(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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Pharos Energy PLC, up 5.8% at 21.47 pence, 12-month range 11.50p-28.65p. The oil and gas exploration and production company says the first phase of the TGT 4 well infill development drilling programme in Vietnam has finished. All four infill development wells were drilled within schedule and well under budget, it says.
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Ted Baker PLC, up 4.2% at 142.50p, 12-month range 91.05p-217.60p. The fashion retailer expresses optimism in its prospects after upbeat earnings. For six months to August 14, revenue rises 18% to GBP199.3 million from GBP169.5 million last year as pretax loss narrows to GBP25.3 million from GBP86.4 million loss. "I'm pleased with the continued progress we're making, as we return to revenue growth, and make big strides back towards profitability. The brand remains healthy, delivering a stronger full price mix alongside encouraging early reactions to the new collection," says Chief Executive Officer Rachel Osborne.
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Tullow Oil PLC, up 1.4% at 45.90p, 12-month range 21.52p-66.22p. The oil and gas company says it is increasing its stakes in the Jubilee and TEN oil fields in Ghana for USD150 million. Tullow says, assuming all joint-venture partners fully exercise their pre-emption rights, its stake in the block would increase by 7.7 percentage points to 54.8%. This would increase Tullow's interests in the Jubilee and TEN fields to 38.9% and 54.8%, respectively. Tullow adds that the Ghana deal will add about 10% to daily group production, adding to cash flow and helping to reduce debt.
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Avation PLC, up 1.2% at 109.85p, 12-month range 83.00p-152.50p. The passenger aircraft leasing company says it has completed the sale of a 20-year-old Airbus A321-200 aircraft for an undisclosed sum. Executive Chair Jeff Chatfield says: "Avation has a policy of focusing on new design, young and fuel-efficient aircraft. This A321 was Avation's oldest aircraft at about 20 years old, and thus was an ideal candidate for disposal".
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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Tullow Oil (TLW)
Avation (AVAP)
Pharos Energy (PHAR)