(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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Dekel Agri-Vision PLC, up 14% at 2.68 pence, 12-month range 1.8p-5.8p. The West Africa agricultural company gives a cheery update on its cashew processing plant in the Cote d'Ivoire. Says raw cashew nut buying season has begun, with quantity and quality as good as its expectations, while pricing was slightly better than expected. It said it processed 533 tonnes of raw cashews during the quarter, with daily production improve noticeably toward the end. Peeled cashews have been sold at average of EUR4,500, in line with expectations. Feedback from the US and European has been "favourable" compared to its competitors. "[This] positions us well to enhance prices as we become a consistent, high quality producer of cashews," Dekel says.
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Trakm8 Holdings PLC, up 14% at 20.8p, 12-month range 11.5p-22p. The telematics and data insight provider announces a contract win with Freedom Services Group. It will provide insurance data services and devices to Freedom Connect, including its advanced 'connectedcare' data sets and first notification of loss crash algorithm. The contract is for an initial term of three years and is expected to generate GBP6 million in revenue during the period. "This contract helps to underpin the board's expectations for the growth of Trakm8's insurance business," says Executive Chair John Watkins.
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AIM - LOSERS
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IG Design Group PLC, down 13% at 160p, 12-month range 46.6p-200.4p. The gift packaging and stationery designer and manufacturer warns it expects to incur a one-off, non-cash write-down to the historic goodwill value for some businesses in the UK. This was the result of "recently deteriorated" trading, and "very limited pricing expectations" for Christmas in 2023. The write-down is expected to significantly hit its annual results for the year ending March 31, 2024. Revenue in the recently completed financial 2023 is estimated to have been down 8% to USD890 million, with weaker trade seen in the Americas division. In the second half of the year, only continental Europe businesses did not see sales declines.
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Tekmar Group PLC, down 2.4% at 10.00p, 12-month range 5.65p-40.00p. The technology and service provider for the offshore energy markets says its strategic review has concluded, following the completion of a GBP4.3 million initial investment by SCF and Steve Lockard, along with a placing and retail offer of GBP2.1 million, and a GBP18 million convertible loan note facility from SCF. CEO Alasdair MacDonald says the firm is "delighted" by the outcome. "The funding we have secured through this process, significantly strengthens the company's balance sheet, providing working capital to support growth alongside significant ongoing capital to drive transformational growth both organically and through targeted, complementary acquisitions," MacDonald says.
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By Elizabeth Winter, Alliance News senior markets reporter
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Tekmar Group P. (TGP)
Trakm8 Hldgs (TRAK)
Design Group (IGR)
Dekel Agri (DKL)