The following stocks are the leading risers among London Main Market small-caps on Thursday.
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SMALL-CAP - WINNERS
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RM PLC, up 2.0% at 102 pence, 12-month range 73.5p-118p. The Abingdon, England-based provider of educational technology and assessment solutions announces the official launch of adaptive virtual accreditation platform RM Ava. Says this is ‘a major step forward for the company’s digital assessment-focused growth strategy’ and follows a £6 million investment into RM Ava’s development. The platform ‘supports the full assessment lifecycle modularly’ and thereby ‘addresses a key customer need, as RM’s research has shown that access to a single platform that spans the full assessment lifecycle is key to adoption for many customers’. RM has been focused on expanding its digital assessment offerings, saying the transition ‘provides the opportunity to drive global growth alongside expanded margins’.
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Palace Capital PLC, up 2.0% at 225.5p, 12-month range 202p-245p. The London-based property investor reports pretax profit of £1.4 million for the year ended March 31, against a £9.3 million loss the year before. Basic earnings per share total 4.5 pence, compared with LPS of 23.7p. Net rental income however has dropped 50% to £4.8 million from £9.6 million. Gross property income decreased to £6.9 million from £12.1 million. Dividends during the year total 15.0p per share, unchanged on-year. ‘During the financial year...we made further progress on our strategy to return capital to shareholders through the disposal of investment and residential properties. This was achieved through the sale of £35.0 million of assets at 6.0% above the 31 March 2024 valuation and returning cash of £21.7 million to shareholders by way of a successful, oversubscribed tender offer in July 2024,’ Executive Chair Steven Owen says. He continues: ‘The success of our disposal strategy since July 2022 means that the company is now debt free and the remaining portfolio is unencumbered...It is therefore anticipated that the company will return further cash to shareholders by way of a tender offer expected to be in July once the disposal of its property at Leamington Spa has been completed.’
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