The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.
----------
SMALL-CAP - WINNERS
----------
Costain Group PLC, up 5.6% at 50.6 pence, 12-month range 34.05p-61.8p. The construction and engineering firm says it is progressing towards the resumption of dividend payments after a four-year break. It also reports interim results. Revenue edges down year-on-year to £664.4 million from £665.2 million, while pretax profit declines to £8.5 million from £11.2 million. ‘The increase in operating performance and the positive outcomes regarding the pension review and refinancing, enables the board to consider the resumption of dividend payments, including the payment of an interim dividend in respect of the period to 30 June 2023,’ explains Chief Executive Officer Alex Vaughan. He also goes on to note a positive outlook across the firm’s markets, but recognises the ‘short-term rephasing’ of the government’s transport spending. Costain leaves its expectations for 2023 unchanged, citing good visibility on future revenue. Will update on dividends in an announcement promised ‘shortly’.
----------
Hochschild Mining PLC, up 3.0% at 88.00p, 12-month range 50.4p-95.55p. Shares in the silver and gold miner with operations in North and South America rise as Berenberg raises its price target to 130p from 100p previously. The German investment bank still thinks the stock is a ’buy’.
----------
SMALL-CAP - LOSERS
----------
Oryx International Growth Fund Ltd, down 4.1% at 1,050.1p, 12-month range 880p-1,300p. The Guernsey-based investment fund falls in morning trade. The stock is down 17% over the past six months.
----------
Copyright 2023 Alliance News Ltd. All Rights Reserved.
