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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Seraphim Space Investment Trust PLC, up 2.5% at 51.60 pence, 12-month range 43.40p - 128.00p. Reports net asset value per share of £1.05 at September 30, up 4.6% from £1.00 at June 30. Portfolio valuation jumps 11% to £207 million from £186 million in the same time period. The space technology investor explains this increase in valuation was driven by £8.9 million in additional investment and a £13.8 million FX gain. ‘We are delighted to report that the NAV of the portfolio has been robust, increasing 5% since last quarter and remaining flat YTD to 30 September 2022, despite the broader economic slowdown. Deal flow and investment activity has remained strong, reflective of the current trends within the broader Space sector,’ comments Chief Executive Mark Boggett.
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Keller Group PLC, up 1.6% at 705.74 pence, 12-month range 589.00p - 1,030.00p. The engineering firm says trading since its half-year results has continued at record levels, despite a challenging macro environment. As a result, Keller remains on track to deliver a full-year performance in-line with expectations, aided by a FX tailwind. Firm also recommends an increase to its final dividend by 5% to 24.5 pence, from 23.3p the year prior. This would take its total payout to 37.7p, up from 35.9p the previous year.
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SMALL-CAP - LOSERS
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Troy Income & Growth Trust PLC, down 1.2% at 69.00 pence, 12-month range 64.43p - 83.00p. Delivers a net assets value total return of negative 9.9% over the year ended September 30. This compares to a negative 4.0% return from the FTSE All-Share Index over the same period. Notes difficult global markets and sterling weakness during the period. Looking forward, company says the coming months will be ‘highly challenging’ for corporate profits. In addition, the UK-focused investor announces that David Warnock will be retiring as chair at the firm’s annual general meeting in January. Proposes Bridget Guerin as his successor.
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Kier Group PLC, down 0.5% at 60.59 pence, 12-month range 56.00p - 123.40p. Says its current financial year has started well, with trading in-line with expectations. Expects its full-year to be weighted to the second-half. At the end of September, the infrastructure, construction and property firm reports an order book at £9.8 billion, unchanged from June 30. 90% of this order book is secured for its financial 2023 year, it adds, ‘providing a high degree of certainty for the group’. Chief Executive Andrew Davies says: ‘The group remains well positioned to continue benefiting from UK Government infrastructure spending commitments and remains focused on the delivery of a sustainable net cash position and a sustainable dividend, in line with our medium-term value creation plan.’
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