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Pin to quick picksPetrofac Share News (PFC)

  • This share is currently suspended. It was suspended at a price of 10.50

Share Price Information for Petrofac (PFC)

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Share Price: 10.50
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Change: 0.00 (0.00%)
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Prev. Close: 10.50
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SMALL-CAP WINNERS & LOSERS: Petrofac shares fall as annual loss widens

Thu, 27th Apr 2023 09:56

(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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International Personal Finance PLC, up 5.2% at 101.00 pence, 12-month range 62.77p-117.43p. The financial services firm says all its divisions have started the year well, with the company trading ahead of its internal plans at the end of the first quarter. Delivers customer lending growth of 15% in the first quarter of 2023 against the year prior. Customer receivables end the first quarter at GBP883 million, up 15% year-on-year at constant exchange rates. Chief Executive Gerard Ryan says: "We have delivered strong year-on-year lending and receivables growth and, despite the macroeconomic landscape, we have not seen any discernible impact of the cost-of-living crisis on customer repayment performance across the group." Expects to deliver good lending growth and results ahead of its original plans for the year as a whole.

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Zotefoams PLC, up 1.6% at 377.00 pence, 12-month range 233.00p-414.00p. The cellular materials firm announces an agreement with Wyoming, US-based manufacturer Kennon Products to supply Zotek F high-performance foam for use in Kennon's newest ligature-resistant patient safety door. The safety doors are used in medical facilities to protect patients from self-harm while affording privacy. Chief Executive David Stirling says: "This application has produced another 'first' for Zotek F and demonstrates the potential of the material to deliver benefits well beyond its current core markets of aviation and aerospace."

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SMALL-CAP - LOSERS

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Petrofac Ltd, down 1.9% at 62.67 pence, 12-month range 45.38p-161.20p. The energy infrastructure services provider reports lower revenue and a widened net loss in 2022. Petrofac reports a net loss of USD310 million, widened from USD245 million the previous year. Its loss before interest, tax, depreciation and amortisation widens to USD138 million from USD86 million the year prior. Revenue declines to USD2.59 billion from USD3.03 billion. Chief Executive Tareq Kawash says Petrofac's performance for 2022 was "severely impacted" by the challenges in the its legacy Engineering & Construction portfolio, which continued to feel the "direct and indirect" effects of pandemic delays.

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888 Holdings PLC, down 1.2% at 78.80 pence, 12-month range 50.50p-220.00p. Shares in the gambling operator and owner of brands such as William Hill and 888casino slip ahead of the long-awaited gambling white paper setting out UK government proposals to make regulation of the sector "fit for the digital age". Campaigners are hopeful it will include plans for affordability checks and the introduction of a statutory levy on gambling operators to pay for research, education and treatment of problem gambling. The UK government launched its gambling review in December 2020 but publication of the subsequent white paper has been the subject of repeated delays due to a succession of ministerial changes.

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By Heather Rydings, Alliance News senior economics reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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