15th Sep 2023 09:57
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Friday.
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SMALL-CAP - WINNERS
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Trifast PLC, up 2.3% at 82.3 pence, 12-month range 46.7p-93.5p. The industrial fastening company names Iain Percival as its new chief executive officer from next Wednesday. Percival has had a 30-year career, working in divisional leadership positions within multiple international manufacturing firms. These include being divisional chief executive at Essentra PLC's packaging arm between 2017 and 2021. After 23 years at Trifast, former CEO Mark Belton had resigned suddenly in February amid a profit warning due to significant destocking from one of its Asian manufacturing customers. Non-executive director Scott Mac Meekin had taken up the role of interim CEO, and will step down from the board on Tuesday. He will remain with the business and become head of Strategic Transformation.
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Kier Group PLC, up 3.6% at 95.52p, 12-month range 56p-95.86p. The infrastructure services, construction and property extends Thursday's gains. Alongside a strong set of annual results, it had announced that intends to resume dividend payments in financial 2024, beginning with an interim dividend.
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SMALL-CAP - LOSERS
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Petra Diamonds Ltd, down 3.8% at 66.41p, 12-month range 63.1p-123p. The Southern Africa-focused diamond miner and supplier reports its annual results for the 12 months to June 30. Production at 2.67 million carats falls short of revised guidance, which Petra blames on operating challenges. Revenue falls 42% year-on-year to USD325.3 million from USD563.7 million, and the firm swings to a loss of USD38.8 million from USD139.5 million. Anticipates rough diamond demand will remain subdued in the short-term, but believes the "prevailing structural supply deficit" of diamonds will provide market support in the medium to longer-term.
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By Elizabeth Winter, Alliance News senior markets reporter
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