AIM movers: Revolution Beauty slump and GYG set to leave AIM

Cosmetics supplier Revolution Beauty (LON: REVB) is the latest of the crop of 2021 AIM new admissions to put out a trading warning that has led to a 57.9% slump in the share price to 25.95p. The July 2021 placing price was 160p. Revolution Beauty has delayed its 2021-22 results and cut its expectations for 2022-23. Poor retail demand in the US and the loss of £9m of Russian and Ukraine revenues have hit the early part of the new financial year. Online demand is switching to store sales and cost increases have hit profitability. Zeus has cut its 2022-23 EBITDA forecast by 38% to £19m, while higher net debt means that earnings are reduced by 64% to 1.5p a share.

Yacht services provider GYG (LON: GYG) is asking shareholders to agree to drop its AIM quotation at a meeting on 31 August. The shares fell 34.9% to 20.5p. Poor trading in recent years and lack of investor interest are two reasons for the proposed cancelation. Costs can be reduced by €700,000 a year. The half year trading update says that revenues are in line with expectations and the order book is strong. However, there is a lack of capital to grow the business. EBITDA of €5m is forecast for 2022.

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Tower Resources (LON: TRP) shares have slumped after it raised £1.5m at 0.175p a share. The share price declined 31.6% to 0.195p. The oil and gas company is progressing with the financing of its NIOM-3 well in Cameroon and the cash raised will go towards payments on account for services associated with the well and for working capital.

PHSC (LON: PHSC) moved into loss in the year to March 2022, although that was due to a £793,000 impairment charge relating to the security division. The health environmental and safety consultancy services provider. Increased revenues from £3.3m to £3.57m and there was a small underlying loss. Net assets are £3.51m, including £2.2m of goodwill. At 22.5p, down 15.1%, PHSC is capitalised at £2.7m.

Coal miner Bens Creek (LON: BEN) recovered 8.2% to 39.5p after is aid that most of its infrastructure was not hit by the flooding in West Virginia and Kentucky. The rail system was affected, but it has been repaired.  

Shareholder approval of its financing at 0.3p a share on Monday pushed the Ironveld (LON: IRON) share price up 7.4% to 0.29p.

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