The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.
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SMALL-CAP - WINNERS
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Triple Point Energy Transition PLC, up 13% at 68.80 pence, 12-month range 51.00p-75.00p. The firm reports annual results and also announces it has sold three combined heat and power loan assets. The firm, currently undergoing a realisation of its assets, says P3P Partners has offered to refinance the CHP portfolio. The portfolio consists of loans to Harvest Generation Services Ltd, Glasshouse Generation Services Ltd and Spark Steam Ltd. They supply heat, electricity and carbon dioxide to an on-site tomato grower. P3P’s refinance offer will see it repay a total of £17.5 million. TPET Chair John Roberts says: ‘Following shareholder approval for a managed wind-down, we are pleased to be making prompt progress in realising shareholder value from the group’s portfolio, with this refinancing reducing the number of investments within the group’s portfolio by three. Thus far we have realised £61.6 million, providing 92% of the value of those investments. We will continue to update the market as we proceed with our plans for returning value to shareholders.’ Its annual results show its net asset value per share at the March 31 year-end totals 86.66p, down 13% from 99.44p.
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Warehouse REIT PLC, up 2.0% at 80.40p, 12-month range 68.00p-93.00p. The warehouse investor completes the sale of £57.5 million single-let assets in three separate transactions. The sales price is in line with the March 31 valuations. ‘This brings total sales since our deleveraging plan was announced in November 2022 to £165.2 million,’ it adds.
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SMALL-CAP - LOSERS
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SIG PLC, down 11% at 24.45p, 12-month range 20.65p-39.36p. The firm cuts its outlook, as the insulation, roofing and building products supplier reports ‘market conditions have remained challenging’. It now expects 2024 underlying operating profit to be in the range £20 million to £30 million, which is below the current analyst range of £36.7 million to £43.0 million. ‘Subdued demand has continued to be a factor in the majority of the group’s markets, reflecting the ongoing softness in the building and construction sector. This impact has been most notable in the French and German markets, and in the end markets of our UK Interiors business. Whilst we continue to see more robust demand in our Poland, Ireland and UK Exteriors businesses, group sales overall were weaker than expected in May and June to date,’ SIG says.
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