The following stocks are the leading risers and fallers on AIM on Friday.
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AIM - WINNERS
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Invinity Energy Systems PLC, up 11% at 9.75 pence, 12-month range 8.75p-46p. Pretax loss for the first half of 2024 narrows to £11.1 million from £13.3 million the prior year. Revenue however plummets to £1.6 million from £14.8 million. Direct costs likewise nosedive to £2.8 million from £18.1 million. Says it plans to deliver against near-term corporate goals in the rest of 2024. Company also announces the sale of a 1.2 megawatt hour Mistral battery system to Gamesa Electric. Gamesa will integrate the system alongside solar and wind generation at a site in Spain.
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Totally PLC, up 8.8% at 9.25 pence, 12-month range 4p-11p. Wins new £5 million contract for insourcing services, and a £1.1 million contract extension for the delivery of NHS 111 online services, both in the North of England. Insourcing contract will be delivered by Pioneer Healthcare, mobilised ‘immediately’ with work delivered by the end of March. Extension is for existing services delivering NHS 111 ‘Speak to’ and online dispositions for a trust in the North East, and runs from April 1, 2024, to September 30, 2025. Ahead of AGM currently in progress, Chair Simon Stilwell said Totally is focused on ‘growing the number of high performing services we deliver on behalf of the NHS and other providers’, and is ‘preparing for the usual seasonal pressures faced by the NHS’. He adds that Totally ‘continues to trade in line with the guidance given at the 2024 full year results’; that new business opportunities remain steady; and it is actively engaging with a number of trusts.
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AIM - LOSERS
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Hummingbird Resources PLC, down 22% at 6.65p, 12-month range 5.64p-13.25p. Says it has secured a loan facility of $30 million from shareholder CIG SA, and is progressing with several other non-equity financing options. Facility consists of a new $20 million loan, which will be provided in tranches, and the consolidation of a previously announced $10 million short-term loan from CIG. Also commences a group-wide review intended to target cost efficiencies, improved governance and enhanced accountability. Says it will appoint a ‘chief transformation officer’ to lead said review, and that Chief Executive Officer & Interim Executive Chair Dan Betts will transition to executive chair. Company has appointed mining recruitment specialists to identify a new CEO. Finally, Hummingbird says that commercial production at the Kouroussa gold mine in Guinea has been delayed, with commencement now expected in the fourth quarter. Attributes delay to ‘lower-than-forecast mining volumes, delayed pit staging, and processing plant optimisation’.
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