The following stocks are the leading risers and fallers on AIM on Wednesday.
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AIM - WINNERS
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Argentex Group PLC, up 15% at 46.35 pence, 12-month range 26.00p-57.10p. The provider of foreign exchange services for institutions, corporates and high-net-worth private individuals reports weaker 2024 earnings but says positive momentum seen in the second half continues in 2025. Argentex swings to a pretax loss of £1.0 million in 2024, from profit of £7.3 million. Revenue rises 0.8% to £50.3 million from £49.9 million. Administrative expenses rise 23% to £50.2 million from £40.7 million. Revenue rises 6% on-year in the second half alone, after a 4% fall in the first. ‘The positive momentum delivered in H2 2024 has continued into the current financial year and we have made further progress in implementing our strategic growth agenda, with delivery remaining on-track,’ Argentex says. ‘With trading having commenced in Australia and Dubai and the planned launch of digital accounts and payments in summer 2025, we anticipate a return to revenue growth in FY25. We will continue to invest in growth, and as we accelerate our progression into new products and services, we remain confident in our medium-term outlook and continue to expect revenue growth in FY26 in the 15%-20% range.’
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Zinnwald Lithium PLC, up 10% at 5.78 pence, 12-month range 3.72p-12.72p. The lithium development company says the Saxon state government in Germany reaffirms its ‘strong support’ for the Zinnwald project. It has been deemed a ‘project of outstanding importance’. ‘Especially in light of increasing international tensions, reducing raw material dependence is crucial for Saxony, Germany, and the EU. The Zinnwald Lithium project plays an outstanding role in this effort. Ensuring an independent and sustainable supply of critical raw materials like lithium is vital for Saxony’s competitiveness as an industrial hub and for the transformation of the mobility and energy sectors,’ Saxony’s Economics Minister Dirk Panter says.
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AIM - LOSERS
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Brighton Pier Group PLC, down 65% at 6.06p, 12-month range 5.10p-49.00p. The owner of the Brighton Palace Pier announces a plan to exit AIM, following a probe into the benefits and drawbacks of a listing on London’s junior market. The leisure and entertainment business is holding a general meeting on April 22 which will see shareholders vote on the proposal. Should it be passed, its final day of dealings on AIM will be May 1. A matched bargain facility will be provided by JP Jenkins.
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