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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Carr’s Group PLC, up 10% at 126.75 pence, 12-month range 101.5p-149.5p. The Carlisle, England-based agricultural and engineering products manufacturer announces the sale of its engineering division, through its interests in Carr’s Engineering Ltd and Carr’s Engineering Inc, to Cadre Holdings Inc. Says the cash consideration represents an enterprise value of £75 million, and expects the deal to conclude in the first half of this year. Carr’s also announces that it has started a separate sale process for precision machining subsidiary Chirton Engineering, and that it has completed the disposal of six non-core properties since August 31. The disposals have generated approximately £4.0 million in proceeds, and Carr’s expects to complete two remaining sales in the second half.
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CAB Payments Holdings PLC, up 3.0% at 68.6p, 12-month range 62.3p-165.6p. The London-based cross-border payment company says 2024 adjusted earnings before interest, tax, depreciation and amortisation are ‘likely to be within the range of analyst consensus estimates’, as second-half operating costs were ‘well controlled’. However, it expects gross income of £105 million for the year, down from £137 million the year before, and says that it did not benefit from ‘a usual seasonal uplift in revenue’ during the second half of 2024. Also says it has planned to streamline its operations this year with a restructuring during the first quarter of this year. This will include a programme to reduce headcount by around 20%, including through a redundancy programme. Chief Executive Officer Neeraj Kapur says: ‘As part of the increased focus on performance we are taking significant steps to re-align the cost base to our strategic growth plans; meaning we can do more with less.’
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SMALL-CAP - LOSERS
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Petra Diamonds Ltd, down 3.1% at 27.05p, 12-month range 25.2p-60.7p. Petra is a diamond miner with operations in South Africa and Tanzania. Barclays has cut its price target for Petra from 39p to 32p, although it kept its ’equal weight’ rating.
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