AIM movers: Pelatro contract success and weak advertising at Audioboom

Pelatro (LON: PTRO) says in its AGM statement that it has won new customers taking its annual recurring revenues to more than $7m, plus additional revenues of $1.7m from existing customers for this year. There is a pipeline worth $23m, including $5m for non-telecoms companies. The share price recovered 9.68% to 8.5p.

Telecoms components and systems supplier Filtronic (LON: FTC) says the low earth orbit contract won earlier this year has exceeded expectations and prospects for further contracts are positive. There are also prospects in the 5G market. Development contracts have been won for electronic warfare projects. Supply chain constraints are easing. The results for the year to May 2023 will be published on 1 August. The share price improved 5.36% to 14.75p.

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Yesterday, Chamberlin (LON: CMH) revealed it has secured a €7.3m contract with a European automotive industry components supplier. This involves supplying turbocharger castings over eight years. Tooling starts next month and full production in July 2024. The share price rose 1.59% to 3.2p.

Mineral and Financial Investments Ltd (LON: MAFL) has agreed an extension to the delivery date of the feasibility study on the Lagoa Salgada project with its joint venture partner Ascendant Resources. In return Mineral and Financial Investments will receive 500,000 warrants from Ascendant Resources, exercisable at $0.20/share. The final delivery date is 3 August. The share price is 2.86% higher at 18p.

Podcast platform operator Audioboom (LON: BOOM) has been hit by poor advertising markets and it will not meet 2023 expectations. There were record monthly downloads in May. finnCap has suspended forecasts and is waiting for the interim results. The share price slumped 26.6% to 207.5p.

Following today’s trading statement by Hotel Chocolat (LON: HOTC), Liberum has downgraded its forecast for 2022-23 and it expects a £1.5m loss rather than a £800,000 profit. The 2023-24 pre-tax profit forecast has been slashed from £20.3m to £6m. This follows weaker fourth quarter trading and problems with the availability of Easter ranges. Inflation will hit future profitability. Guidance by the management is becoming more prudent. The share price is 12.2% lower at 121.5p.

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Maritime surveillance systems supplier SRT Marine Systems (LON: SRT) is raising £3.2m through a placing at 50p and could raise up to £750,000 from a PrimaryBid offer. The share price fell 11.2% to 51.5p. The cash is required to fund growth. Revenues are expected to more than double to £70.9m and SRT is expected to move back into profit – £7.3m pre-tax profit is forecast.

Investment company RiverFort Global Opportunities (LON: RGO) made a loss in 2022 because of a reduction in the fair value of investments of £1.8m. The final dividend is maintained at 0.038p a share, which is more than covered by investment income. NAV fell by 10% to £10.6m (1.35p/share). The share price is 7.41% lower at 0.625p.

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