AIM WINNERS & LOSERS: Strip Tinning expects flat revenue in 2022

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on ...

Alliance News 18 May, 2022 | 10:22AM
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(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.

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AIM - WINNERS

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Deltex Medical Group PLC, up 9.8% at 1.13 pence, 12-month range 1.00p-1.80p. Chair Nigel Keen says revenue in UK and US shows "encouraging signs" as it looks to recover from disruption caused by Covid. "As the number of global elective procedures increases and access into hospitals improves for our teams of clinical educators and sales experts, the use of Deltex Medical's haemodynamic monitoring technologies is expected to recover towards pre-Covid levels," he adds.

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Arrow Exploration Corp, up 21% at 16.40 pence, 12-month range 6.88p-16.40p. Shares hit 12-month high following good results from the Rio Cravo Este-2 well testing in Colombia, ahead of company's expectations. RCE-2 well spud on April 2, targeting a large, three-way fault bounded structure with multiple high-quality reservoir objectives on the Tapir Block in the Llanos Basin of Colombia. Chief Executive Marshall Abbott says: "We're encouraged by the material results of RCE-2, the second well on the Tapir block. RCE-2 identified new zones for further exploitation with flowing results returning better than expected."

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AIM - LOSERS

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Strip Tinning Holdings PLC, down 22% at 115.00 pence, 12-month range 115.00p-187.50p. Says 2021 revenue and underlying Ebitda will be in line with the board's expectations. Annual revenue to be up 29% to GBP11.1 million from GBP8.6 million, with underlying Ebitda to be GBP500,000 versus GBP1.2 million in 2020. Looking ahead, the Birmingham-based supplier of electrical connectors for cars says: "Whilst a slightly improving sales position is anticipated for the remainder of 2022 as a result of previously won new products entering full production, the board now expects to deliver revenues for the 2022 consistent with last year, in line with the wider automotive market performance."

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By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Deltex Medical Group PLC 1.15 GBX 0.00 -
Strip Tinning Holdings PLC 96.30 GBX -2.73 -
Arrow Exploration Corp 15.99 GBX -3.09 -
Arrow Exploration Corp 0.24 CAD -2.04 -

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