SMALL-CAP WINNERS & LOSERS: Lamprell sinks as pandemic hits profit

Mon, 07th Feb 2022 10:50

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.

----------

SMALL-CAP - WINNERS

----------

Argo Blockchain PLC, up 2.6% at 79.99 pence, 12-month range 57.00p-339.81p. The cryptocurrency miner was tracking the price of bitcoin higher. The world's oldest cryptocurrency stood at USD42,492 on Monday morning, up 4.5% from USD40,673 at the same time Friday. Argo also says it mined 172 bitcoin equivalent in January, down from 214 BTC in December.

----------

SMALL-CAP - LOSERS

----------

Lamprell PLC, down 11% at 31.00p, 12-month range 30.00p-88.46p. Shares in oil field service provider hits 12-month low after flagging a reduction in full-year profit, as its operational productivity slowed and supply chain issues increased costs. Preliminary figures shows revenue rose 15% to USD389 million in 2021 from USD260.4 million a year ago, but the company noted that profitability took a hit due to Covid-related costs. Lamprell says national lockdowns and travel restrictions early in the year hurt productivity and supply chains, leading to higher costs.

----------

Amigo Holdings PLC, down 9.6% at 3.57p, 12-month range 1.63p-30.30p. The guarantor loan provider notes court convening hearing to discuss its new business scheme will take place March 8, with the hearing scheduled for May 23 and 24. Amigo says, as detailed in December, its new business scheme proposes an initial contribution of GBP97 million, to be generated from internal resources. A significant proportion of this will be derived from the run-down of the existing loan book. It plans to raise capital within one year of the court sanction of the new business scheme.

----------

By Arvind Bhunjun; arvindbhunjun@alliancenews.com

Amigo Resources