1st Jul 2025 10:44
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Tuesday.
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AIM - WINNERS
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Burford Capital Ltd, up 17% at 1,001.00 pence, 12-month range 800.00p-1,247.00p. The litigation finance provider with offices in London and New York highlights "two significant developments". First, Burford notes the US Senate Parliamentarian on Monday ruled that proposed tax provisions relating to litigation finance are not eligible for inclusion in the budget reconciliation bill. Also on Monday, Burford noted the US District Court for the Southern District of New York ordered Argentina to transfer its class D shares in energy company YPF SA, around 51% of YPF's outstanding shares, to a global custody account at Bank of New York Mellon Corp within 14 days and to instruct BNYM to transfer those shares to Petersen Energia Inversora SA and Eton Park Capital Management LP within one business day. Petersen and Eton Park are plaintiffs represented by Burford. The claims relate to Argentine government-controlled energy company YPF, of which a majority of 51% was renationalised in 2012 after having conducted an initial public offering. "While this is a positive development in the enforcement campaign against Argentina, it is entirely possible that it will be the subject of further judicial proceedings," Burford allowed.
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AIM - LOSERS
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Mpac Group PLC, down 25% at 320.75p, 12-month range 280.00p-590.00p. The Tadcaster, North Yorkshire-based high-speed packaging and automation solutions firm said revenue in the first six months of 2025 was in line with its expectations, despite growing headwinds from US tariffs. Its closing order book for the Original Equipment unit on June 30 is estimated around GBP90.0 million, against GBP118.5 million at the end of December. This will provide "materially lower than anticipated cover for [second-half] revenue," Mpac says. The company will close its facility in Cleveland, Ohio, and reduce capacity at its facility in Mississauga, Canada, to optimise its US cost base amid "current slower market conditions" in the region. No impact on customers is anticipated, though the restructuring will incur non-cash impairment charges of around GBP11.5 million.
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Kitwave Group PLC, down 22% at 249.22p, 12-month range 230.00p-355.00p. The North Shields, England-based food wholesaler reports pretax profit of GBP5.6 million for the six months that ended April 30, down 19% from GBP6.9 million a year before, even as revenue grows 27% to GBP376.2 million from GBP297.0 million. The decline in profit is largely due to distribution expenses increasing 42% to GBP39.6 million from GBP27.9 million and administrative expenses rising 33% to GBP35.4 million from GBP26.6 million. Kitwave declares an interim dividend of 4.00 pence per share, up 3.9% on-year from 3.85p. Looking ahead, Kitwave says it no longer believes it will be able to offset the increases in the UK to employer national insurance, which will increase its costs during the second half and beyond. The firm now expects to report adjusted operating profit between GBP38.0 million and GBP40.5 million for the year ending October 31. At best, this would be a 19% growth from GBP34.0 million in financial 2024.
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By Emily Parsons, Alliance News reporter
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Related Shares:
Burford CapitalMpac Group PlcKitwave