The following stocks are the leading risers and fallers among London Main Market small-caps on Tuesday.
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SMALL-CAP - WINNERS
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City of London Investment Group PLC, up 3.5% at 372.5 pence, 12-month range 300.00p-403.64p. For year ended June 30, net fee income rises 1.1% annually to $66.2 million from $65.5 million. Pretax profit rises 2.2% to $22.6 million from $22.1 million. Says funds under management totalled $10.2 billion, up 8.8% from $9.4 billion one year prior. Maintains final dividend at 22p per share, with total payout unchanged at 33p. Looking ahead, Chair Rian Dartnell says: ‘Positive momentum appears to be building at a time when a number of factors are improving’ and that ‘it gives me confidence to be a part of a group with conservative business practices, dedicated and talented teams and a recurring cash flow business model’.
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Oxford BioMedica PLC, up 2.1% at 367.5p, 12-month range 166.8p-380.5p. Extends gains after rising 0.8% on Monday. Shares look set to register fourth rise in succession. On Monday, the cell and gene therapy contract development and manufacturing organization said revenue for the first half of 2024 rose 18% annually to £50.8 million from £43.1 million. Pretax loss narrowed to £35.7 million from £52.3 million. Research & development costs dropped 50% to £15.8 million from £31.4 million. It reiterated its existing near-term and medium-term financial guidance, including revenue between £126 million and £134 million for the full year.
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SMALL-CAP - LOSERS
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Card Factory PLC, down 17% at 119p, 12-month range 90p-143p. Says revenue rises 5.9% annually to £233.8 million for the six months ended July 31, from £220.8 million. Reinstates interim dividend with a 1.2p per share payout, ‘with interim dividends unable to be paid last year due to restrictions that remained in place until [January 31]’. Says this reflects approximately 25% of the expected full-year dividend. However pretax profit drops 43% to £14.0 million from £24.7 million, ‘reflecting substantial increases in national living wage, plus freight inflation and phasing of strategic investments’. Says that trading since July 31 has been in line with first-half results, and that its expectations for the year to January 31, 2025 are unchanged. Adds: ‘Over the medium term the board remains confident in seizing the compelling growth opportunity for the business, which will help deliver on our FY27 targets which remain unchanged.’
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