Small cap movers: Dart Group ups forecasts as it mops up Thomas Cook customers
In a trading update on Friday, the firm said it had seen “increased” demand for its flights and package holidays since Thomas Cooks collapse last month, and as a result profits for its current financial year “will be exceeded”.
The shares gained altitude on the news and were up 13% to 1,055p over the week.
AJ Bell investment director Russ Mould said Dart was always a “likely beneficiary” of Thomas Cooks demise, with its package holiday and flight-only offerings serving as a “natural home” for its competitors former customers.
There were, however, some clouds on the horizon, with Dart saying it was “very cautious” going forward due to the twin threats of Brexit uncertainty and a weak pound, both of which could affect the ability of consumers to jet off on holiday.
The AIM All-Share was down 0.4% at 859.6 during the week, while the FTSE 100 rose 0.4% to 7,184,4.
The firm said it would supply nitrogen storage units and ultra-large high-pressure cylinders to EDFs nuclear power plants in Heysham, Torness and Hartlepool, with the contract carrying a price tag of over £3 million.
Weight loss products maker OptiBiotix Health PLC (LON:OPTI) piled on some extra value after its LPLDL probiotic received the highest food safety rating by US regulators. The shares jumped 13% to 54p in response.
Faron Pharmaceuticals Oy (LON:FARN) was rejuvenated, soaring 55% to 130p, as the firm reported positive results from a trial of its Clevegen cancer treatment which suggested the product was well tolerated in patients.
Fellow biotech Maxcyte Inc (LON:MXCT) was lifted 3% to 124p after securing a licensing agreement for its cell engineering technology with Massachusetts-based pharma group Editas Medicine.
Industrial tape maker Scapa Group PLC (LON:SCPA) managed to stick itself higher on the chart, rising 3% to 209p, as it forecast a full-year revenue increase despite the loss of a contract with FTSE 250 medical supplier ConvaTec.
The group reported revenues of $4.9 million in the third Read More – Source