7th Nov 2024 11:12
(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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Mobico Group PLC, up 4.8% at 74.775 pence, 12-month range 46.1p-92.4p. The Birmingham-based transport operator says revenue has jumped 12% on-year in the third quarter, driven by continuing growth in passenger demand. Claims it is "on track" to deliver on its full-year operating profit guidance of GBP185 million to GBP205 million. Its previously announced productivity and cost reduction programmes meanwhile are on track to deliver GBP40 million this year and GBP50 million in annualised savings for subsequent years. Also "on track" is the process for its planned divestment of its North America School Bus business. Says ALSA revenue has grown 23% in the third quarter, reflecting "good growth across the portfolio", which North America revenue rose 19%. UK revenue however decreased 2% driven by its UK Coach business where revenue was down 3%.
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SMALL-CAP - LOSERS
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CAB Payments Holdings PLC, down 19% at 86.15p, 12-month range 53p-165.6p. StoneX Group Inc has confirmed it does not intend to make a takeover offer for the London-based payment processing and foreign exchange company. CAB announced on October 10 that StoneX had made a cash takeover proposal worth 145 pence per share, valuing CAB at just under GBP370 million. Discussions were reportedly ongoing as of October 30, as CAB said StoneX and its advisers were undertaking due diligence. Following StoneX's decision to pull back, however, CAB says it is "highly confident in the company's strategy and is pleased with the strategic progress being made. This is expected to drive attractive, sustainable growth from 2025 onwards".
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Triad Group PLC, down 3.0% at 320p, 12-month range 107.5p-330p. The Godalming, England-based technology consultant reports swing to a GBP474,000 pretax profit for the first half of the year, from the prior year's loss of GBP994,000. Revenue rose to GBP10.2 million from GBP6.4 million, and Triad declares a 2.0p per share interim dividend. Executive Chair John Rigg says his company is "extremely enthusiastic about the outlook" as the results "reflect the company as it currently stands, without being run 'hot' in the pursuit of short-term profit". Also expresses confidence for the second half, "bolstered we anticipate by an increase in opportunities following the settlement of [the UK] government's spending plans".
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By Emma Curzon, Alliance News reporter
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