8th Aug 2023 09:51
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Tuesday.
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SMALL-CAP - WINNERS
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Palace Capital PLC, up 4.3% at 245.00 pence, 12-month range 195.00p-292.00p. The investor in commercial real estate announces further extension to share buyback programme. It says it will re-purchase further 4.3 million shares for no more than GBP11m in total. This represents around 10% of the company's issued share capital. Since July 2022, Palace Capital has repurchased 4.5 million shares. The company has appointed Numis Securities Ltd to manage the programme, which begins today.
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SMALL-CAP - LOSERS
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Zotefoams PLC, down 5.0% at 365.79p, 12-month range 233.00p-415.00p. The cellular material technology producer reports that revenue in the first half of 2023 rose 9% annually to GBP64.6 million from GBP59.0 million. Pretax profit climbs by 49% to GBP9.4 million from GBP6.3 million. It upped its interim dividend by 4.6% to 2.28p per share from 2.18p per share, saying that this reflects "continuing confidence in the group's prospects."
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Superdry PLC, down 6.3% at 65.00p, 12-month range 64.70p-168.00p. The British clothing retailer's stock falls after data on Tuesday reveals UK retail sales eased in July. According to the latest British Retail Consortium and KPMG sales monitor, sales rose 1.5% on-year last month, below the three-month average growth of 3.5%. Sales growth eased from 2.3% a year earlier. July's rise was the weakest year-on-year growth in retail sales since August 2022, according to the BRC. Retail sales had risen 4.9% on-year in June.
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By Sophie Rose, Alliance News reporter
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