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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International Personal Finance PLC, up 11% at 111.93 pence, 12-month range 89.39p-134.50p. The company, which offers unsecured consumer credit in nine countries, says 2023 pretax profit lands ahead of its ‘internal plans’, rising 8.4% to £83.9 million from £77.4 million. Revenue rises 19% to £767.8 million from £645.5 million, or by 12% at constant currency. IPF lifts its final dividend by 11% to 7.2p per share from 6.5p. Its annual dividend is 12% higher at 10.3p from 9.2p.
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Ceres Power Holdings PLC, up 5.7% at 155.10 pence, 12-month range 135.10p-444.80p. The clean energy technology developer delays its annual results. They had been scheduled for next week Wednesday, but will instead arrive at a soon-to-be announced revised date. Ceres says its auditor BDO needs more time. Ceres says it will make ‘adjustments that principally relate to the timing of recognition of revenue from long term contracts’. This will mean revenue will get a ‘modest’ lift relative to its prior £21 million to £22 million outlook. It trims revenue from prior years, however.
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Gem Diamonds Ltd, up 3.5% at 10.00 pence, 12-month range 8.50p-28.80p. Revenue falls 26% to $140.3 million in 2023 from $188.9 million in 2022. Pretax profit plunges 81% to $5.7 million from $30.4 million. The diamond miner, which has operations in Lesotho and Botswana, says tough economic conditions ‘significantly impacted rough and polished diamond prices’. However, it is ‘cautiously optimistic that prices will stabilise’, before seeing some growth towards the end of this year.
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SMALL-CAP - LOSERS
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Capital Ltd, down 2.0% at 89.15p, 12-month range 74.00p-106.58p. The mining services company says revenue in 2023 is below the guidance range of $320 million to $340 million, amid a ‘number of headwinds’. It reports ‘subdued activity’ in Mali and notes operations were suspended in Sudan with Perseus Mining Ltd. Revenue in 2023 rises 9.7% to $318.4 million from $290.3 million. Pretax profit rises 56% to $50.3 million from $32.6 million.
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