By - Suhita Poddar
Summary
- MS International was the highest riser in the AIM All-Share index after reporting its FY 2021 results, where the company moved back into profits.
- Helium One’s discovered helium at the Tai-1 site of the Rukwa Project in Tanzania with a helium concentration of 2.2 per cent.
Two FTSE AIM All-Share stocks were buzzing on Tuesday’s trading session, rising 15-20 per cent each.
Let’s take a closer look at why these 2 FTSE AIM All-Share index stocks were the two highest risers today:
FTSE AIM All Share listed company MS International is a designer and manufacturer of engineering and related services across three business segments, including defence, forgings and petrol station superstructures.
MSI shares surged over 20 per cent, making it the highest riser in the index after it reported its FY 2021 results. The company reported a pre-tax profit of £1.59 million compared to a pre-tax loss of £3.25 million in FY 2020. It also reported that total cash in FY 2021 increased to £23.56 million from £16.30 million in FY 2020.
The company got strong support of its petrol station business in FY 2021, after it was kept as an essential business allowing it to trade amid lockdowns.
It also noted a structural change in ownership of petrol stations from large multinational oil companies to smaller well-funded and privately-owned groups.
MSI’s defence business benefited after the company was awarded a contract lasting up to seven years with the US navy for MSI’s naval weapon’s system. It has also received an order to supply up to 8 weapon systems of a similar nature for a US government Foreign Military Sales Programme.
(Image Source: Refinitiv)
MSI’s shares were trading at GBX 196.50, up by 20.92 per cent on 22 June at 14:19 HRS GMT+1. Meanwhile, the FTSE AIM All-Share index was trading at 1,220.90, down by 0.01 per cent.
MSI’s market cap stood at £26.32 million, and its year-to-date returns stood at 61.69 per cent.
Also Read: Why were These 2 FTSE-AIM Stocks Buzzing: Metal Tiger and San Leon Energy?
Another FTSE AIM All-Share listed company Helium One Global is focused on exploring, commercially developing and eventually producing high grade helium.
Its shares jumped over 15 per cent today after the company announced evidence of helium while drilling the Tai-1 well at the Rukwa Project in Tanzania. The site found helium concentrations of up to 2.2 per cent.
(Image Source: Refinitiv)
HE1’s shares were trading at GBX 21.35, up by 15.41per cent on 22 June at 14:21 HRS GMT+1. Meanwhile, the Fossil Fuels Sector Index was trading at 5,229.15, up by 1.73per cent.
HE1’s market cap stood at £113.68 million, and its year-to-date returns stood at 196.46 per cent.
Also Read: What Is AIM Index, And What Types of Companies Are Listed on