18th Sep 2024 10:39
(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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Pharos Energy PLC, up 3.4% at 24.60 pence, 12-month range 18.05p-27.50p. The energy company with assets in Vietnam and Egypt backs its yearly production outlook and reports half-year profit growth. Pretax profit in the six months to June 30 jumps to USD33.6 million from USD5.3 million. Revenue, however, slips a quarter to USD65.0 million from USD86.2 million. It still expects output between 5,200 - 6,500 barrels of oil equivalent per day for 2024.
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MJ Gleeson PLC, up 2.0% at 573.00p, 12-month range 381.00p-630.00p. The housebuilder says revenue in the year ended June 30 rises 5.2% to GBP345.3 million from GBP328.3 million. Pretax profit, however, declines 18% to GBP24.8 million from GBP30.5 million. CEO Graham Prothero adds: "Gleeson Homes exceeded expectations, completing the sale of 1,772 new homes and delivering an operating profit of over GBP30 million. We have continued to invest in growth, building Gleeson Homes' pipeline of sites and total plots, and are now set to return to opening more sites each year than are completed, underpinning strong volume growth in future years."
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SMALL-CAP - LOSERS
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EnQuest PLC, down 2.5% at 11.62p, 12-month range 10.90p-17.82p. A five-day win streak for the stock looks set to end. Shares in the oil and gas company, which has operations in the UK and Malaysia, ease as oil prices weaken. A barrel of Brent fell USD72.54 on Wednesday morning, from USD73.60 on Tuesday.
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By Eric Cunha, Alliance News news editor
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