7th May 2024 10:53
(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.
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AIM - WINNERS
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Totally PLC, up 19% at 6.25 pence, 12-month range 3.73p-22.75p. In a trading update for the financial year that ended March 31, the healthcare services provider says it expects revenue to fall to GBP106 million from GBP135.7 million a year earlier, but with earnings before interest, tax, depreciation and amortisation to double to around GBP2.3 million from GBP1.1 million. Totally says the improved bottom-line was against a tough operational backdrop and follows a review by the board of its "structures, systems and processes to ensure it remains focused on growth and the provision of support to its commissioners when required". Looking ahead, Chief Executive Officer Wendy Lawrence comments: "There is no doubt that the market continues to be difficult, and as commissioners have considered the actions required to move forward, we have also ensured that our house is in order. We have robustly addressed the cost base, which ultimately protects the services we deliver to patients, our workforce and long-term shareholder value. These cost savings supported our performance for [financial] 2024 and will continue to do so in future years. I am delighted to see new business opportunities emerging as we turn our focus to a return to profitability and growth."
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Cap-XX Ltd, up 12% at 0.087p, 12-month range 0.058p-2.40p. The manufacturer of supercapacitors for portable electronic devices says trading for existing products remains strong and in line with management forecasts after recently completing fundraise. Its shares were returned to trading in London late last month. Chief Executive Officer Lars Stegmann comments: "We look forward to the next exciting phase for the company, as we prepare for our new product launches, supported by a strengthening sales and distribution team. We believe this has the potential to transform the commercial success of CAP-XX."
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AIM - LOSERS
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Bushveld Minerals Ltd, down 14% at 0.60p, 12-month range 0.50p-4.59p. The vanadium producer operating the Vanchem and Vametco processing facilities in South Africa agrees a deal with Southern Point Resources Fund I SA LP to sell Vanchem for up to USD40.6 million. This includes an initial USD20.6 million plus a deferred consideration of between USD15 million and USD20 million. The proposed terms replace those announced in November for the sale of a 50% interest in Vanchem to SPR. Bushveld says the disposal is conditional upon shareholder approval.
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By Greg Rosenvinge, Alliance News senior reporter
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