AIM movers: Argentex benefits from Sterling volatility and Tortilla Mexican Grill slumps

Foreign exchange services provider Argentex (LON: AGFX) says that it will exceed expectations for the nine months to December 2022. Sterling volatility has provided additional volumes. The next figures will be for the six months to September 2022. They will be published on 8 November and will show a 75% increase in revenues to £27.4m. The share price moved up by 13.5% to 102.75p.

Maritime technology developer SRT Marine (LON: SRT) says systems and transceivers revenues have grown. More systems are being installed following the ending of Covid restrictions around the world. Interim revenues quadrupled to £18.8m and pre-tax profit should be more than £1.5m. finnCap believes that full year pre-tax profit could reach £6.8m and the trading statement provides more confidence in this estimate. The share price is 10.3% higher at 29.5p.

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Security technology provider Thruvision (LON: THRU) has been awarded a framework contract by US Customs and Border Protection. This is for an initial 12-month term with options to extend to 2026. An initial order worth $7m has been made for technology to scan for narcotics and prohibited items. That is as much as the value of all orders from this customer in the past year. The share price rose by 8.6% to 24.1p.

Future Metals NL (LON: FME) is developing a strategy for the Panton PGM-Ni project in Australia. There has been an increase in the JORC minerals resource estimate to 5Moz of contained PGM (3E) and 239,000 tonnes of contained Nickel. A placing raised £500,000 at 7p a share. That is above the current share price even though it rose by 8% to 6.75p.

Tortilla Mexican Grill (LON: MEX) increased interim revenues by 30% to £26.9m, including like-for-like growth of 19%. The restaurants operator reported a slump in pre-tax profit from £2.63m to £264,000. That was mainly down to a reduction in government assistance from £1.88m to £211,000, plus costs relating to the Chilango acquisition. There has also been general cost inflation. The opening programme is ahead of target. The share price has dived 30.1% to 102p. That is a new low.

Digital transformation services TPXimpact (LON: TPX) continues to decline after announcing on Friday trading has been below expectations the departures of chief executive Neal Gandhi and finance director Oliver Rigby. The share price has fallen a further 18.8% to 32.5p, having been 105p on Thursday night.

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IT managed services provider IDE Group Holdings (LON: IDE) reported its results on Friday afternoon. Revenues from continuing operations fell from £7.6m to £6.7m and the loss increased from £120,000 to £1.44m. The business was cash generative, though, because £1m of loan note interest is not payable until the loan notes mature. The share price declined by 16.2% to 0.775p.

US oil and gas developer TomCo Energy (LON: TOM) has drawn down the second tranche of £375,000 from its unsecured convertible loan note facility and it is seeking a larger debt funding package. The drawdown is accompanied by the issue of 50 million warrants exercisable at 0.75p each. Part of the first tranche of convertible loan notes (£200,000 plus £10,000 interest) have been converted at 0.351917p a share. The shares fell 16.8% to 0.395p.

Verici Dx (LON: VRCI) has rebranded its post-transport blood test from Tuteva to Tutivia. The commercial launch is expected later this year. The share price fell 6.45% to 14.5p.

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