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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Itaconix PLC, up 28% at 5.70 pence, 12-month range 2.85p-12.80p. The US-based speciality polymer developer sees record performance in interim revenue, securing confidence in meeting market expectations for 2022. For the first half of 2022, Itaconix says it will achieve a record level in revenue, compared to the $1.4 million achieved in the first half of 2021. Due to demand remaining strong, and a rise in new orders from existing and new customers in the cleaning sector, the group is in a strong position to meet market expectations for revenue in 2022. Itaconix adds its production capacity is sufficient to meet customer needs, while its supply chain for raw materials have improved in recent months.
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ADM Energy PLC, up 13% at 0.79p, 12-month range 0.56p-3.24p. The natural resource investor, which holds a 51% stake in KOHN (UK) Ltd, says Federal High Court of Nigeria has further adjourned legal proceedings over its Barracuda oil field until November 16. Back in November, KOHN was notified by Noble Hill-Network Ltd of a dispute regarding KONH’s ownership of its 70% stake in NHNL. ADM and KONH instigated proceedings against NHNL at the Federal High Court of Nigeria, Lagos. Since then, the court has adjourned legal proceedings three times. On Friday, ADM says that the court has further adjourned legal proceedings over its Barracuda oil field until November 16.
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Live Co Group PLC, up 4.1% at 5.31p, 12-month range 2.86p-13.00p. The live events company says its its two-day Kpop.Flex festival in Frankfurt was a profitable success. Live Co sold 65,000 tickets at an average ticket price of €86. This was higher than the €70 per ticket previously guided by the company, meaning the event is expected to be profitable overall.
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AIM - LOSERS
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CVS Group PLC, down 3.9% at 1,591.00p, 12-month range 1,512.00p-2,835.00p. The veterinary services provider says it bought a veterinary centre and expects to take an impairment over its aborted Quality Pet Care deal. CVS bought OCVC Ltd, which trades as Old Courts Veterinary Centre, for £3 million. It is a veterinary practice in North Lincolnshire. In addition, CVS says it will recognise an impairment of around £12 million after the UK Competition & Markets Authority earlier this week said it will not progress a probe into CVS’s purchase of Quality Pet Care Ltd after it agreed to offload the business in question.
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