13th Mar 2025 10:53
(Alliance News) - 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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LMS Capital PLC, up 24% at 22.80 pence, 12-month range 15.00p-24.00p. The investment company announces a managed realisation of its assets, following a review of its options. "Alongside shareholder feedback, the board has also considered the prevailing and persistent discount to net asset value at which the company's ordinary shares have been trading, the lack of liquidity of trading in its ordinary shares, and the limited prospects for achieving greater scale in the foreseeable future as well as wider market conditions," LMS said. It will seek approval at a general meeting to back a change to its investment policy to facilitate the realisation. It adds: "The company is currently exploring an initial distribution to shareholders which it intends, to the extent practicable, to make as a capital distribution. The board is assessing the amount of any potential distribution in light of working capital and portfolio investment requirements."
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Secure Trust Bank PLC, up 15% at 482.00p, 12-month range 331.00p-950.00p. The retail bank says it is confident in achieving medium-term targets. In 2024, its pretax profit declines 13% to GBP29.2 million from GBP33.4 million. Operating income increases 10%, however, to GBP203.9 million from GBP184.7 million. Net impairment charges on loans and advances to customers increase 43% to GBP61.9 million, hurting its bottom-line. "Subject to no adverse changes in the economy and trading environment, we expect by the end of 2025 we will be well positioned to have largely delivered against our GBP4 billion net lending target," it adds. Shares are down around 30% over the past 12 months, with over the mis-selling of motor finance worries hanging over the stock. It provides motor finance through the V12 Vehicle Finance and Moneyway brands. Secure Trust Bank says it recognised a GBP6.4 million provision. "This comprises potential goodwill/redress payments of GBP5.2 million, and GBP1.2 million of associated costs. As and when new information becomes available, our scenarios and assumptions will be revised and so the provision could be materially higher or lower," it adds. The firm lifted its final dividend by 39% to 22.5p per share from 16.2p. Its total dividend is 5.0% higher at 33.8p per share from 32.2p.
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DFS Furniture PLC, up 11% at 145.00p, 12-month range 95.00p-150.00p. The sofa seller announces a jump in profit for the half-year to December 24. Pretax profit improves to GBP15.8 million from GBP900,000. Revenue amounted to GBP504.5 million, a 0.1% slip from GBP505.1 million. "Trading through the first 10 weeks of our second half has remained strong. Order intake has increased from the 10% achieved in H1, with our year to date order intake now 11% year on year. Whilst we face some tougher prior year comparatives and do not expect to retain this level of growth for the remainder of the period we are confident in delivering a higher underlying profit than the current analyst consensus of GBP22.7 million," DFS adds.
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Fuller, Smith & Turner PLC, up 3.5% at 540.00p, 12-month range 504.00p-780.00p. The pub and hotels firm announces another share buyback. It plans to buyback one million of is 'A' shares, which at current prices, would be worth GBP5.4 million in total. "We believe that the current share price of the Company significantly undervalues the business and does not reflect the intrinsic net asset value of our high quality, primarily freehold estate," it adds. Fuller's says "trading momentum continues to be strong, and we are confident that market expectations will be delivered". It rounds off its financial year on March 29. In addition, it agrees a new GBP185 million bank facility with a consortium of existing relationship banks. The facility is unsecured and available until the end of August 2028. The interest margin is 75 basis points lower than its existing facilities, "reflecting the strong financial position of the company". In addition, it completes a buy-in deal of the Fuller’s pension plan with Legal & General Group PLC, reducing its exposure to "future liabilities". It also announces the acquisition of the The White Swan pub in the Twickenham area of London.
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SMALL-CAP - LOSERS
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Synthomer PLC, down 5.5% at 117.90p, 12-month range 114.00p-338.00p. Berenberg cuts the developer of specialised polymers to 'hold' from 'buy'.
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CAB Payments Holdings PLC, down 4.9% at 51.00p, 12-month range 45.17p-166.20p. The payment processing and foreign exchange provider posts a decline in profit in 2024. Pretax profit falls 52% to GBP17.6 million from GBP37.3 million. Total income falls 23% to GBP105.6 million from GBP137.1 million. "2024 was a 'reset' year. Since then our new and highly experienced senior leadership team is now in place and executing well against our plans driving deeper, stronger and trusted relationships with our clients, central banks and counterparties," CEO Neeraj Kapur says. "We are executing well against our 2025 plan on both revenues and costs and the group will continue on its transformation, generating income growth. The changes that we are making will allow us to focus on delivering on our purpose - supporting fast growing economies in challenging conditions helping to improve prosperity for their people." CAB has endured a difficult stint on the public market so far. The stock has slumped 85% from its GBP3.35 initial public offering price.
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By Eric Cunha, Alliance News news editor
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Related Shares:
Secure TrustDfs FurnFuller Smith & TurnerSynthomerCab PaymentsLms Capital