London’s AIM Index has started the week on an upbeat note, tracking the main board higher and reaching the bell some six points higher at 858.71.
- i-Nexus Global +47%
- Microlise +27%
- Elixirr International +20%
- Hercules Site Services -37%
- Oncimmune -29%
i-Nexus Global LON:INX found its way to the top of the board some 47% ahead in the wake of a trading update which noted that customer growth was on track to deliver another year of double digit monthly recurring revenue growth. Client wins since the start of the current FY in October have been robust and many existing customers are also looking to increase usage going forward.
Microlise LON:SAAS added 27% in a day of elevated volumes for the stock. The company was tipped in the weekend media which appears to have driven support, with today’s gains recovering the downside that set in a month ago in the wake of a full year trading update.
Elixirr International LON:ELIX added 20% on the day, again with a trading update driving support. FY22 results are expected to be in line with forecasts and shareholders are set for a 160% uptick in dividends as a result of the strong cash performance of the business, whilst management also note a strong start to FY23.
Hercules Site Services LON:HERC dipped 37% on the day in the wake of placing news. The new issuance was at a 25% discount leading to soe suggestions that the sell-off may be overdone. Proceeds from the raise are being used to support the company’s labour supply division.
- Hercules Site Services share price surges 82% in a year
- Small Cap Stocks: i-nexus Global, Genip, Oxford Biodynamics
- Small Cap Stocks: Oracle Power, Quadrise, i-nexus Global
Oncimmune LON:ONC slipped 29% on the day as investors digested final results. A sharp increase in administrative expenses did little to bolster support and cash is running low, but the company expects to deliver at least £3.8m in revenues in H1 and be cashflow positive in the year ahead.
