21st Aug 2024 09:44
(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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Mobico Group PLC, up 13% at 65.76 pence, 12-month range 45.50p-93.25p. Mobico pledges to take further steps to cut debt as it attempts to improve its financial position, which saw the firm pass on paying a dividend for the first half. These include starting the formal process to sell its North American business plus company-wide initiatives to cut debt. Chief Executive Ignacio Garat says: "Addressing our leverage remains a priority and in addition to commencing the formal sale process for North American School Bus, we have identified new organic debt reduction initiatives that will deliver in the second half." In the six months to June 30, the Birmingham-based transport operator, formerly known as National Express, says pretax loss narrowed to GBP1.5 million from GBP41.9 million a year prior. Revenue climbs 7.6% to GBP1.65 billion from GBP1.57 billion.
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Costain Group PLC, up 3.7% at 98.10p, 12-month range 44.40p-100.50p. The construction and engineering company reports that revenue in the first half of the year falls to GBP639.3 million from GBP664.4 million a year earlier. Pretax rises to GBP17.0 million from GBP8.5 million. Costain left its dividend unchanged at 0.4p each. It also announces a GBP10 million share buyback. Looking ahead, Costain left its expectations unchanged for the year.
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SMALL-CAP - LOSERS
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Rank Group PLC, down 3.6% at 75.20p, 12-month range 60.40p-99.80p. The casino operator falls after slow start to 2024. In the year-to-date shares are up just 1.2%.
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By Sophie Rose, Alliance News senior reporter
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