(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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Nuformix PLC, up 5.4% to 1.76 pence, 12-month range 1.12p - 3.63p. The pharmaceutical development company files a new patent application in relation to NXP004. This filing covers a new family of co-crystalline forms of an undisclosed marketed drug that is approved globally for the treatment of several cancers. This is the second patent application related to NXP004 that Nuformix has filed and it complements the previous patent application on NXP004 co-crystals.
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Galliford Try Holdings PLC, up 0.9% at 194.59p, 12-month range 81.00p - 213.00p. Says it is performing well, as it continues to manage inflation and supply challenges, and maintain a strong cash position with margins in line with expectations. The infrastructure construction company said it is "encouraged" by the continuing pipeline of new opportunities that align to its strategy and chosen sectors, and the government's planned investment in infrastructure and economic recovery. Going forward, Galliford Try said it is confident of meeting its objectives for the current financial year.
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SMALL-CAP - LOSERS
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Avon Protection PLC, down 43% at 1,088.83p, 12-month range 1,075.00p-4,650.00p. Says its Vital Torso Protection Enhanced Small Arms Protective Inserts plates have encountered a failure in first article testing which will significantly delay the likely approval timetable for this product. Protection equipment company said it has also experienced further delays in obtaining final product approvals for the US Defense Logistics Agency Enhanced Small Arms Protective Inserts body armour plates, with approvals for this product now expected in the second quarter of its current financial year ending September 2022. In light of these issues, Avon Protection said it has initiated a strategic review of its body armour business. Finally, the company said it will delay an announcement of its full-year results, planned for November 23, to allow for a review of the carrying value of the assets related to the body armour business.
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Blencowe Resources PLC, down 6.4% at 5.03p, 12-month range 5.00p - 9.50p. Completes an over-subscribed capital raise for GBP2 million at 5p through the issue of 40.0 million new shares. This includes a subscription of GBP75,000 from the directors and chief executive. These funds will be used for the further development of the mineral exploration and development company's flagship Orom-Cross graphite project in Uganda.
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TheWorks.co.uk PLC, down 3.1% at 55.26p, 12-month range 22.40p - 75.00p. Says trading during the 26 weeks ended October 31 has been stronger than expected, with a two-year like-for-like sales increase of 15% and total two-year sales growth of 18%. The trading result reflects the increasing appeal of TheWorks' proposition and the strong progress in implementing its strategy to make the business "better not just bigger". The gifts, arts, crafts, toys, books and stationery retailer expects the full year results to be in line with its original expectations, despite incurring higher freight costs.
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By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Avon Protection (AVON)
Galliford Try (GFRD)
Nuformix (NFX)
Blencowe Resou. (BRES)
Theworks.co.uk. (WRKS)