AIM movers: Surgical Innovations plans improved efficiency and ex-dividends

Surgical Innovations (LON: SUN) reported record revenues in 2023 and it has set out the measures that should return it to profitability. The surgical instruments supplier increased revenues from £11.3m to £12m, but it fell back into loss. There has been an 11% reduction in employees and investment in robotic equipment to improve efficiency. The second quarter order book is strong. Two distribution agreements have been extended. Singer forecasts a £300,000 loss for 2024, but it will reassess the figure at the time of the first half trading statement. The share price improved by one-quarter to 0.5p.

Legal finance provider Manolete Partners (LON: MANO) says total revenues improved from £20.8m to £26.3m. Realised revenues were lower because there was a large one-off case completion in the previous year. There was a positive contribution from unrealised revenues. This led to a return to profit in the year to March 2024. Net debt is £12.25m. The higher level of insolvencies is leading to greater demand for financing of cases. The share price improved 20.4% to 147.5p.

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Optimer binders developer Aptamer Group (LON: APTA) is partnering with Kairos Biotech, which will use the Optimer+ affinity ligand platform to develop EM molecules that can be used in relation to transplant rejection and improve the chances of success. This is a fee for services project. The shareholding of S Chari increased from 3.14% to 4.39%. The share price recovered 9.52% to 0.575p.

Online content publisher LBG Media (LON: LBG) improved 2024 revenues 7.5% to £67.5m, while pre-tax profit rose 7% to £14m. Net cash is £15.8m. The problems in Australasia are being sorted out. Growth was achieved despite the weak advertising market. Zeus forecasts a 2024 pre-tax profit of £19.6m, helped by a full contribution from US business Betches. The company is up for two awards at the Small Cap Awards 2024 on 13 June. The share price increased 8.15% to 73p.


CEPS (LON: CEPS) has received a payment of £345,000 relating to the winding up of the Dinkie Heel pension fund. The total surplus after tax was £403,000, but there will be fees to be taken from this before the residual amount is paid. The share price fell 12.5% to 17.5p.

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Fire protection products developer Zenova Group (LON: ZED) has appointed Peterhouse as broker and switched auditor from PKF to Gravitas Audit. The share price dipped 9.09% to 1.5p.

Chief executive Lisa Anson continues to buy shares in Redx Pharma (LON: REDX), which will soon be leaving AIM. She acquired a further 189,500 shares at an average price of 10.01p each. She owns 751,683 shares. The share price still declined 11.1% to 12p.

Investment company Gunsynd (LON: GUN) reported a slump in NAV from £3.28m to £1.74m in the year to January 2024. The focus is resource companies and the share prices have performed poorly. There was cash of £113,000 at the end of January but there have been share sales since then. The share price dipped 7.41% to 0.125p.


Airea (LON: AIEA) is paying a final dividend of 0.55p/share and the share price is unchanged at 33.5p.

Arbuthnot Banking (LON: ARBB) is paying a final dividend of 27p/share and the share price is 25p lower at £10.75.

Hvivo (LON: HVO) is paying a final dividend of 0.2p/share and the share price is unchanged at 27.6p.

Uniphar (LON: UPR) is paying a final dividend of 1.19 cents/share and the share price and the share price is unchanged at 224p.

M Winkworth (LON: WINK) is paying a dividend of 3p/share and the share price is unchanged at 175p.

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