SCOTTISH FTSE companies had mixed fortunes separately in 2019 with Macfarlane, FirstGroup and Cairn Energy gaining and AG Barr, Wood, and John Menzies declining.

However, shares in Scottish companies listed on the FTSE outperformed the FTSE 350 and All Share indices in 2019 as the Alternative Investment Market’s constituents based north of the Border lagged their benchmark, according to new analysis from Brewin Dolphin.

The wealth manager found that Scottish organisations on the FTSE averaged a gain of 16.11 per cent last year, compared to uplifts of 14.17% and 14.19% for the FTSE 350 and FTSE All Share.

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Scottish shares on the junior index though ended 2019 just 3.38% ahead, compared to the AIM All Share’s gain of 11.61%.

Brewin Dolphin said in terms of overall share price gains and losses last year, the picture was “fairly balanced” but the de-listing of Goals Soccer had an impact.

Three of the 19 Scottish-based constituents saw share price decline in 2019, with Irn-Bru maker AG Barr seeing a 26.49% drop, Wood, the oil and gas services provider, down 21.28%, and aviation services business John Menzies taking a 7.62% hit.

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Packing firm Macfarlane recorded a 50.7% uplift, FirstGroup was in a similar place with a 50.36% rise and Cairn Energy, the Edinburgh oil and gas group, saw a gain of 36.67%.

Glasgow-based Quiz, the fashion retailer, lost nearly half of its AIM value at 47.53% in another tough year for the business.

John Moore, senior investment manager at Brewin Dolphin, said: “Scottish shares on the FTSE performed better than the overall market, which is undoubtedly a good news story. It demonstrates the resilience many of them have shown in the face of an uncertain 12 months.”