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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Speedy Hire PLC, up 2.9% at 29.42 pence, 12-month range 22.50p-38.95p. The tool and equipment hire firm reports an annual revenue decline but a profit rise, and says the new year has ‘started well’. Revenue in the financial year that ended March 31 falls 4.3% to £421.5 million from £440.6 million. Pretax profit jumps to £5.1 million from £1.8 million. Speedy Hire maintains its dividend at 2.60p per share. ‘The new financial year has started well and is marginally ahead of last year,’ it says. It expects a full-year performance in line with board expectations. It believes ‘operational efficiencies and supply chain optimisation’ will boost its annual outturn.
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XP Power Ltd, up 2.0%, at 1,430.00p, 12-month range 682.40p-2,489.20p. Shares in the power controllers maker recover some ground following a 10% slide on Tuesday, when suitor Advanced Energy Industries Inc said it no longer plans to make an offer for XP Power. AEI is a maker of precision power conversion, measurement, and control solutions. In May, it said it had made three all-cash takeover approaches for XP Power, each slightly higher than the last. The first offer in October valued XP Power’s equity at £339 million, a second roughly two weeks later in November at £369 million and the most recent, in May, at £468 million. Including debt, the latest proposal had a total value of £571 million.
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SMALL-CAP - LOSERS
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Bloomsbury Publishing PLC, down 1.6% at 608.00p, 12-month range 365.00p-634.00p. Shares in the London-based publisher return some recent gains. The stock had risen in each of the three days prior, adding 4.0%.
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