News blog

AIM 50 Digest 22 October 2021

  • BY: Andrew Hore |
  • POSTED: 25/10/2021 |

ASOS (ASC) disappointed the market with its results and Nick Beighton is stepping down as chief executive. Peel Hunt has slashed its 2021-22 pre-tax profit forecast from £224.3m to £124.3m. This reflects a sharp fall in margins. The operating margin had been boosted by fewer returns but there have also been increase marketing costs. Directors have been taking advantage of the share price decline to buy shares.
Full year forecasts for identity services provider GB Group (GBG) were upgraded following its interim trading statement. There should be 12% organic growth in revenues in the first half. This was helped by high volumes of cryptocurrency trading. Revenues should be at least maintained this year, even without any one-off boosts like last year, and the 2021-22 pre-tax profit forecast has been raised £46.5m to £50.8m.
Silence Therapeutics (SLN) intends to cancel its AIM quotation so that trading is concentrated on Nasdaq.
ITM Power (ITM) has raised £250m at 400p a share. This will help to fund the expansion of manufacturing capacity to 5GW by 2024.
Social care services provider CareTech (CTH) says full year results will be in line with expectations. There are problems with staff retention. WH Ireland forecasts a 2020-21 pre-tax profit of £69.9m.
IQE (IQE) is collaborating with GlobalFoundries to develop gallium nitrade on silicon technologies for mobile and wireless. GlobalFoundries will use IQE semiconductor wafers at its Vermont facility. IQE is also investing in IT to improve its efficiency.
Aquaculture business Benchmark (BMK) says that its full year EBITDA should be better than expected. However, the pre-tax loss will still be around £4m, although it is on course to make a pre-tax profit in 2021-22.
MP Evans (MPE) has completed the sale of Bertam Estate for $24m to the 40%-owned Bertam Properties. So far 60% of the purchase price has been paid. The rest is payable in January 2022 and July 2023.
Polar Capital (POLR) has increased its assets under management from £20.9bn to £23.4bn in the six months to September 2021 with more than two-thirds of the increase coming from market movements.
Secure Income REIT (SIR) has announced a 3.95p a share quarterly dividend and it should continue at that level for another two quarters. 
Johnson Service Group (JSG) chief executive Peter Egan bought 25,000 shares at 130p each, while chairman Jock Lennox acquired 25,000 shares at 130.2p each. Non-exec Denise Collis has bought 1,441 EMIS (EMIS) shares at 1379.58p each. AFC Energy (AFC) chief engineer has acquired 18,817 shares at 53.08p each. Next Fifteen Communications (NFC) chief executive Tim Dyson has sold 77,997 shares at 1135p each. He still has a 5.39% stake.

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