AIM WINNERS & LOSERS: Intercede says 2022 results better than expected

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(Alliance News) – The following stocks are the main risers and fallers on AIM in London on Monday.

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GOAL – WINNER

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Intercede Group PLC, up 11% at 67.2 pence, 12-month range 38p-80p. The cybersecurity software firm expects revenue in the financial year ending March 31 to be 5% to 8% ahead of market forecasts, with the firm citing a market consensus of ‘ GBP11.3 million. As a result, Intercede now expects adjusted earnings before interest, tax, depreciation and amortization to be “materially ahead” of the forecast of GBP600,000. In financial 2022, the firm brought in revenue of GBP9.9 million, which produced an operating profit of GBP390,000. “The pipeline of new business continues to grow, and the group has several other contract opportunities that may close before the end of the fiscal year,” says Intercede.

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Getech Group PLC, up 14% at 15.64p, 12-month range 12.05p-33.4p. The geo-energy and green hydrogen company says 2022 revenue is expected ahead of market expectations at GBP5.0 million, compared to GBP4.3 million in 2021. “Getech begins 2023 with a strong balance sheet, growth in the sales pipeline, along with good customer and partner momentum,” the firm says. It also confirms that the board has “no current plans” for a capital increase from shareholders.

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GOAL – LOST

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Audioboom Group PLC, down 3.1% at 410.0p, 12-month range 382.0p-2,278.0p. The podcast provider says performance in 2022 was “restricted” by wider global economic headwinds hitting the wider advertising market, despite the period being “on paper…successful big”. Annual revenue rises 25% to USD75.5 million from USD60.3 million the previous year, and annual adjusted Ebitda rises to a record USD3.6 million, up 16% from USD3.1 million. “The challenging economic conditions in which Audioboom has operated during 2022 have sustained even stronger financial growth in line with our initial expectations… I am confident that the business… is fully primed for more growth as the advertising market improves in 2023,” says the President. Michael Tobin.

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By Elizabeth Winter, senior markets reporter for Alleanza News

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