London’s AIM Index failed to find any inspiration off the back of the Autumn Statement, with changes to CGT and dividend allowances certainly not throwing any crumbs of comfort to investors. By the close, the index was down just over four points at 835.51.
- Mulberry +40%
- Harland & Woolf +31%
- Crimson Tide +17%
- Ilika -33%
- Landore Resources -16%
Mulberry LON:MUL reached the close at the top of the board tonight, up an impressive 40% although that was admittedly in thin trade. There’s no news here and even though gains only emerged after the Chancellor had spoken, it seems a stretch to try and link these to the Autumn statement.
Harland and Woolf LON:HARL makes it onto the board for a third day, adding 31%. The company published an update on the Fleet Solid Support preferred bidder status award, heralding it as a defining moment not just for H&W but also the wider UK ship building industry.
Crimson Tide LON:TIDE advanced 17% on the day, helped along by news of significant contract expansion and extension with an existing retail client. The deal is valued at over £1m and is reported as being high margin, delivering a meaningful boost to the £16m company.
Ilika LON:IKA was the biggest faller, down 33% by the bell. A trading update published this morning highlighted that revenues for FY24 & FY25 were now expected to be materially lower than previous forecasts, raising a question as to whether the £14m estimated to be left in the bank by the end of FY23 will be sufficient to see the company through to profitability.
Landore Resources LON:LND slipped 16%. A drilling update this morning seems to be the likely trigger here – there didn’t appear to be any overtly bad news, but some investors arguably left feeling as if it could have been better, with volumes notably higher than average as a result.
