The AIM Index saw another day of gains on Thursday with that softer than expected US inflation data offering a leg-up heading into the close. By the bell, the junior index was just over seven points higher at 859.02, making for the highest close since mid-September.
- Synergia Energy +64%
- Asimilar Group +29%
- Portmeirion Group +17%
- Morses Club -62%
- Distil Plc -36%
Synergia [LON:SYN] topped the board adding 64% on the day. There’s no official news update here but the company advised over Twitter that it was planning a trip to India to meet potential farm out partners and that seems to have been driving interest. The 11% closing spread however also needs to be taken into account.
Asimilar Group LON:ASLR added 29% but this is a very thinly traded stock with a £3m market cap and a closing spread of 25%. Other than a modest piece of stake building by an existing minority shareholder there’s nothing else to report. Sustaining the gains could prove challenging given the spread.
Portmeirion Group LON:PMP gets the notable mention, having added 17% on the day. This morning’s trading update saw full year expectations being tweaked higher, with sales expected to come in 4% above forecasts and pre-tax profits some 10% higher.
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Morses Club LON:MCL is back on the radar, off 62% on today’s news of a proposed listing cancellation. Citing the increase costs of maintaining a listing and with over 50% of shareholders backing the action already, although there’s a general meeting scheduled for early February this looks like the story has already been written.
Distil Plc LON:DIS was off 36% at the bell. The premium drinks distiller update the market that revenues for October-December were some 48% lower. The catalyst here was the removal of a distribution agreement plus a reduction in stock availability for a UK retailer, but these are seen as one-off issues as the company shifts its business model to direct distribution. Perhaps most critical here however is management’s admission that the gin market is declining overall – something that Distil is to a degree insulated against with its rum and vodka lines.
