AIM movers: Pathfinder Minerals finalises disposal and Anpario profit slump

Pathfinder Minerals (LON: PFP) has signed a conditional sale and purchase agreement with Acumen Advisory for the disposal of IM Minerals. This was originally announced earlier this year and the deal includes claims against the Mozambique government. The deal requires shareholder approval. There is an initial £2m payment and a contingent payment of the higher of $24m or 20% of net recoveries from the claim. The share price jumped 16.7% to 0.525p.

Fevertree Drinks (LON: FEVR) reported a 11% rise in full year revenues to £344m. Underlying EBITDA was £39.7m and the guidance for this year is between £36m and £42m. US and European revenues increased, but UK revenues were lower even after raising selling prices. Even so, the share price has recovered 9.83% to 1184p – the highest level this year.

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Evgen Pharma (LON: EVG) has announced headline results from the phase Ib pharmacokinetic study with the enteric-coated tablet of SFX-01. This shows delivery of the active ingredient to the intestine, so there should be fewer gastrointestinal side effects. The share price is 7.79% higher at 4.15p.

NAHL Group (LON: NAH) is still in the process of reaping the benefit of its change in strategy, but it appears set for strong cash generation over the next three years as more personal injury business goes through its own law firm. The 2022 pre-tax profit of £600,000 was after profit shared with joint ventures. Net debt is £13.3m and could fall to £10.3m by the end of 2023 and to £6.3m one year later. The share price improved 6.23% to 37.5p. That is the highest it has been since last summer.

Full year results from Anpario (LON: ANP) were in line with forecasts with pre-tax profit falling by more than one-third to £3.7m. Net cash was £13.6m. Raw materials prices are reducing, which should help this year. Peel Hunt has reduced its 2023 earnings forecast by 35% to 11.2p. That will still cover an unchanged total dividend of 10.2p a share. The share price dived 29% to 220p.

Cloud video editing technology developer Blackbird (LON: BIRD) increased annual revenues by 38% to £2.85m. The loss increased to £2.2m. There was still £10m in the bank at the end of 2022. There are £3.43m of contracted revenues with £1.6m to be recognised this year. The share price slumped 24.2% to 8.15p.  

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Capital equipment supplier Mpac Group (LON: MPAC) reported a fall in pre-tax profit from £8.6m to £3.5m, but this was expected. There are signs that trading is recovering and the order book of £67.2m covers nearly two-thirds of forecast revenues for 2023. Pre-tax profit could recover to £7m this year. Adam Holland will succeed Tony Steels as chief executive. The share price fell 10.7% to 250p.

Shares in oil and gas explorer Longboat Energy (LON: LBE) fell a further 5.56% to 8.5p following yesterday’s 2022 results, which included a write down on four wells. The total loss was £15.5m. The next exploration well is not due until the third quarter. Longboat Energy is seeking acquisitions.

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