Westminster Group PLC (LON:WSG) shares were off 8.74% after it released an interim results statement, for the six months ended June 30, and announced director changes including the appointment of a new chief financial officer.
Regal Petroleum Plc (LON:RPT) shares, meanwhile, were on the front foot as its financial results revealed US$24.6mln of revenue and a US$11.9mln gross profit. It also announced the departure of its chief financial officer and other board changes.
9.30am: Moss Bros, Xeros Technology among Friday’s early movers
Moss Bros cut its half-year dividend by nearly 25% after stock issues and low customer footfall resulted in a dent to its sales and profits.
The men’s clothing stores chain reported that like-for-like (LFL) retail sales for the period were down 6.9%, while LFL hire sales declined 7.8%. Adjusted pre-tax profits were reported at £0.2mln, down from £3.7mln in the first half of 2017, while revenues fell 3.3% to £64.5mln.
In early morning trading London, Moss Bros shares were down 5.5p, or 11.83% at 41p.
But Xeros Technology Group PLC (LON:XSG) shares belted 20% higher to 49.89p as it announced a new ten-year contract win to install its patented polymer technology at a Mexican tannery - that’s a leather producing facility, not a solarium - which processes some 5,000 hides per week.
The facility is located in León which is described as “one of the world's leading tanning centres”.
"The considerable interest we are seeing from leading tanneries is a strong indication of the potential to increase rapidly the deployment of our technology in what is a global scale industry - we expect to secure further contracts into the future," said Xeros chief executive Mark Nichols.
Meanwhile, Neil Woodford’s Woodford Patient Capital Trust PLC (LON:WPCT) gained just shy of 8% in the market on Friday after releasing a statement noting an upward revaluation of net asset value – driven by a 357% rise in the value of Industrial Heat, a disruptive energy technology group. WPCT shares were priced at 88.29p.
Proactive news headlines:
Tower Resources PLC (LON:TRP) highlighted that its partner in the Algoa-Gamtoos licence, in South Africa, is launching a farm-out process aimed to fund new seismic exploration which would set up future drilling efforts.
Avacta Group PLC (LON:AVCT), the developer of Affimer biotherapeutics and reagents, has announced that its CEO, Alastair Smith, CEO will be presenting at an investor evening hosted by Turner Pope Investments to be held on 1 October.