(Alliance News) – The following stocks are the leading risers and fallers on AIM in London on Tuesday.
Microlise Group PLC, up 23% at 125.00 pence, 12-month range 88.04p-173.00p. Shares in the provider of software-as-a-service transport technology solutions to fleet operators rise. Microlise expects to report revenue of GBP71.7 million for 2023, up 13% from GBP63.2 million from 2022. Adjusted earnings before interest, tax, depreciation and amortisation are projected to be around GBP9.4 million, representing an uplift of 14% on the previous year, and coming in slightly above market expectations of between GBP9.1 million and GBP9.2 million. Looking ahead, Microlise expects to deliver “strong revenue growth” in financial 2024, driven by “further organic growth” and recent mergers and acquisitions. Operating margins are expected to trend upwards.
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Petards Group PLC, up 16% at 4.92p, 12-month range 2.51p-12.00p. Petards is a technology company that develops security and surveillance applications, focussing on rail, traffic, and defence. It says that its subsidiary QRO Solutions has won an order worth GBP400,000 for artificial intelligence enabled ANPR cameras. The order is the first for the supply and installation of QRO’s newly developed Harrier AI ANPR cameras. The project forms part of a three-year programme. This new order is expected to be fully delivered during 2024. Chair Raschid Abdullah says: “We are delighted that Harrier AI cameras have been selected by our customer for this UK highways application demonstrating their confidence in QRO’s technology, high levels of customer service and support. This win reinforces QRO’s market position both as an innovator and a leading supplier of ANPR technologies in the UK.”
Argentex Group PLC, down 15% at 59.80p, 12-month range 51.20p-141.00p. The international provider of foreign exchange services for institutions, corporates and high-net-worth private individuals says it expects lower revenue and profit than previously anticipated. It says that in 2023, it expects to report revenue of GBPP49.8 million, down from GBP50.4 million a year earlier, and operating profit of “not less than” GBP8.0 million, down from GBP11.3 million. “The group invested, as communicated at the time, for growth in 2023, with significant investment in people, technology and overseas expansion. However, market conditions have remained challenging and there have been a number of costs which had not been anticipated previously,” Argentex says.
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