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The following stocks are the leading risers and fallers on AIM in London on Friday.
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AIM - WINNERS
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PetroNeft Resources PLC, up 17% at 0.35 pence, 12-month range 0.22p - 4.88p. Continues negotiations with Petrogrand AB regarding its loan facility with a current redemption value of $2.5 million and which matured on Thursday. Says it cannot predict the outcome of the negotiations. The oil and gas exploration and production firm adds that is continuing to review options available to it as well as considering all options ‘within the context of the current geopolitical environment to maximise value for shareholders’.
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Time Finance PLC, up 6.4% at 20.22 pence, 12-month range 15.00p - 27.69p. Chief Executive Ed Rimmer says the firm’s performance during the six months that ended November 30 have been ‘particularly pleasing’. The specialist finance provider reports revenue of £13.2 million in the period, up 12% against £11.8 million the year prior. Pretax profit jumps 67% to £2.0 million from £1.2 million the previous year. Now expects full-year to be at least in line with market expectations thanks to ongoing positive momentum in trading.
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AIM - LOSERS
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Sareum Holdings PLC, down 15% at 59.50 pence, 12-month range 55.10p - 345.00p. Reports ‘good progress’ in the year ended June 30 and says it remains ‘confident’ in the future despite some recent setbacks. These setbacks include the UK Medicines & Healthcare Products Regulatory Agency not approval the clinical trial authorisation for SDC-1801, the firm’s psoriasis treatment. Confirms it has provided a preclinical data package to support the CTA application. Adds it also assessing regulatory opportunities in other countries.
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Real Good Food PLC, down 13% at 1.35 pence, 12-month range 0.90p - 3.25p. Widens its interim loss as the food manufacturer battles with ‘challenging’ market conditions. In the six months that ended September 30, reports a a pretax loss of £3.8 million, widening from £1.2 million a year ago. Revenue falls 20% to £15.9 million from £19.9 million. Chair Mike Holt says: ‘Market conditions have been very challenging over the last twelve months, and show no sign of easing in the near-term, due to a perfect storm of rising costs and lower revenues. The group is not just hunkering down, it has put into effect a radical programme of reform to return it to profitability and to ensure that profits will be sustainable.’
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By Heather Rydings, Alliance News senior economics reporter
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