The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.
----------
SMALL-CAP - WINNERS
----------
Marston’s PLC, up 3.0% at 39.30 pence, 12-month range 25.55p-39.65p. The pub chain says sales picked up in recent months, with England’s run to football’s Euro 2024 final lessening the hit from a wet start to the UK summer. In the 42 weeks to July 20, like-for-like sales rose by 5.2% on-year, Marston’s says. For the final 16 weeks of that period, they improved 2.4%. ‘We have seen considerable uplift from Euro 2024, with like-for-like sales for the week of the semi-final and final matches rising by 8.0%. This has helped to lessen the impact of recent unseasonably wet weather and a particularly strong comparative period last year. We continue to see positive momentum across both food and drink occasions. Food sales have been particularly encouraging, with changes to our menu proving increasingly popular with guests,’ Marston’s says.
----------
Palace Capital PLC, up 2.2% at 235.00 pence, 12-month range 200.00p-265.00p. Exchanges contracts or has completed on the sale of two investment properties in England, for £12.3 million in total, 2.9% below the March valuation. The properties are Boulton House up north in Manchester, where a £8.8 million sale was sealed on Monday, and Nicholson Gate down south in Fareham, where the £3.5 million deal will be sealed in mid-January. Executive Chair Steven Owen says: ‘Since the announcement of our annual results in June, we have continued to progress our disposal and return of capital strategy and have recently delivered a successful tender offer to support this process. Since July 2022, we have returned over £43 million of cash to shareholders and expect to announce a second tender offer later in the year.’
----------
SMALL-CAP - LOSERS
----------
Centaur Media PLC, down 12% at 33.14p, 12-month range 33.00p-60.00p. The provider of business information, training and specialist consultancy services reports weaker half-year earnings. Revenue declines 7.7% to £16.5 million in the first half of 2024, from £17.9 million a year prior. Pretax profit declines 6.3% to £1.5 million from £1.6 million. Centaur maintains its interim dividend at 0.6p per share. In addition, it announces Colin Jones will not extend his stint as chair when his term expires at the start of September. ‘A search for a new chair is underway and, in order to ensure an orderly handover, Colin will remain in his role until a new chair has been appointed, and his letter of appointment will be extended accordingly,’ Centaur says.
----------
Copyright 2024 Alliance News Ltd. All Rights Reserved.
