26th Feb 2025 11:04
(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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abrdn Diversified Income & Growth PLC, up 4.9% at 46.8 pence, 12-month range 41.1p-83p. The company, which had previously looked to invest in a "globally diversified multi-asset portfolio", issues an update on its managed wind-down. Says it has continued to explore the available options to conduct an orderly realisation of its remaining assets, seeking to optimise value whilst progressively returning cash to shareholders. Has in particular "been considering the opportunities available for secondary sales of private market assets", noting that market challenges remain because "liquidity remains very selective and focused on the most attractive sectors". Confirms that it is in "early-stage discussions, on an exclusive and confidential basis, with a third party regarding a potential transaction in relation to all or substantially all of the remaining portfolio". Says the third party is currently exercising due diligence.
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International Personal Finance PLC, up 3.9% at 132 pence, 12-month range 100.5p-163.5p. The Leeds-based provider of credit products and insurance services reports final results for 2024. Pre-exceptional pretax profit is GBP85.2 million, up 1.5% from GBP83.9 million in 2023 and ahead of its guidance. Statutory pretax profit decreased 13% to GBP73.3 million from GBP83.9 million, however, and revenue decreased to GBP726.3 million from GBP767.8 million. Proposes increasing the final dividend by 11% to 8.0p per share from 7.2p, boosting the full-year dividend by 11% to 11.4p from 10.3p. Also announces its intention to start a new share buyback programme worth up to GBP15 million, which it expects to complete by the third quarter. "With good growth momentum and a strong balance sheet, we enter 2025 in an excellent position to accelerate both growth and the pace of change across the group," CEO Gerard Ryan comments.
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SMALL-CAP - LOSERS
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TT Electronics PLC, down 1.2% at 80.8p, 12-month range 73.6p-179p. Broker Jefferies has cut its price target for the manufacturer of electronic solutions for critical applications, to 88 pence from 97p, while maintaining a 'hold' recommendation. This follows TT's announcement on Tuesday that its 2024 results would be delayed by up to two weeks, and that it no longer expects its medium-term 12% adjusted operating margin target to be delivered in 2026. It also predicted a non-cash accounting impairment of goodwill and fixed assets worth up to GBP35 million regarding its North America operations.
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By Emma Curzon, Alliance News reporter
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