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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Luceco PLC, up 14% at 88.70 pence, 12-month range 73.81p-487.50p. In six months ended June 30, posts pretax profit of £4.6 million, down sharply from £16.6 million the previous year. However, profit still up from pre-pandemic levels of £4.1 million. Explains this reflects more normalised markets following pandemic recovery, with demand continuing to be ‘very buoyant’. Revenue dips to £106.4 million from £108.2 million but remains well ahead of the £82.7 million achieved in 2019. Interim dividend drops to 1.6p per share from 2.6p. Expects full-year earnings in line with current market expectations.
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Capital Ltd, up 6.8% at 88.40 pence, 12-month range 0.75p-88.80p. Nears 12-month high after wins expanded drilling services contract with B2Gold Corp at the Fekola gold mine in Mali. Contract includes the development and grade control drilling at the site and builds on an initial contract announced at the end of June. In addition, company buys 10 rigs and associated equipment from African Mining Services in order to deliver the new contract. Capital expenditure now expected between $60 million and $65 million in 2022. Full-year revenue guidance remains between $280 million and $290 million.
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SMALL-CAP - LOSERS
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EnQuest PLC, down 4.5% at 29.65 pence, 12-month range 16.90p-37.35p. In the six months ended June 30, revenue surges 82% to $943.5 million from $518.3 million as the company ups productions and sees average oil price per barrel jump against the previous year. Production rises 7.7% to 49,726 barrels of oil equivalent per day from 46,187 boepd. Average realised oil price jumps 43% to $89.9 per barrel from $62.8. However, costs of sales surge to $585.6 million from $333.3 million and operating costs rise to $208.4 million form $55.4 million as a result of the Golden Eagle acquisition in October. Full-year production expected between 44,000 boepd and 51,000 boepd. In 2021, average output was 44,415 boepd.
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