The following stocks are the leading risers and fallers among London Main Market small-caps on Tuesday.
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SMALL-CAP - WINNERS
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Wise PLC, up 20% at 632.04 pence, 12-month range 285.00p-731.80p. The money transfer firm reports a significant surge in annual profit in the financial year that ended March 31, supported by solid growth in active customers. Wise posts pretax profit of £146.5 million, multiplied from £43.9 million the year prior. Revenue jumps 51% to £846.1 million from £559.9 million. This comes as the company ups its active customer number by 34% year-on-year to around 10 million. It notes this customer growth led to a 37% year-on-year increase in volumes to £104.5 billion. The growth in customers and resulting volumes were the main driver behind the 42% increase in cross-border transaction revenue to £679.5 million, it adds. Looking forward, Wise expects active customer growth to be the primary driver of income growth in financial 2024. It expects active customer growth to be between 28% and 33% in financial 2024.
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Predator Oil & Gas Holdings PLC, up 16% at 13.00p, 12-month range 2.85p-13.50p. The Morocco-focused oil and gas company completes drilling and logging operations at the MOU-3 well, appraising the Moulouya Fan primary reservoir target and several secondary targets. Says the well has validated its pre-drill upside forecast for sand development in respect of the main target. Adds it has also increased the inventory potential of gas reservoirs for a compressed natural gas development with the discovery of very shallow over-pressured gas. ‘It has demonstrated the possible continuity, subject to rigless testing results and a future infill well, of gas sands penetrated in MOU-1 with similar sands encountered in MOU-3. In particular, the Ma Sand potential has been enhanced over a wider area with the possibility of a larger gas trap being effectively sealed covering up to 58 kilometres squared. The shallow gas potential of MOU-3 has exceeded all pre-drill expectations. The focus will now be on drilling and completing MOU-4 where we do not expect shallow gas to be present,’ says Chair Paul Griffiths.
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SMALL-CAP - LOSERS
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Petrofac Ltd, down 2.0% at 71.10p, 12-month range 45.38p-127.60p. The company is appointed by Trinity Exploration & Production PLC to undertake a concept-screening study for the development of further reserves in its Galeota Black, offshore Trinidad. The block is estimated to contain 2P plus 2C reserves and resources of 46.1 million barrels of oil equivalent. Petrofac designs, builds, manages and maintains energy infrastructure and has its core markets in the Middle East and North Africa region. Trinity Exploration & Production is a Trinidad & Tobago-focused oil exploration and production company. Its shares were up 1.2% at 84.50p.
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