20th Nov 2024 10:48
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.
----------
SMALL-CAP - WINNERS
----------
Nanoco Group PLC, up 3.8% at 11.57 pence, 12-month range 8.36p-24.00p. The Runcorn, England-based manufacturer of cadmium-free quantum dots and other nanomaterials reports weaker annual profit, but affirms a strategy to "maximise value and deliver returns to shareholders". Pretax profit in the year that ended July 31 falls 81% to GBP1.9 million from GBP9.6 million. Revenue, however, rises 40% to GBP7.9 million from GBP5.6 million. Nanoco netted a GBP68.7 million profit on the sale of intellectual property in the prior period, which was not repeated this time around. Chief Executive Officer Dmitry Shashkov says: "We have a clear strategy to address our two core markets of Display and Sensing, along with working to define the opportunities outside of these. We have restructured the organisation to minimise cash burn and focus on commercial growth, reducing our gross annual cost base to around GBP6 million." Nanoco has appointed CDX Advisors LLC to "explore an orderly sale of the group's trading business". Nanoco says any cash reserves will be returned to investors. "In tandem, we are engaged with CDX to identify and pursue external investors for our operating business," Shashkov adds.
----------
Pod Point Group Holdings PLC, up 1.3% at 13.00p, 12-month range 11.90p-25.85p. The stock looks set to register a fourth-successive gain, though this followed a losing streak of six days. So far this month, shares are down 13%. The UK-focused electric vehicle charging solution provider announced on Monday the passing of a "network milestone". Its network of Energy Flex-enabled charge points now exceeds 250,000 units, "a unique achievement in the UK market" and leaving it with the UK's largest charging network.
----------
SMALL-CAP - LOSERS
----------
Mountview Estates PLC, down 5.4% at 8,730.00p, 12-month range 8,550.00p-10,800.00p. Shares in the company hit this 12-month low on Wednesday. The property trading company owns and acquires tenanted residential property throughout the UK, which are sold when vacant. It reports revenue in the half year that ended September 30 declines 4.6% to GBP37.4 million from GBP39.2 million, pushing pretax profit 9.0% lower to GBP18.1 million from GBP19.9 million a year prior. "Although interest rates have been reduced slightly in recent months, they are still at levels last experienced over ten years ago and are a significant factor in our increased costs. Our purchasing activity, which is the future of the company, has remained strong during these six months and we continue to be offered further opportunities. Our financial strength should enable us to take advantage of the best of these, but we will not compromise our financial prudence," Mountview adds.
----------
By Eric Cunha, Alliance News news editor
Comments and questions to [email protected]
Copyright 2024 Alliance News Ltd. All Rights Reserved.