The following stocks are the leading risers and fallers on AIM in London on Thursday.
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AIM - WINNERS
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Warpaint London PLC, up 16% at 128.61 pence, 12-month range 101.11p-240.00 pence. Sees ‘strong’ trading in the first half of 2022, with this momentum continuing into the second half of the year. Based on this, now expects its 2022 results to be ahead of market expectations. Group sales for 2022 are now expected to be at least £61 million and pretax profit is expected in excess of £9 million. In 2021, Warpaint recorded £50.0 million of revenue and it swung to a pretax profit of £3.7 million.
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AssetCo PLC, up 16% at 72.20 pence, 12-month range 57.13p-180.00p. Confirms it is in talks to sell some or all of its stake in Parmenion Capital Partners which was once a unit of abrdn. AssetCo holds about a 30% stake in Parmenion. Sky News on Wednesday said Parmenion shareholders are mulling selling a ‘significant’ stake in a deal which values the investment manager at up to £400 million, roughly four times what abrdn sold it for.
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Chaarat Gold Holdings Ltd, up 8.6% at 10.30 pence, 12-month range 0.088p-10.45p. In the six months ended June 30, swings to a pretax loss of $1.5 million from a profit $3.5 million the previous year. Cites inflation and an adverse Armenian dram against the US dollar exchange rate for the swing. Revenue, however, climbs to UD50.4 million from $48.1 million on stronger commodity prices and a higher volumes of own ore sales. Says it remains on track to deliver on its full-year guidance of between 56,000 and 62,000 ounces of ore. Adds that discussions with potential project finance providers for Tulkubash are ongoing. Separately, the company waives the requirement of a mandatory offer from Labro Investments upon the acquisition of 7.5 million shares.
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AIM - LOSERS
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Mpac Group PLC, down 8.7% at 230.60 pence, 12-month range 210.00p-658.00p. In the six months ended June 30, reports a fall in pretax profit but a rise in revenue as it manages short-term operational challenges. Pretax profit drops to £1.1 million from £2.8 million the previous year, while revenue climbs to £50.6 million from £44.2 million. Notes lower margins due to cost inflationary pressures and ongoing global supply chain disruption. Nonetheless, company says it is on track to meet its revised market expectations for the full-year.
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Curtis Banks Group PLC, down 5.5% at 247.00 pence, 12-month range 229.66p-310.00p. Swings to an interim loss due to a goodwill charge for its subsidiary Dunstan Thomas Group, while interim revenue remains broadly flat. For the six months that ended on June 30, the Bristol-based self-invested personal pension provider swings to a pretax loss of £5.3 million from a profit of £5.1 million a year earlier. The firm says the figure was hurt by a £9.8 million goodwill impairment charge relating to Dunstan Thomas deal. Roughly maintains its overall revenue of £32.2 million during the period, compared to £32.3 million a year ago. Declares an interim dividend of 2.5 pence per share, unchanged from a year prior.
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