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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ProCook Group PLC, up 9.1% at 18.50 pence, 12-month range 16.62p-34.00p. The pots and pans seller says revenue in the year to March 31 rises 0.4% to £62.6 million from £62.3 million. It swings to a pretax profit of £700,000 from a loss of £6.5 million. ‘The group has had a strong start to the new financial year with trading momentum continuing to build on the trend established during the last financial year,’ it adds. During the first-quarter of the new year, like-for-like sales rose 3.5%, it adds.
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Funding Circle Holdings PLC, up 7.9% at 96.00 pence, 12-month range 25.00p-100.00p. It extends gains on Wednesday. On Tuesday, the small and medium enterprise loans platform agreed to sell its US business, as it focuses on its UK arm. It has sold its US business to iBusiness Funding LLC for £33 million.
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SMALL-CAP - LOSERS
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Triad Group PLC, down 8.3% at 266.00p, 12-month range 105.00p-300.47p. The technology consultancy reports weaker annual earnings. Revenue in the year ended March 31 declines 5.5% to £14.0 million from £14.9 million. Triad reports a pretax loss of £1.3 million, swinging from a nominal profit of £9,000. It maintains its final dividend at 4p per share, giving an unchanged total dividend of 6p.
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Liontrust Asset Management PLC, down 1.7% at 738.00p, 12-month range 519.00p-865.00p. It reports drop in funds under management and posts an annual pretax loss. The asset manager says assets under management and advice at its March 31 year-end amount to £27.82 billion, down 11% from £31.43 billion 12 months earlier. Net outflows during the year total £6.08 billion. Revenue in the year totals £197.89 billion, falling 19% from £243.34 billion. It swings to a pretax loss of £579,000 from a profit of £49.3 million. Chief Executive Officer John Ions says: ‘We have started to see signs of a change in investor sentiment and this is likely to move significantly when more central banks reduce interest rates and there is greater political and fiscal certainty in the UK. There is no doubt that the amount individuals are investing has been negatively impacted by the cost of living, the reductions in Covid savings and tax rises. With more stability will come greater recognition of valuation opportunities, especially in the UK stock market.’
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