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A look at some of the major movers in London on Monday
Diploma PLC (LON:DPLM) saw its shares rise by a tenth to 3,030p after it boasted of a “very strong first-half performance”.
The electrical components supplier raised full-year expectations after the six months to the end of March 2021 saw underlying revenue growth of 2% from a year earlier and a rise in the profit before tax to £42.5mln from £41.6mln in the corresponding period 12 months earlier.
Having deferred payment of an interim dividend last year because of COVID-19, the company recommended payment of an interim divi of 12.5p this time around.
Follow John on:
A look at some of the major movers in London on Monday
Diploma PLC (LON:DPLM) saw its shares rise by a tenth to 3,030p after it boasted of a “very strong first-half performance”.
The electrical components supplier raised full-year expectations after the six months to the end of March 2021 saw underlying revenue growth of 2% from a year earlier and a rise in the profit before tax to £42.5mln from £41.6mln in the corresponding period 12 months earlier.
Having deferred payment of an interim dividend last year because of COVID-19, the company recommended payment of an interim divi of 12.5p this time around.
Tungsten recovery rates continue to improve and were around 50% during April, it said.
Funds from the placing will also provide additional working capital to cover the ramp-up in production at La Parrilla.
The AIM-quoted company raised £2.26mln before expenses through a placement of 28.3mln shares at 8p per share, a 13.5% discount to Friday’s closing price.
Its chairman Michael Masterman also intends to participate and invest £250,000 on the same terms as the placing, once the company has published its accounts for 2020 and is no longer in a closed period, increasing the fundraising to around £2.5mln. W Resources plans to publish its accounts in the coming weeks.
The London stock market somewhat mirrored London’s weather today; a pleasant start, followed by heavy showers and then a traditional British tepid finish.