The following stocks are the leading risers and fallers among London Main Market small-caps on Thursday.
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SMALL-CAP - WINNERS
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Costain Group PLC, up 3.1% at 43.28 pence, 12-month range 32.05p-64.89p. The infrastructure construction firm, which is holding its annual general meeting on Thursday, says it is trading in line with market expectations. Further, it continues to expect to deliver further progress in 2022 and remains confident in its strategy and longer-term prospects.
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Petrofac Ltd, up 3.0% at 148.70p, 12-month range 91.05p-203.34p. The oilfield services company and Promethean Decommissioning Co have formed an alliance to decommission the South Pass 60, South Pass 6 and East Breaks 165 fields, located offshore Gulf of Mexico. The legacy offshore fields and assets include nine platforms, 200 wells and 32 pipeline segments. The scope includes the safe, efficient, and assured decommissioning of the fields, Petrofac says. Petrofac has been appointed by PDC as the decommissioning services provider in a contract valued at around $200 million in line with the Department of Biosystems Science and Engineering’s estimated decommissioning cost.
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SMALL-CAP - LOSERS
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Reach PLC, down 21% at 126.30p, 12-month range 124.10P-430.00p. The newspaper publisher says in the four months to April 24, revenue fell 0.9% from the same time last year. Reach says the market has experienced reduced advertiser demand in the last two months, with the war in Ukraine affecting content for news publishers. Looking ahead, it still expects broadly flat revenue for the year, though with a higher mix of circulation revenue and lower digital revenue contribution than previously expected as a result of more challenging trading conditions.
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