AIM movers: Naked Wine reassures despite high stock levels and ex-dividends

A trading update from Naked Wine (LON: WINE) appears to have reassured investors and the share price recovered 30.2% to 122.9p. Management had been far too optimistic about the continuing rate of growth and that meant that costs and stock levels were too high. Marketing spending is being cut by £18m and the emphasis put on existing customers. That should enable Naked Wine to make an operating profit of around £10m in the year to March 2023. The days of being valued on potential growth are over and it will take time for the share price to make a more significant recovery.

Plexus Holdings (LON: POS) has issued £1.5m of convertible notes to OFM investment, which is connected to Plexus chief executive Ben van Bilderbeek, who is subscribing for some convertibles himself, and non-exec Jeff Thrall. The cash will be used for working capital and take advantage of new opportunities. Plexus is re-entering the exploration wellhead rental from Jack-up rigs market. The shares rose 18.4% to 2.25p.

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Gama Aviation (LON: GMAA) is acquiring the Statesville hangar facility for its maintenance subsidiary Jet East. It will cost $3.5m plus $1.5m in fitting out costs. This follows yesterday’s joint venture with Peter Bond and its first contract to support offshore operations of an oil and gas company in the North Sea for a five-year period. The share price is 14.4% higher at 63.5p.

IG Design (LON: IGR) had a strong first half, which was much better than the first half of last year. That is partly due to orders coming in earlier. Christmas trading is the key to the full year, though. Consumer spending is uncertain, and inflation is still hampering margins. Full year guidance is maintained. The interims are published on 30 November and there should be a further update on trading. The share price recovered 7.4% to 87p.

Construction materials supplier SigmaRoc (LON: SRC) like-for-like revenues are 19% ahead in the first nine months of the year and it is on course to nearly double pre-tax profit from £28.1m to £55m. The share price has bee on the slide for more than one year, but it moved up 7% to 45.05p, which is less than eight times prospective 2022 earnings.

Identity services provider GB Group (LON: GBG) has fallen back 17.9% to 353.5p after its interim statement. A reduction in cryptocurrency activity held back the growth of the identity business. On a pro forma basis, excluding one-off revenues in the previous year, there was 10% growth in the period. Interim revenues will be £133.8m, up 22.5% including initial contributions from acquisitions. Net debt is £132.6m. Full year expectations are unchanged.

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Yesterday, MobilityOne (LON: MBO) announced a joint venture with Super Apps Holdings to expand its eproducts and services business. The ecommerce payments services provider is also selling its 60% stake in OneShop Retail to Super Apps for initial proceeds of £7.53m followed by £3.76m within 180 days of completion. The sale should be completed by the end of the year, although it is dependent on the merger of Super Apps and Technology & Telecommunication Acquisition Corporation. The share price more than doubled yesterday, but profit-taking has led to a 13% decline to 8p.


Animalcare (LON: ANCR) is paying an interim dividend of 2p a share and the share price is unchanged at 222.5p.

Gemfields Group (LON: GEM) is paying an interim dividend of 1.12p a share and the share price dropped 1.2p to 8p.

Shanta Gold Ltd (LON: SHG) is paying an interim dividend of 0.1p a share and the share price is up by 0.075p to 12.375p.

STM Group (LON: STM) is paying an interim dividend of 0.6p a share and the share price is unchanged at 27p.

Winkworth (LON: WINK) is paying a dividend of 2.7p a share and the share price is unchanged at 150p.

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