The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.
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SMALL-CAP - WINNERS
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Petrofac Ltd, up 3.4% at 81.67 pence, 12-month range 45.38p-127.60p. The target price for the energy infrastructure company’s stock is raised to 80p from 70p previously by Jefferies, which maintains its ’hold’ rating. On Friday, the company announced the win of a contract valued at about $700 million. Is selected by Abu Dhabi National Oil Co subsidiary Adnoc Gas Processing for the engineering, procurement and construction of a new gas processor plant at Adnoc’s Habshan complex, west of Abu Dhabi.
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Porvair PLC, up 3.1% at 653.52 pence, 12-month range 481.00p-700p. The manufacturer focused on filtration and separation technology posts an 18% rise in pretax profit in the six months ended May 31 to £11.2 million from £9.5 million the year prior. Revenue rises 10% to £90.6 million from £82.3 million the year before. Declares an interim dividend rise to 2.0 pence per share from 1.9p the year before. Chief Executive Ben Stocks says he expects 2023’s result to be ahead of 2022. ‘The board expects the momentum of this strong start to 2023 will carry through to a satisfactory conclusion to the year and views the longer-term with confidence,’ he adds.
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SMALL-CAP - LOSERS
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Ricardo PLC, down 1.7% at 562.50p, 12-month range 325p-606.0p. The environmental and engineering consulting company said Judith Cottrell joined the firm on Saturday, and will become CFO from the end of September. She was previously group finance director at RPS Group PLC.
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