14th May 2025 10:10
(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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Vanquis Banking Group PLC, up 10% at 77.30p, 12-month range 37.40p-76.60p. The lender reports GBP2.31 billion in gross customer interest earning balances in the first quarter that ended March 31, up 0.2% from GBP2.31 billion in the fourth quarter that ended December 31 and rising 1.8% on-year from GBP2.27 billion. Net receivables grew 1.0% during the three-month period to GBP2.18 billion from GBP2.16 billion in the fourth quarter, and were 6.7% higher than GBP2.04 billion the year before. Its Personal Loan portfolio sale completed at the end of the first quarter, generating a small gain and reducing gross customer interest-earning balances by GBP49 million, and net receivables by GBP44 million. "Vanquis' strategic delivery remains on track," says Chief Executive Officer Ian McLaughlin. "The group returned to profitability and grew gross customer interest earning balances, building on the momentum shown during 4Q 2024."
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Rank Group PLC, up 6.8% at 113.00 pence, 12-month range 63.60p-114.60p. The casino operator expects to add 882 gaming machines to its current Grosvenor estate of 1,367 machines over the coming months, following the UK government's publication of three statutory instruments to enable land-based casino reforms in its review of the 2005 Gambling Act. The instruments identify July 22 as the date on which the number of gaming machines permitted in casinos will be increased, as well as when the opportunity to provide sports betting will be allowed in casinos in England and Wales. The timing of Rank's new gaming machines being installed will be subject to its completing applications for its casino licences. Rank says the total opportunity within its current estate is 3,112 machines, which requires investment into its casinos that it anticipates gradually completing over the next two to three years. The group intends to engage with government officials in Scotland for the reform of its Scottish casinos. Rank will release its full-year results for the year that ended June 30 on August 14.
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SMALL-CAP - LOSERS
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Gulf Marine Services PLC, down 7.0% at 17.10p, 12-month range 14.15p-21.00p. The provider of self-propelled and self-elevating support vessels for the offshore energy sector said its appeal has been denied by a court in relation to a USD9.2 million tax assessment received in 2021 from the Saudi Zakat, Tax & Customs Authority. The amount related to the transfer pricing of an inter-group bareboat agreement between 2017 and 2019. Gulf Marine says the total amount awarded under the judgement against the group is yet to be communicated, and that "management will work on obtaining a waiver of the penalties". The group also on Wednesday says adjusted earnings before interest, tax, depreciation and amortisation guidance for 2025 remains in the range of USD100 million to USD108 million. This compares to USD100.4 million in adjusted Ebitda in 2024. The group continues to target Ebitda between USD105 million and USD115 million for 2026.
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By Emily Parsons, Alliance News reporter
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RankVanquis BankingGulf Marine Services