The following stocks are the leading risers and fallers among London Main Market small-caps on Friday.
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SMALL-CAP - WINNERS
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Ceres Power Holdings PLC, up 14% at 227.5 pence, 12-month range 132.5p-326.8p. Pretax loss narrows to £10.8 million in the first half of 2024 from £26.2 million a year before, as revenue more than doubles to £28.5 million from £11.7 million, while cost of sales rises 26% to £5.6 million from £4.4 million. Notes ‘record order intake from signing new contracts of £46.9 million in H1, growing to £103.3 million since the start of the year to [August 31]’. Says due to ‘natural reduction in investment requirements from historical peak levels’, management is implementing a cost base rationalisation that will reduce overall expenditure by around 15%. Confirms upgraded revenue guidance of £50 million to £60 million for 2024, based on contracts secured so far.
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ASA International Group PLC, up 11% at 63 pence, 12-month range 23.8p-101.5p. First-half pretax profit jumps to $28.3 million from $13.8 million. Says it ‘delivered [a] strong operational performance in H1 2024 as the loan book grew following increased demand from clients’. Notes ‘improved performance in Pakistan, the Philippines, Ghana, Tanzania, and Kenya’, which ‘made a key contribution to the Group’s financial performance due to increased loan demand and high loan portfolio quality in all these markets’. Says outlook for the rest of 2024 remains positive, noting its improved business performance, but ‘inflation and related foreign exchange movements are expected to continue to affect financial performance’. Says consensus net profit as of Friday is $16.0 million.
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SMALL-CAP - LOSERS
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SLF Realisation Fund Ltd, down 1.7% at 1.75p, 12-month range 1.565p-4.015p. Says it will return 0.5p per share, £1.8 million in total, to ordinary shareholders. Will return 2.25p per share, £3.1 million in total to C shareholders. Return will be via issue of B and D and subsequent redemption.
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