6th Jun 2024 10:55
(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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Schroder Real Estate Investment Trust Ltd, up 2.0% at 44.29 pence, 12-month range 39.15p-47.45p. The UK-focused property investor posts net asset value per share as at March 31 of 58.8p, down from 61.5p a year prior, which it attributes to an underlying portfolio value decline of 2.8%. NAV total return was positive 1.1%, compared to negative 15.1% the year prior. Also notes service charge costs of GBP1.5 million, down from GBP1.7 million. Looking forwards, says it is well placed to benefit amid exposure to higher growth sectors, adding that much of the real estate sector is now delivering nominal rental growth. Posts a fourth interim dividend of 0.853p.
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SMALL-CAP - LOSERS
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S&U PLC, down 3.1% at 1,884.00p, 12-month range 1,750.00p- 2,490.00p. The specialist motor and property finance lender says that it has continued to trade solidly in challenging economic, regulatory, and political conditions. Explains that this will be "a year of consolidation" for Advantage Finance, its motor business, and a year of "substantial progress" for Aspen, its property finance business. Accordingly, posts first quarter pretax profit of GBP6.9 million from GBP10.5 million, on net assets of GBP235 million from GBP228 million a year prior. It noted that increased impairment provisioning due to lower repayments at Advantage accounted for GBP3.6 million of the fall in profit. Chair Anthony Coombs says: "Although fully cognisant of the challenges currently being negotiated at Advantage, an improving economic outlook both for consumers and businesses, a strong labour market and greater political stability will all benefit S&U over the coming year. We wrestle on with confidence."
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By Holly Beveridge, Alliance News reporter
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