AIM movers: CloudCoCo growth and ex-dividends

Managed IT services provider CloudCoCo (LON: CLCO) trebled revenues to £24m in the year to September 2022, while EBITDA improved from £745,000 to around £1m. There were four acquisitions in late 2021 so they contributed to the growth. Investment is sales is starting to pay off and there should be further growth in revenues and profit this year. The share price jumped 39.5% to 1.325p.

Newmark Security (LON: NWT) revenues improved from £17.6m to £19m in the year to April 2022, although margins are under pressure. The second half loss was reduced. This is from a trading statement and the accounts should be published at the end of November. An extension has been granted by AIM so the shares will not be suspended at the end of October. A $2m invoice discounting facility will help to finance working capital. Inventory is being reduced as supply chain problems ease. The share price recovered 21.6% to 31p.

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Cambria Africa (LON: CMB) has conditionally agreed to sell its 78.2% stake in AF Phillips for $1.74m. The Zimbabwe has released $75,642 of blocked funds. There was a 14.1% share price rise to 0.405p.

Franchise Brands (LON: FRAN) says that Filta and Metro Rod are trading strongly, and full year group pre-tax profit will be better than expected. The consumer franchise businesses are finding it difficult to recruit franchisees. The 2022 pre-tax profit forecast has been raised by 5% to £12.4m. The share price is 7% ahead at 160.5p.

Eyewear supplier Inspecs (LON: SPEC) says like-for-like revenues fell 3% to £179.4m in the nine months to September 2022 due to currency movements. There was growth after a contribution from acquisitions. Weak consumer confidence is likely to continue in the fourth quarter, particularly in Germany and France. The weaker order book means that the investment in expanding capacity in Vietnam and Portugal will be delayed, while the Norville manufacturing facility is taking longer than expected to complete. The share price has more than halved. The 54.4% fall to 52.5p, which makes Inspecs one of the bottom 20 AIM performers this year.

Electrolyser technology developer ITM Power (LON: ITM) shares dived 27.9% to 75.27p, which means that there has been an 81% decline in this year. ITM Power has manufacturing problems so output and revenues will be at the lower end of previous guidance, which probably means revenues of little more than £23m. There will be a £3m increase in warranty provision.  

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Environmental and life science company DeepVerge (LON: DVRG) has secured additional finance. An initial £10m has been raised at 2p a share, while there is a broker option that could raise a further £2.5m at the same price. The cash will be invested in Labskin and Skin Trust Club, as well as repaying the March 2022 loan facility. The share price declined by 10% to 2.25p.  

Egdon Resources (LON: EDR) continues to fall because of the reinstatement of the fracking ban in the UK. The shares fell a further 6.78% to 2.75p, having been 3.8p before the announcement.


Avingtrans (LON: AVG) is paying a final dividend of 2.6p a share and the share price fell 5p to 372.5p.

Mulberry Group (LON: MUL) is paying a final dividend of 3p a share and the share price is unchanged at 215p.

Next Fifteen Communications (LON: NFC) is paying an interim dividend of 4.5p a share and the share price is down 21.5p to 884.5p.

Sanderson Design Group (LON: SDG) is paying an interim dividend of 0.75p a share and the share price is unchanged at 122.5p.

Serica Energy (LON: SQZ) is paying an interim dividend of 8p a share and the share price rose 2.75p to 337.25p.

Sylvania Platinum (LON: SLP) is paying a dividend of 8p a share and the share price fell 9p to 91p.

FW Thorpe (LON: TFW) is paying a dividend of 4.61p a share and the share price slipped 10p to 407p.

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