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AIM round-up: Tasty, Ethernity, Jarvis and Eve

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London’s AIM Index took another step lower today with those Fed rate expectations overshadowing any hopes that the Russian invasion of Ukraine may be close to an end. At 4.30pm, the junior market sat almost nine points lower at 854.73.

  • Ethernity Networks +48%
  • Jarvis Securities +26%
  • Boku +15%
  • Eve Sleep -41%
  • Tasty Plc -27%

Ethernity Networks LON:ENET topped the board, up 48% by the close. This morning the company announced that it had been awarded a $4.6m follow on contract with existing customers, more than doubling the existing deal size and making a significant contribution to 2023 revenues.

Jarvis Securities LON:JIM advanced 26% on the day, staging a modest rebound off the losses posted ahead of the weekend following a company update. On Friday the company advised that it had implemented onboarding restrictions and appointed a regulatory consultant to review group activities leading share prices down by around 50% as a result.

Eve Sleep LON:EVE was the day’s worst performer, down some 41% by the bell. This morning the company published interim results for the first six months of the year showing a 16% fall in revenues, a 33% decline in profits and a doubling of pre-tax losses for the period. The cost of living crisis is squeezing new orders and the company continues to look at selling the company – although so far this hasn’t yielded any meaningful progress

UK casual dining operator Tasty LON:TAST also had a rough day, sitting some 27% lower at the close. Half year results were released yesterday and although these showed strong underlying growth, that was a consequence of the unrestricted market. Rising costs, a tightening labour market and pressure on discretionary consumer spending all risk converging to create fresh headwinds for the company. Trade was however thin and the spread accounts for around half of the losses.

Mobile payment solutions provider Boku LON:BOKU gets the notable mention today, adding 15% in the wake of news of a contract win with Amazon, serving customers across select countries in South East Asia and Africa. Revenues will be calculated on a percentage of sales, but no further metrics are given here.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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