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Pipehawk PLC (PIP)
ORD 1PThis share can be held in a Dealing accountStocks and shares ISALifetime ISAJISASIPPand can be used with Dividend reinvestment
AIM WINNERS & LOSERS: SIMEC wins UK electricity supply deal
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Friday.
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AIM - WINNERS
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Minoan Group PLC, up 16% at 0.38 pence, 12-month range 0.31p-0.95p. The company developing a tourism project in Greece remains in talks with providers of its secured debt. The debt had expired in December. Minoan "expects to successfully resolve this situation in the next few weeks".
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SIMEC Atlantis Energy Ltd, up 13% at 2.32p, 12-month range 0.70p-3.10p. The developer of sustainable energy projects wins a 15-year pact to provide electricity to the National Grid in the UK. The deal was won during a market auction round.
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AIM - LOSERS
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PipeHawk PLC, down 11% at 1.61p, 12-month range 1.08p-9.00p. The engineering solutions provider reports pretax profit of GBP30,000 in the six months to June 30, from a GBP633,000 loss a year prior. Revenue slides 54% to GBP2.1 million from GBP4.6 million. "The group's remaining key subsidiaries service the utilities, government and rail industries and, hence, are significantly less reliant on the confidence of private sector businesses to commit funds for major investment projects. Though, somewhat ironically, while Network Rail has a reported budget of GBP44 billion to spend on UK rail infrastructure in the five years from April 2024, Network Rail seems very reticent to place orders with its Tier 1 suppliers. As a result, the start to the current calendar year has been slower than that I would have wished. Nevertheless, the prospective order book across all three operating subsidiaries remains buoyant, and I am confident that the overall recovery will continue," PipeHawk says.
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By Eric Cunha, Alliance News news editor
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