The following stocks are the leading risers and fallers among London Main Market small-caps on Thursday.
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SMALL-CAP - WINNERS
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Amala Foods PLC, up 27% at 0.70 pence, 12-month range 0.35p-2.03p. Says proposed rare earths exploration subsidiary, Terra Rara UK Ltd, which has majority interests in three rare earths projects across Angola and Uganda, has seen high-grade results from drilling on the Mungo project. Notes project has the potential to become a ‘low capex and low opex REE project’. Still looking to close acquisition of Terra. Director Aidan Bishop says: ‘I am pleased with the progress being made on this potential transaction that if successful will result in a complete transformation for the company. The company announced previously that based on the current number of outstanding shares, if successful, the transaction would result in a ’see through’ valuation of approximately 2p per share.’
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SMALL-CAP - LOSERS
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James Fisher & Sons PLC, down 21% at 394.00 pence, 12-month range 289.50p-1,270.00p. Pretax loss in 2021 narrows to £29.0 million from £52.5 million loss in 2020, but revenue drops 4.7% to £494.1 million from £518.2 million and has decided to withhold dividend payments this year after a 8.0p payout the year prior. ‘The board recognises the importance of paying dividends and is committed to reinstating the dividend when appropriate,’ company says. It notes 2021 was a ‘disappointing’ year. Adds: ‘Within Marine Support, the Fendercare ship-to-ship transfer revenues were some 36% behind a record year in 2020. Underlying operating profit fell by 30.9% with the profitability of our Fendercare, JFD and Tankships businesses being particularly challenged. As a result of those performance challenges, combined with a high level of financial leverage, the company did not pay an interim dividend for 2021 and the board is not recommending the payment of a final dividend for the year.’
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