As foreshadowed by Shares, premium branded cookers specialist AGA Rangemaster (AGA) warms up 4.75p to 177.75p on well-received full-year figures and an upbeat outlook statement. Operating profits surge 26.2% to £8.2 million at the operationally-geared group as the housing market revival boosts second-half sales.
Troubled engineer Redhall (RHL:AIM) is raising £7.5 million in a discounted share placing to help strengthen its balance sheet amid turnaround efforts. Despite expanding its share capital by 39%, investors greet the news with a smile, sending its share price up 2.4% to 43p as the cash injection helps to reduce the company’s previously-high financial risks. We look at the fundraising news in more detail here.
European floorcoverings distributor Headlam (HEAD) hops 2.8% higher to 475.13p as investors look past a 5.1% taxable profits fall to £26.4 million for 2013. Instead they focus on recent sales improvement signs and the fact the Birmingham-based group grew UK like-for-like sales by 1.5% last year, signalling market share gains against a tough industry backdrop.
News that mobile commerce specialist MoPowered (MPOW:AIM) has secured 20 new clients in the first two months of the year sends its share price up 11.4% to 117.5p. The customers include multi-chain books retailer The Works and online fashion seller Atterley Road. MoPowered is a running Shares Play of the Week.
A heavily-discounted share placing to raise £2.1 million sends Sierra Leone-based miner Sula Iron & Gold (SULA:AIM) down 18% to 2.4p. The company reckons the iron ore mineralisation in African Minerals' (AMI:AIM) vast Tonkolili deposit runs into its own licence area.
XLMedia has confirmed plans to join Aim, targeting 21 March as its admission date. The marketing company helps to attract visitors to online gambling websites with clients including 888 (888), Ladbrokes (LAD) and William Hill (WMH). XL's chairman is former Ladbrokes boss Chris Bell. For other IPO news, make sure you read our complete guide to incoming, rumoured and recent market entrants.
Insurance broker Brightside (BRT:AIM) rises 2.5% to 20p after extending its white label vehicle insurance deal with Asda for another three years. The new agreement could see Brightside generate 400,000 quotes through the supermarket chain’s website each year.
Respiratory disease drug specialist Verona Pharma (VRP:AIM) plummets 23.7% to 2.6p on last night's announcement of a £14 million placing and open offer on a 36.4% discount. The proceeds will fund product development and pre-clinical trials.
North Sea oil firm Independent Oil & Gas (IOG:AIM) gains 23.2% to 43.75p after announcing a $50 million debt facility with an unnamed lender to help develop its assets in the North Sea – including the Blythe field. It follows Wednesday's (5 Mar) £468,000 acquisition of a gas licence located in close proximity to Blythe.
Industrial castings maker Goodwin (GDWN) advances 4.1% to £38.00 as it announces a near 20% bump in year-on-year profits for the first nine months of its fiscal year to just over £18 million. The company – whose year-end is 30 April – says trading 'remains buoyant'.
Kazakhstan-based oil and gas producer Tethys Petroleum (TPL) gains 7.6% to 33.5p after saying the first shallow gas well in its 2014 drilling programme is successful. The AKK17 well is expected to flow at a similar rate to AKK15 which tested at 7 million cubic feet per day. The company is expected to spud the follow-up AKK18 well next week.