(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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Warpaint London, up 15% at 124.00 pence, 12-month range 35p-124p. The UK-based cosmetics retailer says trading in the second half of 2020 was stronger than previously anticipated and improved trading has continued to be experienced in the first quarter of 2021. Sales for the first three months of 2021 are ahead of the prior year and product gross margin also improved in the first quarter of 2021. Sales of the company's W7 branded products through Tesco stores in the UK continue to perform well, while activities in the US have been successfully refocused and restructured with the aim of increasing margin, reducing costs and building sales.
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Avacta Group, up 12% at 261.25p, 12-month range 52.00p-291.80p. The UK-based biotechnology company reports positive data from the clinical validation of its AffiDX SARS-CoV-2 antigen lateral flow test. Data from the clinical study conducted in Europe on 98 positive Covid-19 samples demonstrate "excellent" performance in identifying the SARS-CoV-2 virus. These data points now will be combined with stability and other performance data from ongoing studies to finalise the technical file for CE marking the AffiDX SARS-CoV-2 antigen lateral flow test for professional use, allowing the company to begin commercial roll-out in Europe in May, it says.
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Tatton Asset Management, up 9.8% at 415.00p, 12-month range 244.00p-428.10p. The investment company expects its results for the year to the end of March to be ahead of all analysts' forecasts. Tatton says it further improved its performance in the second half of the year with net inflows of GBP427 million, an increase of 30% on the first six months of the year. The year ended with assets under management at GBP9.0 billion, up from GBP6.7 billion a year before.
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Hargreaves Services, up 8.6% at 336.51p, 12-month range 190.00p-349.90p. The UK-based engineering services company reports improved trading results from its German joint venture and material improvement in cash levels. Hargreaves Raw Material Services is exceeding expectations, with favourable market conditions have benefiting the business. Hargreaves Land, the company's property development business, also continues to trade in line with expectations. Hargreaves Services also says it has experienced material cash inflows due to working capital reductions. As a result, it now expects that year-end cash balances will be substantially higher than market expectations.
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AIM - LOSERS
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Lekoil, down 17% at 1.57p, 12-month range 1.16p-3.06p. The Lagos, Nigeria-based oil exploration and production firm reports the resignations of Michael Ajukwu and Mark Simmonds as non-executive directors. Ajukwu, who had just become chair in January, has decided to step down from the board from Wednesday. Lekoil says Anthony Hawkins will act as interim chair until a new chair is appointed.
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Filta Group Holdings, down 7.2% at 141.54p, 12-month range 57p-160p. The waste management service company says revenue fell 34% in 2020 to GBP16.4 million, reflecting impact of Covid-19. Despite impact of lockdowns, the company says it gained 935 and 750 new customers in 2020 in the US and UK, respectively. Pretax profit, excluding non-cash charges remained positive at GBP600,000 compared to GBP2.6 million posted for 2019. "With the Group now much more efficient and with a strong pipeline of sales in place, I believe the outlook is very promising as we exit these challenging times," says Chief Executive Jason Sayers.
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By Evelina Grecenko; evelinagrecenko@alliancenews.com
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