11th Jun 2025 10:03
(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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Ricardo PLC, up 25% at 419.00 pence, 12-month range 206.00p-536.22p. It agrees to a GBP281 million all-cash buyout from Canadian consultancy firm WSP Global Inc, the two companies announce. Montreal, Quebec-based WSP will pay 430 pence per share for the Shoreham-by-Sea, West Sussex-based environmental and engineering consultancy. The offer is at a 28% premium to Ricardo's 335p closing price on Tuesday. The offer has the backing of Ricardo shareholder Science Group PLC, which agreed to sell 12.4 million Ricardo shares to WSP at the offer price on Wednesday, representing an additional 19.99% toward offer acceptance. Cambridge, England-based Science Group, which has a 21.8% total stake in Ricardo, said cash proceeds from the sale of its shares in Ricardo will amount to GBP53.5 million, giving it a 70% pretax return on investment. Science Group shares were up 11% on AIM.
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Oxford BioMedica PLC, up 1.7% at 339.25p, 12-month range 232.50p-455.00p. The cell and gene therapy contract development and manufacturing organisation hails "strong commercial momentum" during the first half of the year, in an update ahead of its annual general meeting this afternoon. Chief Executive Officer Frank Mathias says: "The company reiterates its financial guidance today and remains focused on supporting clients across all stages of development. OXB remains confident in its near and medium-term targets as set out earlier this year." Back in April, it forecast compound annual revenue growth of over 35% for the 2023-2026 period, as well as a "pivot to profitability" in 2025.
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SMALL-CAP - LOSERS
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Castings PLC, down 4.9% at 260.00p, 12-month range 224.00p-400.00p. The iron casting and machining firm reports weaker annual earnings, amid reduced demand from heavy truck customers. These customers make up over 75% of group revenue. Pretax profit in the year to March 31 declines 74% to GBP5.6 million from GBP21.3 million. Revenue falls 21% to GBP177.0 million from GBP224.4 million. "The schedules from our heavy truck customers suggest that the current lower levels of demand will continue in the short-term with improvements in the autumn," Castings adds.
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By Eric Cunha, Alliance News news editor
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CastingsRicardoOxford BiomedicaScience Group