The following stocks are the leading risers and fallers among London Main Market small-caps on Friday.
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SMALL-CAP - WINNERS
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Avation PLC, up 11% at 146.24 pence, 12-month range 78.88p-155.00p. The aircraft leasing company sees its shares jump. Avation expects to report a profit for the year ending June 30, which is significantly ahead of current market expectations. Avation notes IATA figures reporting that passenger air travel climbed 14% in the 12 months to March 31, with international travel growing by 19% in revenue passenger kilometres. Avation’s Executive Chair Jeff Chatfield says: ‘The company is at a transition point in terms of improving shareholder returns alongside cash flow generation and growth. We are confident of improving returns to shareholders by carefully optimising the mix of sources of finance available to the company and are finding asset backed financiers to be extremely constructive.’
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Petra Diamonds Ltd, up 1.0% at 43.44 pence, 12-month range 35.13p-77.10p. On Thursday, the diamond mining group says it entered a ‘milestone’ long-term power purchase agreement for renewable energy procurement. Petra will procure wheeled renewable energy for its Cullinan and Finsch diamond mines from Etana Energy, a licenced South Africa energy trader. The agreements will supply each operation with between 36% and 72% of the expected load requirement from financial year 2026 onwards through utilising the existing electrical grid.
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SMALL-CAP - LOSERS
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PensionBee Group PLC, down 3.0% at 144.50p, 12-month range 56.74p-157.50p. The London-based online pension provider provides an update on its proposed expansion into the US. ‘Given the context of the enormous US market opportunity, PensionBee sees the potential for its US business to grow rapidly, becoming at least the size of its growing UK business over the next decade,’ it says.
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