AIM movers: Robinson upgrade and ex-dividends

At its AGM, packaging manufacturer Robinson (LON: RBN) announced that trading volumes are 12% higher so far this year. Revenues are 8% ahead and margins are improving. Cavendish upgraded its 2024 forecast operating profit from £2.5m to £3m. Net debt is £7m and is expected to rise to £8.3m by the end of 2024. There is surplus property valued at £7.4m. The share price jumped 22.5% to 122.5p.

Tertiary Minerals (LON: TYM) has received approval of the environmental project brief for the Mupala copper project licence in Zambia. Full exploration will commence next month. The share price improved 16.7% to 0.105p.

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Light Science Technologies (LON: LST) has secured a distribution agreement for its controlled environment agriculture technology with AgriLogiq Technical Systems in South Africa. The vertical farming market in South Africa is forecast to treble in size to $3.71bn by 2029. This is a five-year exclusive agreement subject to performance targets. The share price rose a further 13% to 3.05p.

Toys and collectibles supplier Character Group (LON: CCT) is successfully weathering the tough consumer market and interim trading has been good enough for management to say that full year pre-tax profit will exceed expectations. Interim revenues were flat, but distribution costs fell, so interim pre-tax profit has risen from £500,000 to £2.1m. Allenby has upgraded its 2023-24 pre-tax profit forecast from £6m to £6.6m. Share buy backs will reduce the cash pile but it should still be £9.6m by the end of August 2024. The share price increased 8.7% to 300p.

Keras Resources (LON: KRS) says that activities at the Nayega manganese mine in northern Togo have resumed under the management of the state-owned investment company. This should trigger advisory and brokerage fees for Keras Resources, and these can be reinvested in the company’s Utah phosphate project. The share price is 7.5% higher at 2.15p.

Echo Energy (LON: ECHO) has broadened its search for new investments to a wider range of natural resources projects. This includes a gold project in Latin America, which should not require large initial capital investment. The share price is 6.45% ahead at 0.0033p.

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Trading in Thor Energy (LON: THR) shares has been suspended on the ASX ahead of a capital raising to finance further exploration. The trading halt will continue until there is a further announcement or by next Monday. The share price fell 14.3% to 0.9p.

Metals Exploration (LON: MTL) says that two of its lenders are disputing an interest rate of 7% and they believe it should be 15%. This is because they claim that there have been defaults. The higher rate would increase the amount owed by $2m. The share price declined 7.62% to 4.85p.

Payments technology provider Eckoh (LON: ECK) expects full year revenues of £37.2m, which is 6% below the Singer forecast and 4% lower than 2022-23. However, Singer is maintaining its pre-tax profit forecast at £2.3m, down from £2.5m. Contracted business has grown strongly, particularly in North America. The newer contracts are larger and more complex, so they are taking longer to integrate, which is delaying revenue recognition. The share price dipped 4.71% to 40.5p.


TF & JH Braime (LON: BMTO) is paying a final dividend of 9.5p/share and the share price is unchanged at £21.50.

Epwin (LON: EPWN) is paying a final dividend of 2.8p/share and the share price slipped 2p to 92p.

Focusrite (LON: TUNE) is paying an interim dividend of 2.1p/share and the share price is unchanged at 380p.

Midwich Group (LON: MIDW) is paying a final dividend of 11p/share and the share price declined 6.5p to 421.5p.

One Media IP (LON: OMIP) is paying a final dividend of 0.06p/share and the share price is unchanged at 4.25p.

M&C Saatchi (LON: SAA) is paying a final dividend of 1.6p/share and the share price rose 0.25p to 196.25p.

Sylvania Platinum (LON: SLP) is paying a dividend of 1p/share and the share price fell 1p to 71p.

Tracsis (LON: TRCS) is paying an interim dividend of 1.1p/share and the share price is unchanged at 900p.

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