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Pin to quick picksEnquest Share News (ENQ)

Share Price Information for Enquest (ENQ)

London Stock Exchange
Share Price is delayed by 15 minutes
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Share Price: 13.16
Bid: 13.12
Ask: 13.22
Change: 0.22 (1.70%)
Spread: 0.10 (0.762%)
Open: 13.30
High: 13.38
Low: 12.38
Prev. Close: 12.94
ENQ Live PriceLast checked at -

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SMALL-CAP WINNERS & LOSERS: EnQuest posts weaker first-half results

Tue, 05th Sep 2023 10:21

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Tuesday.

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SMALL-CAP - WINNERS

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Costain PLC, up 2.2% at 59.48 pence, 12-month range 34.05P-61.8p. The construction and engineering firm resumes dividend payments with a 0.4p interim dividend. On August 23, it said it was considering the resumption of dividends in light of "the increase in operating performance and the positive outcomes regarding the pension review and refinancing".

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SMALL-CAP - LOSERS

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EnQuest PLC, down 12% at 15.33p, 12-month range 13.9p-33.13p. The London-based energy company with assets in the UK and Malaysia reports a weaker first half of 2023 amid lower production. Average net production averages 45,480 barrels of oil per day, down from 49,726 a year before. Consequently, revenue falls to USD732.7 million from USD943.5 million, as pretax profit drops to USD112.9 million from USD182.6 million. Swings to loss after tax of USD21.2 million from USD203.5 million profit before, which it blames on the UK Energy Profits Levy. Also announces planned delisting of its shares from Nasdaq Stockholm, bemoaning the significant additional compliance requirements and costs following Brexit.

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Luceco PLC, down 2.9% at 127.4p, 12-month range 63.47p-155p. The LED lighting manufacturer and distributor says first-half revenue slips 5.0% year-on-year to GBP101.1 million from GBP106.4 million, as pretax profit jumps 35% to GBP6.2 million from GBP4.6 million. While lower, the revenue figure was in line with previous guidance from July. "We now expect full year 2023 adjusted operating profit to show clear progress on last year. This is above the current range of market expectations," it says.

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By Elizabeth Winter, Alliance News senior markets reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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