Companies: ARC    CDG    MJW    MXP    TIME    VOG    WRT   

AIM is dominated by resources stocks, so it was unsurprising that the index shed a few more points this week – to 996.7 – following the fall in the oil price to a five-month low. The FTSE 100 nonchalantly shrugged off this problem, roaring to a four year high by midday on Friday before retreating a few points to end the session at 5495.40.

For pure excitement though, nothing compared to Victoria Oil & Gas (VOG). This stellar performer put on another 31.25 per cent to move to 147p, more than 300 per cent ahead of its Monday morning starting price. This followed confirmation that it had discovered half a trillion cubic feet of recoverable gas in Russia.

Conroy, Max and Timestrip thrive

It was a good week for rival resources players too, with explorer Conroy Diamonds & Gold (CDG) moving 10.5 per cent north to 2p on upbeat results from its gold belt in Ireland, and recently listed oil explorer Max Petroleum (MXP) firming 25 per cent higher to 58.75p.

Another notable Friday mover was smart labelling play Timestrip (TIME), which skipped 15 per cent higher to 8.625p on news of a supply contract with a North American household appliances distributor. Timestrip’s ingenious smart labels will integrate into its True Air products to remind users to change filters within a given time.

Majestic as ever

Of those issuing results, the star performer was wine merchant Majestic Wine (MJW). Although it admitted the retail slowdown had finally left a dent in its business – interim sales grew at a slightly more leisurely pace than last year – the group nevertheless continued to make progress.

UK like-for-like sales rose 5.5 per cent, slower than the 8 per cent growth rate for the same period last year, but pre-tax profits fizzed up 18 per cent to £5.9 million on sales of £80.8 million, as customers spent an average of £5 more per transaction at £115 and 43 per cent more on expensive fine wines. Following its latest business gains, Majestic has three per cent of a UK wine market growing at six per cent per year.

Arc sails

The interim figures at security risk management services minnow Arc Risk Management (ARC), best known for its Red24 security service, were not so buoyant. The numbers to September revealed reduced pre-tax losses of £392,000 (£560,000) on sales of £900,000, a 68 per cent improvement over last time. Encouragingly, Red24 sales were up more than five times that of the corresponding first half period. The shares gained 17 per cent over the week to move to 0.9p.  

Wraith (WRT) also encouraged with half-time figures. This company hires and sells modular and portable buildings used as temporary or semi-permanent accommodation units, and reported 60 per cent turnover growth to £10.6 million and a 65 per cent hike in pre-tax profits to £928,000. For the full year, shop broker Fyshe Horton Finney forecasts a jump in pre-tax profits to £1.5 million (£1.2 million) off improved sales of £20 million (£17.6 million).

Looking forward

Woking-based Genosis, with consumer products focused on ‘reproductive health’, intends to join AIM’s ranks on 2 December in a £8 million float supported by broker and adviser Evolutions Securities. The group's initial product, Fertell, comprises one male and one female fertility-testing device. Many analysts rate its prospects.