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(Alliance News) - 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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Zenith Energy Ltd, up 20% at 0.99 pence, 12-month range 0.3p-1.47p. The oil and gas production company agrees sale of Tunisian oil production. Agrees international crude oil lifting, scheduled to take place this month, of around 68,000 barrels. It will receive USD4.5 million. "The company will apply the significant additional funding towards accelerating our planned field development rehabilitation and drilling activities in Robbana and El Bibane, as well as within the Ezzaouia concession following agreement with our partners, to achieve a maximisation of oil production in the near-term," says Chief Executive Andrea Cattaneo.
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Fuller, Smith & Tuner, up 3.6% at 860p, 12-month range 486p-977.73p. Reports slump in full-year revenue and swing to loss, but is looking forward to being able to trade without restrictions from July 19. Revenue for the financial year that ended March 27 slumps 77% to GBP73.2 million from GBP316.0 million, and pub operator swings to pretax loss of GBP57.8 million from GBP8.4 million profit. However, it adds: "With our entire estate open, like for like sales for the 12 weeks to 3 July 2021 are running at 76% of 2019 levels, cash generation is strong and our net debt levels are below where they were pre-pandemic."
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Air Partner PLC, up 8.6% at 88p, 12-month range 56.13p-103p. The aviation services company reports strong trading over first five months of financial year, and now expects to beat management expectations for financial year ending January 2022. Says trading "well ahead" of pre-virus levels, driven by high levels of activity in US Private Jets division. Charter business also strong, it adds, while UK Private Jets is starting to build. "Although the timing of easing of restrictions on travel remains uncertain across Air Partner's various geographies, the board is pleased with the group's performance so far in the current financial year and is optimistic about the prospects for both the Charter and Safety & Security divisions," it says.
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SMALL-CAP - LOSERS
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InnovaDerma PLC, down 11% at 35.01p, 12-month range 35p-76.4p. The beauty, personal care and life science products firm says revenue in financial year ended June 30 broadly in line despite "continued impact of Covid-19 restrictions, and the unseasonably poor weather in the UK over April and May". Expects to report revenue of no less than GBP10.2 million for year, which would be down from GBP13.3 million the year before. Trading earnings before interest, tax, depreciation and amortisation before accounting changes expected to be broadly in line with consensus for year at GBP900,000, which it dubbed a "satisfactory performance". Adds its balance sheet review identified further goodwill and other write downs that will require around GBP8.9 million non-cash adjustment to 2020 accounts.
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By Lucy Heming; lucyheming@alliancenews.com
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