16th Sep 2024 10:48
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.
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SMALL-CAP - WINNERS
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HydrogenOne Capital Growth PLC, up 7.3% at 41.00 pence, 12-month range 38.01p-64.00p. The fund, which invests in clean hydrogen companies, reports an increase in its net asset value in the first six months of 2024. Its NAV per share rises 0.6% to 103.60p from 102.99p in December. "The fundamentals of the clean hydrogen sector continued to strengthen, despite continued weak macroeconomic conditions. The investment adviser has tracked a 50% increase in green hydrogen production over the last year, and a 25% increase in investment in the sector so far this year, compared to all of 2023, underpinning further growth," the firm says.
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NCC Group PLC, up 3.0% at 172.60 pence, 12-month range 94.50p-173.00p. Shares climb again as sentiment towards the stock improves after a guidance boost on Thursday. The cybersecurity firm on Thursday raised its profit outlook, citing a healthy performance in its Cyber Security division. The Manchester-based cyber security company said that for the four months to September 30, it now expects adjusted operating profit of around GBP6 million, on revenue of GBP104 million. It had previously predicted profit of GBP3.5 million on revenue of around GBP100 million. It had suffered a USD1 million loss a year prior.
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SMALL-CAP - LOSERS
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TT Electronics PLC, down 31% at 98.20p, 12-month range 89.20p-184.00p. The electronic component manufacturer reports a weak August after "operational efficiency issues in two North American sites". It now expects revenue in the second half of 2024 to be "GBP15 million to GBP20 million lower than previously anticipated". "The drop-through impact of the revenue shortfall and higher production costs are expected to impact the North American operating profit by GBP13 million to GBP18 million," TT Electronics warns. It now expects group adjusted operating profit for the year between GBP37 million and GBP42 million.
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By Eric Cunha, Alliance News news editor
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