18th Jun 2025 10:58
(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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Gore Street Energy Storage Fund PLC, up 4.5% at 62.5 pence, 12-month range 44.5p-68.5p. The London-based investor in utility-scale energy storage projects declares a fourth-quarter dividend of 1.0p per share, down from 1.50p the year before. However, it also declares a 3p special dividend from the sale of Big Rock, the proceeds of which it expects in the second half of the current financial year. Net asset value per share is 102.8p as of March 31, down from 107.0p one year prior. Gore Street notes that it has received proceeds from the sale of Dogfish. Also says it has appointed an advisor to help plan its mid-term strategy and capital allocation. Its NAV total return for the year amounts to positive 1.1%, bringing the return since IPO to 48%.
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S&U PLC, up 2.6% at 1,560p, 12-month range 1,260p-1,960p. The Solihull-based lender, focused on motor finance and property bridging, issues a trading update for the period from April 15 to Wednesday. Says its recent performance "is gradually and clearly" justifying the optimism in its annual results, with profitability trending to be ahead of 2024 at the half year and accelerating thereafter. "This pattern is driven by improving sales numbers, stronger collections at Advantage and the tapering of additional professional and regulatory costs associated with the [FCA s166 process] and its remedial aftermath," S&U says. Its Aspen arm "continues to power ahead with record profit for the first quarter", with receivables increasing 7% on-year. Meanwhile, at Advantage, customer receivables are trending above budget, with lending volumes up 50% in the first quarter. "Hence Advantage profit for the quarter is almost on budget and is on course to move ahead by half year," S&U said. Moreover, "a clear and pragmatic decision" is needed in the upcoming Supreme Court judgement to "provide much-needed clarity to the motor finance sector".
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SMALL-CAP - LOSERS
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PZ Cussons PLC, down 1.2% at 77.55p, 12-month range 69.9p-107.4p. The Manchester-based Imperial Leather and St Tropez owner has agreed to sell its 50% equity interest in Nigerian edible oils business PZ Wilmar Ltd to joint venture partner Wilmar International Ltd for USD70 million in cash. It expects approximately USD64 million in net proceeds, which PZ Cussons will use to reduce its gross debt. PZ Cussons also issues a trading update, saying it expects to report like-for-like revenue growth of 8% for the full year with around GBP505 million in reported revenue. Says its second-half performance was driven by continued strong revenue growth in Africa. It now expects between GBP52 million to GBP55 million in adjusted operating profit, narrowed from the previous range of GBP52 million to GBP58 million. Says this reflects the recognition in the fourth quarter of GBP2 million in extended producer responsibility costs related to its UK business.
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By Emma Curzon, Alliance News reporter
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Related Shares:
Gore Street En.S & UPz Cussons