Revolution Bars Group (LON: RBG) trading remains strong and today’s trading statement has sparked a forecast upgrade by finnCap for the vodka bars operator. Refurbished bars have done particularly well, and two new bars should open by the end of June. They are the first new openings for four years. Cost control is helping to maintain margins despite inflation. Forecast pre-tax profit for 2021-22 has been raised from £500,000 to £2.7m. The share price has risen 1.1p to 16.25p.
The Verici Dx (LON: VRCI) share price fell 17% to 22p after the presentation of data for the post-transplant test Tuteva. Even so, house broker Singer Capital Markets is positive about the results and believes that the performance of the test should improve over time as more data becomes available for the AI technology. The positive predictive value of 60% in high-risk patients is already better than the current tests. Tuteva could be launched later this year. In the next few weeks, there will be news concerning the data from the trial of the Claranva test that generates a risk score for early acute rejection for potential kidney transplant patients.
Condor Gold (LON: CNR) has raised £3.25m at 28p per unit so that it can complete the feasibility study on the La India god project in Nicaragua. Once that is done Condor can try to secure project finance to construct a mine. Each unit is one share and 0.5 of a warrant exercisable at 35p a share over a three-year period. The share price declined by 3.75p to 26.75p.
The two worst AIM performers yesterday continue to fall. Subsea cable protection services provider Tekmar Group (LON: TGP) has taken over from video games publisher Devolver Digital (LON: DEVO) as the worst performer of the day. Tekmar shares fell from 39p to 24.2p on Monday as it sought a strategic partner or buyer. They have fallen further to 13.25p, which is less than 10% of the flotation price five years ago. Yesterday, Devolver Digital slumped from 136.5p to 67.5p and have continued to decline to 58.5p. A relatively small decline in forecast revenues had a much bigger impact on profit.