(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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Abingdon Health PLC, up 40.00 pence, 12-month range 7.00p-85.00p. The lateral flow test developer and manufacturer confirms that it has reached a settlement agreement with the UK Department for Health & Social Care on the outstanding invoices payable by DHSC for lateral flow tests and component stock. Abingdon says the agreement is in full and final settlement of the outstanding debt of GBP8.9 million, excluding interest. Once received, the funds will provide additional working capital and be deployed to help fund various growth initiatives, it adds.
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Symphony Environmental Technologies PLC, up 16% at 18.26 pence, 12-month range 13.66p-28.93p. The plastics and rubber technology developer signs a supply agreement with Mexican bread manufacturer Grupo Bimbo for its d2p antimicrobial technology. It says the agreement represent a "major commercial advance" for its d2p antimicrobial technology used in the plastic film of bread packaging. Symphony will supply its d2p antimicrobial masterbatch to Grupo Bimbo's nominated bread packaging manufacturer across the American continent for three years.
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IG Design Group PLC, up 16% at 79.00p, 12-month range 46.6p-570.00p. The consumer gift packaging company posts an annual revenue rise but delivered a sharp profit decline as supply chain issues hit margins. IG Design, however, expects a "slight" operating margin for the new year as it passes on cost inflation to customers. IG Design reports revenue of USD965.1 million in the year ended March 31, up 11% from USD873.2 million. Pretax profit, however, slumped 85% to USD2.2 million from USD14.7 million. Looking ahead, says operating margins are forecast to improve gradually over the year, particularly in Design Group Americas.
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AIM - LOSERS
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Jangada Mines PLC, down 22% at 3.65p, 12-month range 3.56p-10.80p. The mining company says its Pitomberias vanadium project in Brazil may need additional funding, and it cautioned on an uncertain timeline to production. Jangada warns that additional funding will be required for the Pitombeiras project as it moves towards production, a key goal for the group. As a result, Jangada is engaged in an ongoing assessment and will consider the sourcing of funding over the next three to nine months. The timing of construction of the plant is currently unknown, and the company cautioned it was too early to say definitively whether the project would move into production in 2022.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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Jangada Mines (JAN)
Design Group (IGR)
Abingdon Healt. (ABDX)
Symphony Env. (SYM)