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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Majedie Investments PLC, up 6.7% at 192.03 pence, 12-month range 156.80p - 246.00p. Becomes a member of Marylebone Partners LLP, entitling the firm to 7.5% of its residual profits and capital interest at no consideration cost. This comes as the firm appoints Marylebone Partners as its investment manager. Marylebone Partners currently manages around $400 million for its clients, the investment trust adds. Majedie says it is also proposing a change to its investment objective to pursue ‘high-conviction, long-term approach that is unconstrained by geographic limitations or any formal benchmark.’ Proposal subject to shareholder approval.
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Alfa Financial Software Holdings PLC, up 4.1% at 152.00 pence, 12-month range 128.00p - 221.00p. Reports strong third quarter trading, leading the finance-focused software developer to upgrade its full-year expectations. Notes that, at the end of the quarter, revenue totals £25 million, up 25% against the £20 million recorded the year prior. Cites strong levels of chargeability in its Implementation and Product Engineering teams for the rise. As a result of its performance, Alfa raises its full-year expectations for revenue by £1.5 million.
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Ocean Wilsons Holdings Ltd, up 2.9% at 899.90 pence, 12-month range 795.00p - 1,075.00p. Sees its investment portfolio, including cash under management, fall to $283.3 million at September 30. At December 30, its portfolio amounted to $351.8 million, representing a 20% decline for the nine-month period. This compares to a fall of 25% for the MSCI World Index over the same time, however. The investor’s revenue rises to $118.0 million in the third quarter of 2022, up from $104.0 million previously, thanks to favourable conditions in volume and pricing for its logistics business. Earnings before interest, taxation, depreciation, and amortization rise 13% year-on-year to $50.7 million from $44.9 million.
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SMALL-CAP - LOSERS
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JZ Capital Partners Ltd, down 11% at 154.40 pence, 12-month range 81.00p - 210.00p. Net asset value per share at August 31 rises to $4.71 from $4.29 at February 28. The microcap and real estate-focused investor says it remains focused on its new investment policy. Reduces its outstanding debt to a $45.0 million senior term loan facility due in 2027 and $31.5 million in subordinated notes due 2023. Says the last year and a half has been ‘transformational’ in reducing debt and achieving financial stability.
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Esken Ltd, down 2.6% at 5.55 pence, 12-month range 4.41p - 15.00p. On Wednesday, the aviation services and renewable energy company announced it will begin a strategic review, which will consider the possibility of selling its entire operations business in light of slow financial recovery. In the six months ended August 31, its pretax loss widened to £12.7 million from £12.5 million a year prior.
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