The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.
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SMALL-CAP - WINNERS
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India Capital Growth Fund Ltd, up 4.3% at 151.30 pence, 12-month range 114p-166p. The Guersney-based investment company focused on listed mid and small cap companies in India announces a new share buyback programme. Will buy back a maximum amount of £5.0 million up until December 29.
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STV Group PLC, up 2.6% at 189.50p, 12-month range 175p-315p. The Glasgow-based media company says its Studios arm signs a deal with NBCUniversal to develop ’The Underdog’, a new reality format series. A UK version is already in the works for E4 under the working title ’Alan Must Win’.
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SMALL-CAP - LOSERS
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Asos PLC, down 9.5% at 358p, 12-month range 320.33p-1,015p. The online clothing retailer reports a lacklustre set of annual results for the year ended September 3. Revenue drops 10% year-on-year to £3.55 billion from £3.94 billion, as loss before tax widens to £296.7 million from £31.9 million. Net debt at the year-end rises to £319.5 million from £152.9 million a year before. Says its ’Driving Change’ agenda helped to improved core profitability and benefits of around £300 million. Now is focused on delivering revenue growth targets and a near pre-Covid level Ebitda margin in financial 2025. However, for financial 2024, expects sales to decline between 5% and 15%. ‘We have reduced our stock balance by circa 30%, significantly improved the core profitability of the business, strengthened our balance sheet, and refreshed our leadership team,’ says CEO Jose Antonio Ramos Calamonte.
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