Top five performing Scottish stocks last week

Xcite Energy was the best performing Scottish stock last week. Picture: TSPL

Xcite Energy +24.4%

While shares in the Aberdeen-based heavy oil appraisal and development company – which is developing the Bentley field in the North Sea – enjoyed strong gains last week, they fell sharply today after the Aim-quoted firm warned that investors would be left with a “minimal residual equity stake” following a restructuring of its $135 million (£101.7m) senior secured bonds. It added: “The company will update shareholders as soon as any further information relating to the restructuring of the bonds can be made available.”

Shares closed at 6.63p on Friday 2 September and at 8.25p on Friday 9 September

Craneware +16.4%

The healthcare software specialist told shareholders last week that it was in a “stronger position than ever” as it unveiled a 10 per cent rise in annual profits. The Edinburgh-based firm, which develops billing software for the US hospitals sector, posted a pre-tax profit of $13.9m (£10.5m) for the 12 months to the end of June, up from $12.5m a year earlier, on revenues 11 per cent higher at $49.8m.

Shares closed at 1,022.5p on Friday 2 September and at 1,190p on Friday 9 September

Braveheart +11.1%

The Perth-based business angel investment group continued on its upward trajectory following last month’s agreement to sell its 1.25 per cent stake – along with a 3.75 per cent interest held by Strathclyde Investment Fund – in Glasgow-based mLED, a University of Strathclyde spin-out that specialises in tiny light emitting diodes. Braveheart expects to receive a total net consideration of £381,000 if the sale, to an unnamed US-based technology company, goes ahead.

Shares closed at 13.5p on Friday 2 September and at 15p on Friday 9 September

Murgitroyd +3.7%

The Glasgow-based firm of patent attorneys, which recently extended its international reach with a takeover deal focused on the US and Nicaragua, today proposed an 8.5 per cent hike in its full-year dividend to 16p a share as it unveiled higher sales and profits for the full year. Chairman Ian Murgitroyd said: “We continue to see good growth in the USA, which remains the main focus of business development activity for the group.”

Shares closed at 537.5p on Friday 2 September and at 557.5p on Friday 9 September

Scotgold +2.9%

Former non-executive director Richard Harris has seen his stake in the precious metals miner rise to 4.4 per cent following the conversion of convertible notes into ordinary shares. Aim-quoted Scotgold is behind Scotland’s first commercial gold mine, crushing 2,400 tonnes of ore that has been stockpiled at Cononish near Tyndrum in Stirlingshire.

Shares closed at 0.68p on Friday 2 September and at 0.7p on Friday 9 September

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