20th Mar 2024 09:24
(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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PayPoint PLC, up 1.4% at 488.50 pence, 12-month range 372.50p-585.74p. The payment services provider announces partnership expansion with Lloyds Banking Group PLC. Lloyds Bank Cardnet will become the main card acquiring partner across the PayPoint Group's "extensive" network of over 60,000 SME and retailer partners. The expanded partnership will go into pilot in the second quarter of financial 2025, with full launch expected in the third quarter. Chief Executive Nick Wiles says: "The expansion of our long-standing relationship with Lloyds Bank Cardnet Merchant Services has been a key strategic decision for our business and one that we believe will deliver major benefits to our SME and retailer partners. We are confident this partnership expansion will deliver an enhanced proposition and experience which will strengthen our market position, accelerate the growth of our merchant network and provide better tools and support for our SME and retailer partners as they look to grow their own businesses."
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PRS REIT PLC, up 2.9% at 78.39p, 12-month range 65.50p-88.50p. The real estate investment trust reports interim results for the six months ended December 31. Revenue jumps 16% to GBP28.1 million from GBP24.2 million a year earlier. Pretax profit more than doubled to GBP30.3 million from GBP14.7 million. On the back of the resultgs, PRS kept its dividend unchanged at 2.0p per share. For the full year, PRS is targeting a full year dividend of 4.0p. Non-Executive Chair Steve Smith says: "The PRS REIT's portfolio of high-quality, professionally managed, build-to-rent family homes has delivered another strong performance. Despite the continued pressure in the wider economy, I am pleased to report that occupancy levels, rent collection, affordability and demand have all remained at very high levels, whilst arrears continued to stay low."
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SMALL-CAP - LOSERS
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FDM Group Holdings PLC, down 6.4% at 365.50p, 12-month range 341.26p-808.00p. The IT-focused professional services provider reports results for 2023. Revenue in the year edges up to GBP334.0 million from GBP330.0 million a year earlier. Pretax profit climbs to GBP55.6 million from GBP45.7 million. However, FDM kept its dividend unchanged at 36.0p. Looking ahead, FDM expects 2024 results to be "materially" below its earlier expectations. "Reflecting continuing worldwide macroeconomic and geopolitical uncertainties, market conditions in the early months of the current year have remained soft. As we highlighted in January, levels of client engagement remain encouraging. It is however difficult to predict when this will gain sufficient strength to deliver meaningful increases in our Consultants placed with clients," says Chief Executive Rod Flavell.
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By Sophie Rose, Alliance News senior reporter
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