The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.
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SMALL-CAP - WINNERS
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RM PLC, up 8.5% at 96.60 pence, 12-month range 51.00p-106.00p. The educational technology provider expects to report adjusted operating profit between £8.4 million and £8.8 million for the year ended November 30, between 5% and 10% higher than market expectations of £8 million. ‘This has been a year of transformation for RM, and the success of our strategy is reflected in the progress we have made driving profitability and growing our contracted order book. Our focus on the significant opportunities for Assessment has delivered a number of major new digital contracts, alongside operational improvements throughout the business. We are pleased with the progress that has been made and remain focused on reducing our net debt,’ Chief Executive Officer Mark Cook says.
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Taylor Maritime Investments Ltd, up 1.1% at $0.93, 12-month range $0.82-$1.07. The investment company, specialising in bulk carrier segments of the global shipping sector, plans a 4 US cents per share special dividend for 2024. This will be in addition to a quarterly dividend of 2 cents. ‘The board’s intention to pay a special dividend is the result of cash generated from recent disposals completed at, or close to, NAV. Given we’ve been able to realise NAV through vessel sales, it makes sense to return some of the surplus cash to our shareholders who have continued to support TMI since IPO,’ CEO Edward Buttery says.
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SMALL-CAP - LOSERS
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ProCook Group PLC, down 8.2% at 34.06p, 12-month range 16.62p-41.60p. The pots and pans seller reports a slow start to its key third-quarter, amid weak footfall ahead of the UK budget. It also reports its pretax loss in the half-year to October 28 was unchanged annually at £3.2 million. Half-year revenue rises 7.5%, however, to £28.3 million from £26.3 million. In the first eight weeks of the third-quarter, revenue was 7.5% higher on-year, up 0.9% like-for-like. ‘Retail performance was hampered by weak footfall during the early weeks of the second half, coinciding with the budget event, but has improved since. As a result, retail like for like revenue was [down] 4.0%. New stores contributed a further [10.3 percentage] points to deliver total retail revenue growth of 6.3% over the eight weeks,’ ProCook adds.
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