21st Nov 2024 10:59
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Thursday.
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SMALL-CAP - WINNERS
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Liontrust Asset Management PLC, up 7.2% at 446.50 pence, 12-month range 410.00p-865.00p. The asset manager says there are a "number of reasons" to assume the outlook for the sector is improving. It also announces a GBP5 million share buyback, keeps its interim dividend at 22.0p per share and expects an unmoved annual payout of 72p. Assets under management at its September 30 half-year end amount to GBP25.96 billion, down 6.7% from GBP27.82 billion at the start of April. Net outflows amount to GBP2.07 billion during the six months, though this is down from GBP3.21 billion a year prior.
Chief Executive Officer John Ions comments: "We are steadfast in our commitment to active management and to our partnership with clients through complementing their other strategies including passive investments. The headwinds facing many of our investment strategies are now being replaced by tailwinds including lower inflation and interest rates. We are seeing improved performance across our funds and we continue to have a strong brand and client engagement."
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SMALL-CAP - LOSERS
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VPC Specialty Lending Investments, down 8.6% at 31.29p, 12-month range 31.29p-74.19p. Shares in the provider of asset-backed lending solutions to emerging and established businesses fall as they go ex-dividend, meaning new buyers do not qualify for the latest payout. Shares are down around 57% over the past 12 months.
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Speedy Hire PLC, down 6.4% at 27.15p, 12-month range 22.50p-41.44p. The tools and equipment hire company reports a swing to a half-year loss, but explains it has kicked off the second half in a promising fashion. In the six months to September 30, it swings to a pretax loss of GBP2.2 million from profit of GBP5.6 million a year prior. This is on revenue which falls 2.4% to GBP203.6 million from GBP208.5 million. CEO Dan Evans says the "second half has started well with hire revenues for October and November to date" up around 3% on-year. Speedy Hire expects annual results in line with board expectations. It keeps its interim dividend at 0.80p per share.
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By Eric Cunha, Alliance News news editor
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