In all, London’s junior market faced a tough year, not least as small-caps left in droves to seek better fortunes elsewhere.
The AIM all-share headed into the Christmas week 6.5% lower for 2024 - a year defined by a drop in the number of companies on the market below 700 for the first time since 2001.
That said, it was not all doom and gloom for London’s small-caps.
Pan African and Cohort top winners
Pan African Resources racked up a 100% gain for the year, placing it neck and neck with Cohort PLC (AIM:CHRT) to take the crown as the AIM-100’s biggest winner for the year.
Given gold’s repeated record-breaking streak earlier this year, Pan African’s hefty surge may not come as a surprise.
Indeed, the African-focussed producer boasts production capacity in excess of 200,000 ounces of gold per annum, with its recent acquisition of Tennant Consolidated Mining set to boost this going into 2025.
For Cohort, rising geopolitical tensions have left the defence contractor raking in orders, including through deals with NATO and the UK government this year.
Cohort earlier this month reported a 69% surge in interim adjusted operating profit to £10.1 million and highlighted a record order book value of £541.1 million.
Nexxen, Griffin Mining, LBG Media among other winners
In third place, Nexxen International (AIM:NEXN) Ltd racked up a 95.3% gain, boosted by November’s news of a swing to third-quarter profit and commentary that the advertising technology firm had a competitive edge in artificial intelligence.
A 68% surge for Griffin Mining Ltd, backed by April’s update of record first-quarter production since it commissioned the Chinese Caijiaying Mine in 2005, placed it fifth on the list.
LBG Media PLC (AIM:LBG), best known for its LADbible brand, closed out the top-five AIM 100’s risers with a 61.9% share price increase over the year.
This year brought both the Euro Championship and the Olympics, in turn boosting advertising spending and benefiting LBG’s youth-orientated LADbible.
September interims showed record half-year audience figures of 494 million for the group, as revenue surged 55% to £42.3 million and LBG swung to a £7.1 million pre-tax profit.
Victoria struggles and YouGov’s landslide loss
At the other end of the AIM-100, Victoria PLC (AIM:VCP)’s struggles with a downturn in flooring demand placed it top of the losers.
Carpet maker Victoria, which dates back to 1895, suffered a 78.6% drop as woes seen late last year carried over into 2024.
Losses surged from £18.7 million to £167.8 million over the first six months of its latest financial year as wider pressures on consumer spending took their toll.
Polling company YouGov PLC (AIM:YOU) followed with a 66.1% swing into the red, despite a record-breaking year for elections which saw some 3.7 billion people vote.
While known for its polling services, it was YouGov’s main revenue-generating consumer data and analysis wings that disappointed as bookings fell short of anticipations.
A profit warning in June saw investors overwhelmingly vote with their feet, before finals last month showed adjusted operating profit up 1% at £49.6 million, but off initial market estimates for £67 million.
Focusrite PLC (AIM:TUNE)’s 56.8% drop placed it third on the list of the AIM-100’s largest fallers, ahead of Impax Asset Management (AIM:IPX) Group PLC and IQE PLC (AIM:IQE).
Shares in music and audio products group Focusrite took a tumble most recently in August as it warned a mixture of market weakness, Red Sea shipping delays and customer destocking would hit results.
Figures in November then showed a drop in full-year operating profit from £24.3 million to £5.7 million, as “significant global economic and political challenges” were reiterated.