flow battery system at the European Marine Energy Centre hydrogen R&D facility in the Orkney Islands. This has 48 VS3 battery modules, which should be enough to power more than 210 UK households. The system will be combined with tidal generation. The share price continued its upward trajectory, rising 17.6% to 53.5p.

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Events agency Aeorema Communications (LON: AEO) says its profit will be higher than expected on more than doubled revenues in the year to June 2022. A loss of £160,000 last year will be turned into a pre-tax profit of at least £830,000 – £700,000 was previously expected. A new office has been opened in Amsterdam. The shares jumped 17.2% to 78.5p.

Shares in Empire Metals Ltd (LON: EEE) have risen 9.76% to 1.125p on the back of the airborne magnetic survey at the Pitfield copper gold project in Western Australia. A significant structure has been interpreted that aligns with the surface anomaly previously identified in the 1990s. This will help to target areas with the highest exploration potential. The detailed analysis will be received in the next few weeks.

Pantheon Resources (LON: PANR) has successfully drilled the horizontal section of the Alkaid #2 well in Alaska, with the lateral section extending 5,300 feet. The well is now ready for fracking. There could be an increase in the pre-drill oil in place and recoverable oil estimate. The shares are 5.86% higher at 134.65p.


Atalaya Mining (LON: ATYM) is paying a dividend of 3p a share and the share price is 1p lower at 239p.

Eneraqua Technologies (LON: ETP) is paying a maiden dividend of 1p a share and the share price rose 3p to 300p.

Jarvis Securities (LON: JIM) is paying a quarterly dividend of 3p a share and the share price fell 1p to 164p.

Mincon Group (LON: MCON) is paying an interim dividend of 1.05 eurocents and the share price is unchanged at 95p.

Rotala (LON: ROL) is paying an interim dividend of 0.5p a share and the share price and the share price is unchanged at 34.5p.

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