The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.
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SMALL-CAP - WINNERS
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Trifast PLC, up 2.6% at 72.88 pence, 12-month range 65.80p-97.62p. The maker of industrial fastenings reports weaker annual earnings but set out a promising outlook. Revenue falls 4.4% to £233.7 million in the financial year that ended March 31 from £244.4 million the year prior. Pretax loss narrows to £789,000 from £2.7 million. Trifast proposes a final dividend of 1.20p per share, down 20% from 1.5p a year prior. Its total dividend amounts to 1.80p, also a decline of 20%, from 2.25p. Looking ahead, it says: ‘We believe there is significant scope for improvement in the mid-term and are confident we will be more profitable, effective and efficient in FY25. The macroeconomic and geopolitical environment remains volatile, and we continue to be challenged by inflationary pressures. We are confident we have the right strategy to capture margin upside and deliver sustained growth. We believe there is significant opportunity to return performance to historic levels.’ Shares are down around 18% year-to-date. They suffered a 22% slump in a single trading day back in January, when Trifast warned annual earnings would fall short of consensus at the time.
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SMALL-CAP - LOSERS
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Petrofac PLC, down 20% at 17.60p, 12-month range 8.28p-87.50p. The wild share price swing for one of London’s most-shorted stocks continues. Shares in the services provider to the energy industry had jumped 70% on Friday. According to data from Research Tree, there is a 14.2% current short interest in the stock, meaning bets on the shares to fall, though the short interest was down a bit from 14.7% last month.
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SIG PLC, down 8.8% at 24.08p, 12-month range 20.65p-39.36p. The year-to-date share price fall for the stock now stands at 28%, after Sky News reported the building materials provider is considering a fundraise. SIG is mulling a fundraise between £100 million and £150 million, according to Sky News, which said that SIG declined to comment on ‘market speculation’.
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