(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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Kingspan Group PLC, up 2.8% at EUR96.76, 12-month range EUR52.95-EUR97.56. The Irish building materials firm reports a "remarkably strong" first half, with revenue surging on the back of high demand. Pretax profit in the six months to June 30 rises to EUR297.5 million from EUR177.5 million a year before, with trading profit up 64% to EUR329 million. Revenue increases 41% year-on-year to EUR2.92 billion from EUR2.07 billion. Kingspan declares a 19.9 euro cents dividend for the first half, after withholding payment last year. "Despite inflation in our input costs, effective price management has helped increase trading margins, with a stand out performance in our largest division - insulated panels. Our strategy of expanding through acquisition and diversifying geographically has continued, with ten acquisitions made during the period across four continents, and a robust balance sheet positioned to support future growth," Chief Executive Gene Murtagh says.
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Clipper Logistics PLC, up 1.0% at 818.95 pence, 12-month range 370.00p-878.00p. Signs new five-year contract with Ireland's largest sports retailer, Life Style Sports. Clipper will provide e-commerce and store replenishment operations from a new distribution centre in Rathcoole, South of Dublin. Life Style Sports previously operated its own warehouse and fulfilment operation but moved to a third-party service provider in 2015. Clipper has now won this contract following a competitive tender process.
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Argo Blockchain PLC, up 4.4% at 125.33 pence, 12-month range 5.35p-284.00p. Plans initial public offering of American Depositary Shares on Nasdaq. "The proposed offering is subject to market and other conditions, and there can be no assurance as to whether, or when, the proposed offering may be completed or as to the actual size or terms of the proposed offering," Argo explains. Jefferies and Barclays are acting as joint book-running managers for the proposed offering.
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By Paul McGowan; paulmcgowan@alliancenews.com
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