5th Feb 2025 12:15
(Correcting to clarify Custodian Property Income REIT PLC's net asset value per share rose in its third-quarter to December, from where it stood in September.)
(Alliance News) - 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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James Fisher & Sons PLC, up 9.0% at 333.55 pence, 12-month range 238.72p-371.00p. The marine services firm hails a "solid overall trading performance" through the second half of 2024. It expects underlying operating profit of around GBP29 million, ahead of current market expectations. "I am encouraged by our 2024 performance which will show underlying profit ahead of expectations together with an improved cash position. We ended the year in a stronger position having continued to execute on our turnaround strategy, including undertaking disposals and refinancing our debt facilities. As a result, we are now beginning to see the benefits of our transformation programme coming through," Chief Executive Officer Jean Vernet says.
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Custodian Property Income REIT PLC, up 3.5% at 79.00p, 12-month range 63.80p-87.00p. The investor in "smaller, regional properties" has seen "further evidence that the market has bottomed out". In the third quarter to December 31, the value of its portfolio rose to GBP586.4 million from GBP582.4 million in September. "Benefitting from a diversified portfolio, in the last 12 months the Company has seen two quarters of stable valuations followed by two quarters of modest like-for-like capital growth across almost all asset classes," the firm adds. Its net asset value per share rises to 94.4p at the end of December from 93.6p in September.
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SMALL-CAP - LOSERS
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JPMorgan China Growth & Income PLC, down 2.4% at 227.50p, 12-month range 182.00p-281.00p. A topsy-turvy week for the China-focused investor's stock continues. It had fallen 1.7% on Monday, but perked up 2.2% on Tuesday. Trade tensions between the US and China continue to linger. The US Postal Service said Tuesday it was temporarily suspending inbound parcels from China and Hong Kong, shortly after President Donald Trump's imposition of fresh tariffs targeting Beijing. JPMorgan China Growth & Income's largest holdings include technology firm Tencent Holdings Ltd and e-commerce firm Alibaba Group Holding Ltd.
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By Eric Cunha, Alliance News news editor
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