AIM WINNERS & LOSERS: Administration "ever more likely" for Amte Power

Thu, 20th Jul 2023 10:38

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Thursday.

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AIM - WINNERS

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Metals Exploration PLC, up 17% at 2.28 pence, 12-month range 0.8p-2.43p. The Philippines-focused gold producer reports record half-year and quarterly gold sales. In the first half, sells 46,186 ounces at an average price of USD1,939 per ounce, from 30,676 ounces at an average of USD1,878 a year before. Consequently, first-half revenue rises year-on-year to USD89.6 million from USD57.6 million. Says operations have exceeded expectations, and raises full year guidance to 78,000 to 81,000 ounces of gold, compared to the previous guidance range of 68,000 to 72,000. Also trims all-in sustaining cost guidance slightly.

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AIM - LOSERS

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Amte Power PLC, down 49% at 4.23p, 12-month range 3.8p-102p. The battery cell maker warns that being put into administration is "ever more likely", as its financial situation is becoming "ever more critical". Needs a solution implemented in the next few business days, but says there is no certainty of the outcome of its discussions with existing and potential investors. Says its shares on AIM would be suspended with immediate effect if it is put into administration. "Accordingly, should the company be unable to secure additional funding, the prospects for recovery of value, if any, by shareholders would be remote," it warns.

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Portmeirion Group PLC, down 28% at 284p, 12-month range 260p-522.65p. The homewares products maker warns that annual profit are likely to be "significantly" below market consensus. Says it expects sales in the first half to be down 3% year-on-year to GBP44 million. Says caution from US customers has continued since its May update, but it expects restocking to pick up, given resilient underlying end-consumer demand. Chief Executive Mike Raybould says the firm remains confident it is holding onto recent market share gains, and is "pleased" with recent product launches.

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By Elizabeth Winter, Alliance News senior markets reporter

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