7th Aug 2024 09:58
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.
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SMALL-CAP - WINNERS
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Capita PLC, up 5.5% at 17.23 pence, 12-month range 12.40p-23.20p. Shares in the London-based outsourcing and professional services company rise after a negative start to 2024. In the year to date, the stock is down 21%. Last week, Capita said it swung to a pretax profit of GBP60.0 million in the first half of 2024 from a loss of GBP67.9 million a year prior. While revenue fell 16% to GBP1.24 billion from GBP1.48 billion, administrative expenses were reduced by 41% to GBP220.2 million from GBP374.4 million, and cost of sales came down 15% to GBP973.2 million from GBP1.14 billion.
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SMALL-CAP - LOSERS
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Tullow Oil PLC, down 1.0% at 27.18p, 12-month range 26.32p-40.32p. The oil and gas explorer says revenue in the first half of the year falls to USD758.8 million from USD776.9 million a year earlier. However, pretax profit climbs to USD367.6 million from USD217.2 million. Cost of sales falls to USD299.2 million from USD425.6 million. Looking ahead, Chief Executive Rahul Dhir says: "We now progress into a period of lower capex in the second half of the year and beyond. We will continue to reduce debt through sustainable free cash flow generation, strengthening our balance sheet and providing optionality for investment, growth and future returns."
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By Sophie Rose, Alliance News senior reporter
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