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(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.
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SMALL-CAP - WINNERS
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Gulf Keystone Petroleum Ltd, up 6.8% at 288.25 pence, 12-month range 1.39p-297.04p. Hits this 12-month high on Wednesday. The oil and gas exploration company operating in Iraq plans a UD50 million special payout. It adds to a GBP25 million ordinary dividend already declared. In addition, it says a USD55.8 million gross payment, USD43.7 million net to the company, has been received from the Kurdistan Regional Government. The bulk of the payment is related to Shaikan crude oil sales during February 2022, plus arrears from the outstanding February 2020 invoice. "The arrears related to the November 2019 to February 2020 invoices have now been fully recovered," Gulf says.
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Zotefoams PLC, up 8.5% at 309.13 pence, 12-month range 264.32p-499.00p. The Croydon-based company, which manufactures industrial plastics, says revenue in the first four months of 2022 rises 13% yearly. It sees "good demand" but notes the "macroeconomic environment remains difficult". Input cost inflation and unpredictable supply chains are rife, Zotefoams says. However, it says revenue will be ahead of market expectations for the full year.
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SMALL-CAP - LOSERS
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De La Rue PLC, down 7.8% at 102.36p, 12-month range 98.27p-210.15p. De La Rue's annual profit more than doubled though it warned growth will grind to a halt in the new financial year. Pretax profit for the financial year ended March 26 surged to GBP24.2 million from GBP9.9 million a year ago. Revenue, however, fell to GBP375.1 million from GBP397.4 million. The bank note printer's adjusted operating profit declined 4.5% to GBP36.4 million from GBP38.1 million. For financial year 2023, De La Rue expects its adjusted operating profit to be broadly flat year-on-year, as it experiences inflationary headwinds.
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By Eric Cunha; ericcunha@alliancenews.com
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