The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.
----------
SMALL-CAP - WINNERS
----------
Mobico Group PLC, up 13% at 65.76 pence, 12-month range 45.50p-93.25p. Mobico pledges to take further steps to cut debt as it attempts to improve its financial position, which saw the firm pass on paying a dividend for the first half. These include starting the formal process to sell its North American business plus company-wide initiatives to cut debt. Chief Executive Ignacio Garat says: ‘Addressing our leverage remains a priority and in addition to commencing the formal sale process for North American School Bus, we have identified new organic debt reduction initiatives that will deliver in the second half.’ In the six months to June 30, the Birmingham-based transport operator, formerly known as National Express, says pretax loss narrowed to £1.5 million from £41.9 million a year prior. Revenue climbs 7.6% to £1.65 billion from £1.57 billion.
----------
Costain Group PLC, up 3.7% at 98.10p, 12-month range 44.40p-100.50p. The construction and engineering company reports that revenue in the first half of the year falls to £639.3 million from £664.4 million a year earlier. Pretax rises to £17.0 million from £8.5 million. Costain left its dividend unchanged at 0.4p each. It also announces a £10 million share buyback. Looking ahead, Costain left its expectations unchanged for the year.
----------
SMALL-CAP - LOSERS
----------
Rank Group PLC, down 3.6% at 75.20p, 12-month range 60.40p-99.80p. The casino operator falls after slow start to 2024. In the year-to-date shares are up just 1.2%.
----------
Copyright 2024 Alliance News Ltd. All Rights Reserved.
