(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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Record PLC, up 2.6% at 100.55 pence, 12-month range 31.66p-101.00p. The currency & derivatives manager says it has entered into the strategic partnership with UBS Group AG's Global Wealth Management for its newly launched Record Emerging Market Sustainable Finance Fund. Record says it expects the partnership to develop new sustainable investment products.
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Mears Group PLC, up 1.6% at 187.00p, 12-month range 101.00p-205.00p. The UK Housing solutions provider says trading so far this year has remained in line with management's expectations. For half year to June 30, revenue is expected to be over GBP430 million and adjusted profit before tax expected around GBP11.0 million. In addition, expects to reinstate dividend.
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SMALL-CAP - LOSERS
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Lamprell PLC, down 26% at 50.50p, 12-month range 19.30p-88.46p. The oil rig construction firm warns that it faces "severe liquidity constraints" and is deferring creditor payments to manage the problem. Lamprell has been assessing its funding options and must complete a new funding arrangement of between USD120 million and USD150 million by the end of the third quarter. Negotiations with banks are in "advanced stages" to secure working capital of up to USD90 million. To raise the remaining funding, or if negotiations with banks fall through, Lamprell will raise capital through equity to plug the USD120 million to USD150 million hole.
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James Fisher & Sons PLC, down 2.3% at 891.00p, 12-month range 735.00p-1,430.00p. The marine services provider says it is on track to deliver improved underlying operating profit performance and that it plans to refocus its portfolio on niche sectors as part of a new strategy. As part of the strategy, James Fisher has set a medium-term target of underlying operating profit margin above 10% and return on capital employed of above 15%.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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Mears (MER)
Record (REC)
James Fisher and Sons (FSJ)