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(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.
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AIM - WINNERS
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Trinity Exploration & Production PLC, up 21% at 89.74 pence, 12-month range 70.00p-142.62p. The independent exploration and production company confirms discovery of oil at Jacobin-1 site in the Lower Cruse sandstones within the Palo Seco area of the Southern Basin, near Trinidad. The company is planning flow testing to confirm the durability of the reservoirs, which it is planning on starting in September. Chief Executive Officer Jeremy Bridglalsingh says: "This is a very significant and material achievement by the team. To find virgin oil in our mature acreage points to a step-change in our understanding of the hydrocarbon system, the remaining resource potential and how we can approach the exploitation of these resources."
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Tialis Essential IT PLC, up 15% at 50.00p, 12-month range 39.00p-75.00p.The IT service management company says pretax loss in the six months to June 30 narrowed to GBP653,000 from GBP1.2 million a year prior. Revenue surges 72% to GBP11.6 million from GBP6.7 million. Tialis Essential notes that six new lifecycle contracts have recently started or are about to start, as it touted a "very healthy pipeline of new prospects". Executive Chair Andy Parker says: "We will now see the benefit of the delayed contracts in H2 which fills us with confidence for the full year outturn to deliver against board expectations." Looking ahead, the company says it continued to build its customer and revenue base, and aims to work with organic initiatives to demonstrate growth.
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AIM - LOSERS
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Christie Group PLC, down 23% at 113.10p, 12-month range 100.00p-167.00p. The inventory and systems services provider says it now expects full-year performance to be materially below previous expectations. Christie notes continued delays in achieving contractual exchange on ongoing transactions in its agency and advisory business, Christie & Co, and alterations to the expected timing and outcome of certain significant portfolio assignments. The deal delays, which have now been a prevailing factor throughout the first half, are anticipated to last "at least until the end of the summer period" before more normalised exchange and invoicing activity resumes. However, it says it expects a "positive" second-half trading performance, ahead of first-half performance and more consistent with second-half trading in 2022.
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By Sophie Rose, Alliance News reporter
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