26th Sep 2025 10:26
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Friday.
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SMALL-CAP - WINNERS
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Digital 9 Infrastructure PLC, up 4.8% at 9.33 pence, 12-month range 7.52p-20.80p. The London-based investor in internet infrastructure such as data centres and subsea fibre says net asset value per share at June 30 was 32.7p, down 4.9% from 34.4p at December 31 and down 30% from 46.6p the year before. NAV total return for the six months to June 30 is negative 4.7%, against a negative 29.8% return a year prior. The group's pretax loss narrows to GBP14.2 million from GBP171.8 million, as the firm's loss on investments held at fair value trims to GBP14.5 million from GBP168.0 million. "With the first phase of the wind-down largely complete, the company's financial position is now stabilised," says Chair Eric Sanderson. "We have a platform to maximise shareholder value over time, following the full repayment of the [revolving credit facility] and completion of the Aqua Comms sale expected by the end of the year. With value-enhancing initiatives underway at Elio Networks and key decisions in relation to contract renewals regarding Arqiva's DTT business to take place in 2027, significant value remains to be unlocked. The board and investment manager continue to seek opportunities to maximise value for shareholders."
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SMALL-CAP - LOSERS
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Ceres Power Holdings PLC, down 10% at 126.64p, 12-month range 44.00p-312.00p. The Horsham, England-based clean energy technology developer reports a pretax loss of GBP19.0 million for the six months that ended June 30, widened from GBP10.8 million a year prior. Driving the weaker bottom line is a 26% decline in revenue to GBP21.1 million from GBP28.5 million, driven by a weaker performance in Engineering services and licences. This segment saw revenue contract 43% to GBP14.5 million from GBP25.3 million, owing to "significant" one-off licence revenue the prior year as part of the Delta agreement. By contrast, Provision of technology hardware more than doubles to GBP6.6 million from GBP3.2 million. Looking to the full year, Ceres said the most probable revenue outturn for 2025 is around GBP32 million. This represents a 38% decline from GBP51.9 million recorded in 2024. However, the company notes that it is in discussions about a new manufacturing licence agreement, though completion and timing of revenue recognition is uncertain. Should negotiations succeed, "any revenue recognised in the current year would be in addition to the above [revenue] guidance," says Ceres.
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Carclo PLC, down 6.3% at 60.00p, 12-month range 55.60p-63.80p. The Mitcham, London-based provider of precision components says trading in the year to date is in line with its expectations, "with strong margin performance and positive underlying growth", excluding the effects of foreign exchange rate movements, in its CTP Manufacturing Solutions and its Specialty businesses. This offsets lower revenue in Carclo's Design & Engineering segment, which is expected to "partially recover" during the second half. The company reiterates its full-year expectations, and expects its "strong" margin performance to be maintained throughout the year. Working capital remains towards the lower end of a target range of 5% to 7.5% of sales.
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By Emily Parsons, Alliance News reporter
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Related Shares:
Digital 9Ceres PowerCarclo