27th Feb 2025 10:29
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Thursday.
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AIM - WINNERS
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Mercantile Ports & Logistics Ltd, up 36% at 1.32 pence, 12-month range 0.95p-2.2p. The operator and ongoing developer of a port and logistics facility in Navi Mumbai in western India's Maharashtra state expects decreased revenue of GBP4.6 million for 2024, compared with GBP5.5 million in 2023. Explains that Maharashtra's election caused some contracts connected to major infrastructure projects in the region to pause pending the outcome, but that activity "has begun to flow again" now that elections are complete. Adds that it is close to achieving a resolution in its debt position, with the support of major shareholder Hutch Ventures, after "many months" of discussions to renegotiate its loan facility. The slow pace of these has been "a source of some frustration" and has hampered its ability to secure longer-term contracts. Further comments: "The levels of enquiry to use the facility are at record levels and the company is confident that, following completion of the banking solution, the company will return to the levels of growth that the board had forecast."
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Totally PLC, up 8.3% at 3.58 pence, 12-month range 3.1p-11p. The Derby, England-based provider of healthcare, corporate fitness and wellbeing services announces two contract renewals related to urgent care service delivery. The first contract is for delivering GP out-of-hours services in the North East of England and is worth around GBP4 million per year, totalling GBP26 million approximately over its full five-year term. The service will start on June 1 and has the option to extend for a further 20 months. The second contract is for 111 and 999 support services for a northern ambulance trust, running for two years from April 1 at around GBP1.5 million per year with the option to extend for a further year. This would give a total value of GBP4 million.
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AIM - LOSERS
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CMO Group PLC, down 80% at 0.85p, 12-month range 0.775p-23.5p. The Plymouth, England-headquartered online building materials retailer is proposing the voluntary cancellation of the admission of its ordinary shares from trading on AIM. Says it "has undertaken a review of its strategic options" and settled on this as the best course of action. "Despite an extensive search the directors have concluded that there is no route to source the additional funds the group requires while the company remains on market," CMO says, noting that its "additional funding requirements...for near-term working capital requirements and to support medium-term growth towards the end of 2025" were "central" to its decision. Says it expects the cancellation to give it access to significant cost savings, and to sources of potential additional funding to support its immediate requirements and future growth. Expects cancellation to take effect on March 27, assuming that the resolution for this is passed at the general meeting on March 17.
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By Emma Curzon, Alliance News reporter
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