(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.
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AIM - WINNERS
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Touchstone Exploration Inc, up 30% at 109.00 pence, 12-month range 0.72p-113.95p. The Calgary, Alberta-based upstream oil and gas company says it finished drilling the Royston-1 exploration well, which encountered substantial hydrocarbon accumulations. Says well was drilled to a total depth of 10,700 feet, and mud logging and wireline logs have indicated hydrocarbon accumulations in the Lower Cruse, Karamat and Herrera sections. An aggregate 393 gross feet of hydrocarbon pay was identified in two unique thrust sheets in the Herrera sands from 9,700 feet to total depths. The well is being cased and prepared for production testing at the Herrera formation.
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Judges Scientific PLC, up 8.1% at 7,570.00p, 12-month range 4,846.40p-7,600.00p. Shares in the scientific instrument sector investor hit a fresh 12-month high. The firm reports a robust performance in the first half of 2021. For the six months ended June 30, Judges Scientific posts a pretax profit of GBP6.7 million, up 55% from GBP4.3 million in the same period a year before. This was on revenue which grew 15% year-on-year to GBP43.0 million from GBP37.4 million. Judges Scientific remains confident that its performance for 2021 will be ahead of consensus expectations. Declares an interim dividend of 19.0 pence per share, up 15% at 16.5p a year before.
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AIM - LOSERS
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Argos Resources Ltd, down 18% at 1.13p, 12-month range 1.10p-3.80p. Shares in the Falkland Islands-based exploration firm hit a fresh 12-month low. For the six months ended June 30, loss from operations widened to USD200,000 from USD192,000 as a result of higher administrative costs. During the period, company noted a recovery in the oil industry with a rise in oil prices and increasing activity, but it is still hampered by continued Covid-19 restrictions. In response, Argos requests an extension to the term of licence PL001 to gain more time to recover from the downturn, which was granted to May 1, 2022.
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In The Style Group PLC, down 13% at 17.00p, 12-month range 160.00p-264.80p. Shares in e-commerce womenswear fashion brand hit a fresh 12-month low after warning profitability will be hurt by freight and supply chain disruption of recent months. In the Style warns that, despite its attempts to use the most efficient channels whenever possible to ship its products, it expects that higher freight costs and disruption to the timing of shipments are expected to remain for at least the remainder of the current financial year ending March 31, 2022.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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Judges Scientific (JDG)