AIM movers: MediaZest winning work and Jaywing chief executive leaves

Audio visual services provider MediaZest (LON: MDZ) says first half revenues grew and there was an improved interim EBITDA. The results will be published in June. There have also been significant orders since March with potential for additional project work in Europe. The company is negotiating with major brands for significant projects that will need to happen by the summer. The share price is three-quarter ahead at 0.105p.  

Shield Therapeutics (LON: STX) has recovered following the 2023 results announcement late on Friday with a 21.3% jump to 1.85p. Sales of the Accufer iron deficiency treatment are growing but they are still well below the level required to breakeven. Cavendish has reinstated 2024 forecasts, and it expects revenues to increase from £13.1m to £33.9m. Even so, a £20m loss is still forecast. Net debt could reach £28.6m by the end of 2024. A $10m factoring facility has been obtained. Management expects positive cash flow by the second half of 2025. Cavendish has a target price of 30p. The share price rose 21.3% to 1.85p.

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Acuity RM (LON: ACRM) has won a three-year contract for its governance, risk and compliance software and consultancy services worth more than £500,000. That is a combination of a renewal by a British government organisation and additional upsell of services. This cash is payable in 2024, although presumably it will not all be recognised as revenues this year. The share price increased 16% to 4.35p.

Film and TV translation services provider Zoo Digital (LON: ZOO) confirms that trading is improving, and the full year figures will be at least in line with expectations. The 2023-24 loss is expected to be $18.2m, but a jump in revenues from $39.9m to $65.9m in 2024-25 will be enough to move the company back into profit. The share price improved 12.7% to 62p.

Metallurgical coal company Bens Creek (LON: BEN) has finalised the terms of the facility provided by its largest shareholder Avani. The three US operations are in Chapter 11 bankruptcy protection and a court hearing will be held on 6 June to consider the final terms and the amount loaned, which is likely to be $8.85m. The share price recovered 12.9% to 0.175p.

FALLERS

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Active Energy Group (LON: AEG) says that its audit may not be completed by June, which would lead to a suspension of trading in the shares. Cash is running out and management may have to consider liquidating the company. This depends on whether the CoalSwitch assets are sold. There is currently $500,000 in the bank. There is also a 4.1% stake in green technology investor Alpha Prospects, but whether this is really worth the £680,000 book value is questionable. The share price slumped 44% to 0.21p.

Digital marketing services provider Jaywing (LON: JWNG) has completed its strategic review and chief executive Andrew Fryatt has left. David Beck becomes executive chairman. It has been decided that it is not the right time to sell the company and there are reasons for optimism. There have been new business wins that will benefit the year to March 2025. The 2023-24 revenues were flat with consultancy work for a major customer not happening in the fourth quarter. The share price declined 17.5% to 2.6p.   

E-commerce firm Huddled (LON: HUD) reported a 2023 pre-tax profit of £13m, but that was due to gains on the disposals of Immotion and Uvisan. The underlying pre-tax loss was £2.29m. Cash of £12.7m was returned to shareholders out of the disposal proceeds, but there was still £4.27m in the bank at the end of 2023. The new core business Discount Dragon was acquired in October, so the figures do not provide a good indication of ongoing operations. Discount Dragon generated revenues of £2.1m in the first quarter of 2024. The share price fell 15.7% to 2.95p.

Oil and gas company Kistos (LON: KIST) pro forma production declined to 8,800 barrels of oil equivalent/ day due to unplanned interruptions. The fall in the gas price meant that Kistos swung into loss, although there was also an impairment charge for the UK exploration operations. The share price dipped 9.8% to 156.5p.

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