The following stocks are the leading risers and fallers among London Main Market small-caps on Thursday.
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SMALL-CAP - WINNERS
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Foxtons Group PLC, up 3.7% at 61.80 pence, 12-month range 35.00p-71.40p. The estate agent’s top line grows for the third quarter in succession and revenue from its property sales arm spikes to a near 10-year high. In the third-quarter of 2024, revenue rises 8.0% to £47.4 million from £43.9 million. It is the ‘third consecutive quarter of revenue growth in 2024, and the highest Q3 sales revenue since 2015’, Foxtons says. Sales unit revenue jumps 36% annually in the third-quarter to £13.5 million. Lettings revenue is flat at £31.6 million.
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AEW UK REIT PLC, up 2.8% at 96.19p, 12-month range 81.00p-104.20p. The real estate investment trust reports a rise in net asset value, amid a Bank of England rate cutting cycle which may breathe new life into the commercial property sector. Its net asset value per share at September 30 improves to 109.05 pence per share from 105.91p at the end of June. ‘With one interest rate cut made by the Bank of England in August, and at least one more anticipated prior to calendar year-end, further yield compression is expected for the industrial sector in the near term, which should amplify capital performance,’ it says.
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SMALL-CAP - LOSERS
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PensionBee Group PLC, down 5.3% at 175.19p, 12-month range 59.80p-191.00p. The online pension services provider raises £20 million in a placing. It raises the funds through an issue of 10.8 million shares at 185p each, which was its closing price on Wednesday. ‘Prior to launch of the placing, the company consulted with a significant number of its shareholders to assess their feedback as to the purpose of the placing. Feedback from this consultation was supportive and as a result the board has concluded that the placing is in the best interests of shareholders and wider stakeholders and will promote the long-term success of the company,’ PensionBee says. Late Wednesday, it said its ‘substantial growth has continued over the third quarter’. Assets under administration rose 41% on-year to £5.5 billion from £3.9 billion. Quarterly revenue rose 37% year-on-year to £9 million from £6 million and it was adjusted earnings before interest, tax, depreciation and amortisation positive during the quarter. Its adjusted Ebitda amounted to £1 million, swinging from a loss of £1 million.
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