(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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Argentex Group PLC, up 12% at 101.63 pence, 12-month range 66.86p-110.27p. The foreign exchange provider expects a 75% rise in interim revenue year-on-year, forecasting GBP27.4 million for the six months to September 30. Notes strong client demand, as corporate client numbers jump to 1,393 from 1,242 a year before. Says recent historic lows in sterling have provided "exceptional short-term trading conditions".
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Future Metals NL, up 12% at 7.0p, 12-month range 6p-14.4p. The Perth-based platinum exploration company raises GBP500,000 in placing of 7.1 million shares at 7p. Also narrows annual loss for year to June 30 to AUD4.3 million from GBP6.3 million year-on-year.
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AIM - LOSERS
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Tortilla Mexican Grill PLC, down 28% at 105p, 12-month range 102.05p-200p. Says interim pretax profit shrunk to GBP264,052 from GBP2.6 million the year before, for the 26 weeks ended July 3. "Sales over the summer period were more challenging than anticipated, due to a combination of train strikes, the heatwave, and pent-up consumer demand for overseas holidays," the Mexican restaurant owner explained. Times remain tough with cost pressure still elevated, it noted.
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TomCo Energy PLC, down 16% at 0.40p, 12-month range 0.36p-0.75p. The Utah oil explorer draws down GBP375,000 of GBP750,000 unsecured convertible loan note facility, in "second and final tranche". Says funds will serve to bridge financing needs as it seeks to progress and finalise funding negotiations for a larger debt funding package for Greenfield and Tar Sands Holdings II site. "There can be no certainty that such larger funding arrangements will ultimately be successfully secured or as to the terms of any such debt facilit," it says.
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By Elizabeth Winter; elizabethwinter@alliancenews.com
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Argentex Group. (AGFX)
Future Metals (FME)
Tortilla Mexic (MEX)
Tomco Energy (TOM)