A spike in deal-making dominated the winners' list in the AIM 100 as investors swooped to pick up some well-known UK names at knockdown prices.
Tasty deals and colourful cosmetics lead the way
The sweetest deal of all saw Hotel Chocolat Group PLC (AIM:HOTC) bought by Mars for £534 million, helping shares in the up-market chocolatier to soar 120% during 2023.
Warpaint London PLC (AIM:W7L), which owns the W7 and Technic brands, took the silver medal, rising 102%, boosted by strong demand for its colour cosmetics.
It has continued to push its products into new stores with further expansion planned for 2024.
Ashtead Technology Holdings PLC (AIM:AT.) was another in the winners’ enclosure, soaring 95%, pleasing the City with several upbeat trading updates.
The firm, which rents subsea equipment to the offshore energy sector, has twice told the City it expects profit to be well above forecast, notching a big tick in the box for the scribes in the Square Mile.
DX delivers for shareholders
Niox Group PLC made a strong start to the year with strong trading and a special dividend, and despite fading towards the end of the year still notched up a gain of 80%.
DX (Group) PLC was another to attract a bid, leaping 71%.
The parcel delivery outfit agreed a £315 million approach from HIG European Capital Partners.
Yellow Cake PLC (AIM:YCA) jumped 59%, boosted by strong demand for uranium, while Johnson Service Group PLC surged 48% higher after the textile services firm reinstated the dividend and saw profit and revenue climb.
Another M&A deal propelled Gresham House 49% higher after it was bought by Searchlight Capital Partners in a £470 million deal.
Mortgage Advice Bureau (Holdings) PLC rose 48% as business stabilised after a tough year in the property market while a favourable legal ruling helped lift shares in Burford Capital Limited (LSE:BUR) by 46%.
Alaskan setbacks dog Pantheon
It wasn’t a great year for Pantheon Resources which took the unwanted position as top faller, down 72%, after issues with its Alkaid 2 well in Alaska, while Kistos slid 61% after falling into the red amid a decline in revenue due to a drop in energy prices.
Video game development company Team 17 tumbled 57% as it warned on profits after being "too slow to address some project overspends”, while in the same industry Keywords Studios fell 44%, hit by strikes in the US and ballooning costs.
Splitting the two video game operators was semiconductor wafer product supplier IQE PLC (AIM:IQE), down 54%.
It never recovered after warning in March of a slump in orders which saw shares plummet 32% in one day.
Next on the fallers list is ITM Power PLC (AIM:ITM), down 42%.
The maker of electrolysers to produce green hydrogen had a rollercoaster year - while revenue nudged higher, losses mounted.
Big Technologies followed, down 38%, after the people-monitoring technology firm warned of lower margins despite a healthy rise in revenue.
Focusrite tries, but fails, to avoid top 10 but GlobalData escapes
Restore Plc (AIM:RST), down 35%, was knocked by a profit warning and dividend cut shortly after its finance chief quit left the business, never a good look, while RWS Holdings (AIM:RWS) also slipped 35% after impairment charges pushed the technology-enabled language services provider into the red.
Bringing up the rear was Focusrite PLC (AIM:TUNE), down 32%, which tried valiantly to avoid the top 10.
In an attempt to creep out of the standings, it agreed to buy audio technology firm Sheriff Technology Ltd for up to £3.6 million on 19 December, sending shares 8% to the good.
Leaving it even later, a special mention goes to GlobalData PLC, which forced this piece to be rewritten, after it announced on 21 December a group reorganisation and "transformational" investment agreement with Inflexion for a significant minority stake in its healthcare division.
The news sent shares soaring and took the company from top spot to missing out altogether.
Now that's dedication.