SMALL-CAP WINNERS & LOSERS: Ceres Power up on Denso partnership

Tue, 06th Aug 2024 10:14

(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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Ceres Power Holdings PLC, up 5.5% at 206.86 pence, 12-month range 126.40p-388.40p. The developer of clean energy technology says it has signed a contract with Denso Corp, an original equipment manufacturer. Denso is a Fortune 500 company, headquartered in Kariya, Japan. It says the agreement includes "significant revenues for Ceres over multiple years". Chief Executive Phil Caldwell says: "I am excited to announce our latest partnership with Denso. This builds on Ceres' strategy to collaborate with leading high volume manufacturing partners, located in regions where the energy transition has strong momentum."

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SMALL-CAP - LOSERS

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SIG PLC, down 1.8% at 22.00p, 12-month range 20.65p-39.36p. In the six months ended June 30, SIG reports revenue of GBP1.32 billion, down 7.0% from GBP1.42 billion a year earlier. It swings to a pretax loss of GBP11.3 million from a profit of GBP12.2 million. CEO Gavin Slark says: "Our results in the first half reflect the prolonged challenging market conditions we are currently facing across most of our European businesses. In light of these conditions, we took further actions to reduce our permanent cost base in the half, which will benefit us in the future."

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By Sophie Rose, Alliance News senior reporter

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