AIM movers: Quadrise completes fuel trial and Plant Heath Care hit by destocking

Quadrise (LON: QED) has completed the industrial demonstration MSAR and bioMSAR fuels test in Morocco. Emissions were very low when running at 100% of capacity. A technical report is being prepared for the client and a long-term commercial supply agreement will be discussed. The share price recovered 22.1% to 1.45p.

Shares in Tremor International (LON: TRMR) recovered after it announced slightly better than expected results and a $20m share buyback. The programmatic advertising reported third quarter EBITDA 4% ahead of forecasts at $21.3m on revenues 18% higher at $76.6m. Full year pre-tax profit is expected to fall by more than two-thirds to $38.3m before recovering next year. Net cash should increase to $121m. The share price improved 16.8% to 161.65p.

- Advertisement -

Lifestyle concierge services provider Ten Lifestyle (LON: TENG) has moved into profit for the first time. It swung from a loss of £2.7m to a pre-tax profit of £3.2m thanks to economies of scale. There was also a tax credit recognised due to past tax losses. Investment in its digital platform and the international spread of business is helping Ten Lifestyle. New contract wins will help to increase this year’s pre-tax profit to £3.9m, according to Singer. The share price increased 12.5% to 103.5p.

RUA Life Sciences (LON: RUA) shares are rising for the third day running following news concerning potential contracts for the manufacturing business and progress with development and testing of heart valve and vascular products. Cash is being conserved and a partner is being sought to help fund the £6m cost of regulatory testing of the vascular product in the US. The share price rose another 8% to 40.5p.


Plant Health Care (LON: PHC) says deteriorating agriculture market conditions have hampered growth. There is destocking in the agrichemical market. Full year revenues are likely to be flat, which is a relatively good performance when compared with the sector. Revenue expectations for 2024 have been cut by 28% to $16.6m – a 38% increase on 2023 revenues – and it should still make a modest profit. The share price slumped 31.6% to 3.97p.

- Advertisement -

Promotional products services provider Pebble Group (LON: PEBB) admits that full year revenues will decline from £134m to £124m and EBITDA is likely to fall from £18m to £16m. Net cash should be at least £15.1m at the end of 2023. Digital commerce platform Facilisgroup has improved revenues, but promotional products supplier BrandAddition has been hit by weaker demand from technology and consumer clients. The share price dived 31.4% to a new low of 60p.

Parity (LON: PTY) announced the sale of its remaining business yesterday afternoon. It will become a cash shell. Parity will receive up to £3m depending on working capital adjustments for recruitment business Parity Professionals. The deal costs will be £240,000. There will be £639,000 including costs spent to settle the pension liability and finance the search for an alternative business. The company will change its name to Partway. The share price has declined 23.5% to 1.3p.

GreenRoc Mining (LON: GROC) has raised £461,000 at 2.5p/share to complete the feasibility study on the graphite anode process plant and environmental studies for the Amitsoq graphite mine in Greenland. The plan is to develop a vertically integrated mining and processing operation.  The share price slipped 23.9% to 2.55p, which is a new low.

Floorcoverings manufacturer Victoria (LON: VCP) reported interims in line with expectations but warned that the second half was likely to be tougher. There was a dip in interim EBITDA from £100.1m to £95.8m on lower revenues. North America was the one region where profitability improved. There are cost savings to come, but the weaker markets will offset some of this benefit. Singer forecasts a decline in full year pre-tax profit from £76.9m to £60.5m. The share price fell 21.2% to 238p.

Latest News

Subscribe to the UK Investor Magazine email newsletter

Register for our free email newsletter and receive the latest investment news, podcasts, event information and offers.

More Articles Like This

Tagdiv Cloud library - template content.