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The boss of one of Aim’s newest constituents has insisted he is still “enjoying the ride” after the stock’s slump in the months following its London IPO.
Power Probe, which is based in North Carolina and develops power tools for car mechanics, debuted on the junior Aim market in December 2025, one of only a handful of firms to list in London that year.
But after a strong start the stock took a beating, shedding nearly 40 per cent since the beginning of the year. On Monday the firm revealed that becoming a public company had also caused it to take a hit to its earnings, with additional costs of around $600,000 (£450,000) in the first half of the year alone.
But chief executive Chema Garcia insisted the firm was enjoying its experience on the London Stock Exchange.
“At this new stage we’re learning a lot from the City and from the stock market at a time when we’re expanding and scaling our business with new supply chains and new territories,” he said.
“Hopefully we’ll be able to display [that] properly to the market and I’m pretty sure with all the deliveries we are doing [we will get] the appropriate price feedback from the market.”
He added the firm’s IPO was “not the end of the project it’s just the beginning, it’s just opening a new stage and we’re enjoying the ride.”
Power Probe posted a 16.5 per cent drop in revenue in the first six months of the year to $17.7m, which it put down to the timing of the launch of new products, which was set to be weighted towards the second half of the year.
The company, which makes circuit testers, clamp meters and workshop lighting, saw its adjusted pre-tax earnings slide by around 30 per cent to $3.8m during the period, in part thanks to the costs of being a listed company.
Power Probe issued an interim dividend of 1.6p per share. The stock was unchanged on Monday following publication of the results.