Top five Scottish share risers last week

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Which were last week’s best performing Scottish shares on the stock market?

Faroe Petroleum +10.8%

Oil and gas firm Faroe Petroleum enjoyed the biggest gain last week. Picture: TSPL

Oil and gas firm Faroe Petroleum enjoyed the biggest gain last week. Picture: TSPL

Results in September showed that the Aberdeen-based oil and gas explorer slid into the red during the first half of the year, but chief executive Graham Stewart said the firm was “well placed for growth” following its “transformational” acquisition of a number of fields from Danish group Dong. The purchase was completed earlier this month at a price of about $26.7m (£21.4m), almost half the previously announced original consideration of $70.2m.

Shares closed at 90.25p on Friday 9 December and at 100p on Friday 16 December

Iomart +8.2%

The Glasgow-based cloud computing and web hosting specialist saw its profits surge by almost a quarter during the first half of its financial year, with chief executive Angus MacSween saying he was on the search for more acquisitions, having paid £3.8m for Gloucestershire-based data storage and back-up outfit Cristie in August. Adjusted pre-tax profits rose to £10.6m for the six months to the end of September, an increase of 23 per cent on the figure of £8.7m recorded for the same period last year.

Shares closed at 286.5p on Friday 9 December and at 310p on Friday 16 December

Braveheart Investment Group +7.9%

The business angel investment group, based in Perth, moved into the black at the half-year stage, delivering a record profit of £475,000 for the six months to the end of September, against a loss of more than £1m a year earlier, following efforts to reduce its operating costs. Chief executive Trevor Brown said in October: “The board believes that the group’s costs are now firmly under control at a much reduced level from historic levels and with a new entrepreneurial spirit in the group, we expect that full-year results will reflect our continuing progress.”

Shares closed at 9.5p on Friday 9 December and at 10.25p on Friday 16 December

Aberforth Smaller Companies +5.9%

Life and pensions group Legal & General lifted its stake in the Edinburgh-based investment trust to 3.15 per cent earlier this month. Aberforth Smaller Companies, managed by Aberforth Partners and chaired by Paul Trickett, invests in the likes of Aberdeen-based transport giant FirstGroup, wealth manager Brewin Dolphin and housebuilder Bovis Homes.

Shares closed at 1,027p on Friday 9 December and at 1,088p on Friday 16 December

Alliance Trust +5.3%

A radical overhaul at the Dundee-based wealth manager last week saw it agree to sell its investments arm to Liontrust Asset Management for up to £30m in cash and shares in a bid to revive its financial returns. It is thought that the sale of Alliance Trust Investments could lead to some duplication and loss of jobs, but most of the 50 or so related staff in Dundee and Edinburgh are likely to be unaffected.

Shares closed at 589p on Friday 9 December and at 620p on Friday 16 December

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