SMALL-CAP WINNERS & LOSERS: Gore Street gains on Goldman contract

Fri, 18th Oct 2024 10:32

(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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Gore Street Energy Storage Fund PLC, up 5.4% at 56.50 pence, 12-month range 53.22p-93.30p. The London-based investor in utility-scale energy storage projects says that its California-based Big Rock asset has secured a resource adequacy contract with Goldman Sachs Group Ltd. The twelve-year, USD14 million agreement is with Goldman Sachs subsidiary J Aron & Co LLC, and is set to begin in the summer of 2025. The contract is stackable, which the company said would allow for concurrent revenue streams across wholesale trading and ancillary services. Gore Street Energy acquired the 200 megawatt Big Rock asset in February 2023. It remains on track to be energised by December this year. Gore Street Energy says the contract will "significantly enhance" the group's total revenue generation.

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SMALL-CAP - LOSERS

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Headlam Group PLC, down 1.2% at 127.45p, 12-month range 126.00p-225.00p. The floor coverings specialist's shares remain downbeat, after the firm reported worsened interim results in September. At the time, Headlam said revenue in the six months to June 30 fell 12% to GBP292.5 million from GBP331.8 million a year earlier. It also swung to a pretax loss of GBP20.6 million, from profit of GBP4.5 million. In the year-to-date, Headlam's shares are down 40%.

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By Holly Beveridge, Alliance News senior reporter

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