8th Feb 2023 10:20
(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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Trustpilot Group PLC, up 3.3% at 108.5 pence, 12-month range 51.85p-180.3p. The online consumer reviews platform rises as JPMorgan raises the stock to 'overweight' from 'neutral', upping its target price to 150p from 100p.
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Civitas Social Housing PLC, up 2.8% at 61.8p, 12-month range 51.5p-96p. In the quarter ending December 31, the healthcare real estate investment trust says its rent roll increased with inflation, and lease billings continue to reflect consumer price index inflation increases. The trust raises its third quarterly dividend to 1.425p, targeting a total annual payout of 5.70p, rising from 5.55p in the previous financial year. Civitas notes strong demand and decreasing supply within the specialist housing sector. However, net asset value per share at the end of the period falls 3.4% to 110.93p from 114.84p at the end of September.
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SMALL-CAP - LOSERS
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Speedy Hire PLC, down 9.9% at 37.82p, 12-month range 35.5p-58p. The tool and equipment hire services company says a count for its 2023 audit identified a GBP20.4 million deficiency in the value of its non-itemised assets. Back at the end of March, its total hire equipment assets were worth GBP226.9 million, of which non-itemised assets made up GBP49.9 million. It has launched an external investigation into the issue, and the deficiency is expected to be recorded as a one-off non-cash write down in its balance sheet for the year ending March 31. It also says it has closed 20 depots at the end of January, which will cost around GBP2.9 million. This is part of its transition towards a large, more energy-efficient low-carbon depot network. "The associated benefits are expected to be in the region of GBP2.9 million per annum," the firm says.
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By Elizabeth Winter, Alliance News senior markets reporter
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