Consultancy firm Science Group fell 1.3% to 466p on news that it had increased its takeover bid for engineering company TP to 6.5p per share, up from 5.8p, but again had been rejected by TP’s board.
Science Group, which said it wouldn’t raise its bid again, also upped its stake in TP to 18% and pledged to hold its shareholding with an ‘active engagement strategy’. TP fell 4.1% to 5.8p.
Greeting cards and gift wrapping group IG Design slipped 0.7% to 518.4p, even as its year-to-date revenue jumped 25%.
IG Design, however, also foreshadowed cost headwinds and said its full-year earnings forecast remained in line with expectations, despite higher-than-expected sales.
Engineering company Wood Group fell 2.7% to 227.35p, having posted a first-half net loss, owing to falling revenue and a higher tax bill, though its operating profit improved due…