30th Mar 2021 10:51
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Tuesday.
----------
SMALL-CAP - WINNERS
----------
Pharos Energy PLC, up 12% at 23.45 pence, 12-month range 10.44p-25.9p. Receives provisional approval from the Egyptian General Petroleum Corp's Main Board to an amendment of the fiscal terms of its El Fayum concession, which is now subject to the approval of the Egyptian government. Under the new terms, the cost recovery petroleum percentage - being the share of gross revenue available for the contractor to recover its costs - will be increased to 40% from 30%, allowing Pharos a "significantly faster" recovery of all its past and future investments. "Together these new fiscal terms mean an improvement of up to USD5.7 [per barrel] in the breakeven price," comments Ed Story, president & chief executive.
----------
Dialight PLC, up 8.6% at 266p, 12-month range 170p-340p. The industrial LED lighting technology and solutions firm says revenue falls to GBP119.0 million in 2020 from GBP151.0 million in 2019, but pretax loss slims to GBP10.1 million from GBP12.5 million. "We are experiencing an increase in quoting activity early in the year and while the group will continue to be impacted by Covid-19 during 2021 and will take steps to mitigate to the extent possible, we see a range of profitable outcomes for the full year," Chief Executive Fariyal Khanbabi says.
----------
SMALL-CAP - LOSERS
----------
Pensana PLC, down 9.8% at 145.30p, 12-month range 19.5p-205p. Reports pretax loss of USD2.6 million for six months to December 31, widening from GBP2.0 million year-on-year. Firm notes: "We draw attention to note 3 to the half-yearly financial report which indicates the directors considerations concerning the group's ability to continue as a going concern. The matters explained in note 3 indicate that the group will require additional funding to meet its liabilities as they fall due for a period of at least the next 12 months, that the required capital has not been secured at the date of this report, and the availability of such funding is not guaranteed."
----------
Allied Minds PLC, down 4.4% at 24.85p, 12-month range 22.94p-45p. The IP commercialisation company reports revenue of just USD480,000 for 2020, slumping from USD2.7 million in 2019, while it swings to a pretax loss of USD55.5 million from USD50.3 million in profit.
----------
By Lucy Heming;Â [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
ALM.LDialightPensanaPharos Energy