29th Oct 2024 10:54
(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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Gem Diamonds Ltd, up 8.5% at 11.93 pence, 12-month range 7.67p-15.70p. The stock perks up after a 7.0% slump on Monday. Gem Diamonds shares fell 8.0% last week Wednesday despite the diamond miner in Lesotho and Botswana reporting a revenue hike. Revenue climbed 23% on-quarter in the third quarter to USD42.7 million.
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SMALL-CAP - LOSERS
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Liontrust Asset Management PLC, down 1.1% at 460.50p, 12-month range 457.00p-865.00p. Shares look set for a third-successive daily decline in a sign of nervy trade ahead of Wednesday's UK budget. Earlier in October, the asset manager said it suffered another quarter of outlflows. It explained investor enthusiasm has been damped by pre-UK budget uncertainty, largely stemming from doubt around possible "changes to taxation and reliefs".
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Ultimate Products PLC, down 0.5% at 141.34p, 12-month range 116.54p-185.50p. The owner of homeware brands, including Salter, reports a decline in annual earnings. Revenue in the year to July 31 falls 6.9% to GBP155.5 million from GBP166.3 million. Pretax profit falls 10% to GBP14.3 million from GBP16.0 million. "This continues to be a challenging period for many consumer-facing businesses in the UK, and we are by no means immune from the overall slowdown in spending and weakness in consumer sentiment. However, our growth strategy of building international sales is yielding positive results. Our new showroom in Paris is proving to be instrumental in developing our presence throughout the hugely attractive European market, where we see significant opportunity with the discounters that are driving strong European sales growth in the current year," Chief Executive Officer Andrew Gossage says.
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By Eric Cunha, Alliance News news editor
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