4th Apr 2024 10:52
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Thursday.
----------
SMALL-CAP - WINNERS
----------
Gulf Marine Services PLC, up 11% at 21.80 pence, 12-month range 4.40p-22.00p. The provider of self-propelled and self-elevating support vessels for the offshore oil, gas, and renewable energy sectors reports double-digit earnings growth in 2023, and it sets out lofty 2024 guidance. Revenue in 2023 rises 14% to USD151.6 million from USD133.2 million. Its pretax profit jumps 66% to USD44.9 million from USD27.1 million. Earnings before interest, tax, depreciation and amortisation are 22% higher at USD87.5 million from USD71.5 million. For 2024, it expects an adjusted Ebitda between USD92 million and USD100 million, possibly a rise of 14%.
----------
CAB Payments Holdings PLC, up 10% at 122.20 pence, 12-month range 46.10p-337.00p. The cross-border payments and foreign exchange company's Dutch subsidiary secures a payment service provider licence with De Nederlandsche Bank NV. It means it will now be eligible to provide its services across the entire European Economic Area operating under the name of CAB Payments Europe. CAB Payments has had a rocky time since listing. A revenue growth warning knocked 72% off its value in a single day in October. Shares look set to register a fourth-successive day of growth, but are down around two-thirds from the GBP3.35 initial public offering price.
----------
SMALL-CAP - LOSERS
----------
Invesco Asia Trust PLC, down 3.3% at 304.50p, 12-month range 283.00p-349.00p. Shares in the Asia-focused investor fall as it goes ex-dividend, meaning new buyers do not qualify for the latest payout. Shares in the trust are largely unchanged so far in 2024, falling just 0.8%.
----------
By Eric Cunha, Alliance News news editor
Comments and questions to [email protected]
Copyright 2024 Alliance News Ltd. All Rights Reserved.