AIM News

On the junior market, AIM heavyweight and luxury fashion brand Mulberry Group unveiled a strong set of results. The AIM-50 constituent saw profits more than quadruple to £23.3 million (2010: £5.1 million) on sales up 69 per cent from £72.1 million to £121.6 million. The company has made substantial strides of late in building both its overseas and online presence, enthusing that its ‘authentic British attributes’ of ‘craftsmanship and quality’ help it to grow its business.

There was also good news for the ubiquitous Rockhopper Exploration. The Falklands oil explorer declared that its 14/10-5 well in the North Falklands basin had shown ‘commercially viable’ flow rates. The AIM-quoted company reported that tests at the well at its Sea Lion discovery had produced a daily flow rate of 5,508 standard barrels of oil and 940,000 cubic feet of gas over a 48-hour period.

AIM-quoted uranium play Kalahari Minerals unveiled that it had potential resources of 500 million lbs of uranium oxide U3O8 at Husab in Namibia through one of its investments, Extract Resources, the ASX-listed company in which it holds a 43 per cent stake. Though a resilient performer, investor sentiment has been shaken due to Japan’s nuclear disaster, which took some shine off the uranium industry.