14th Feb 2023 09:31
(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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Norcros PLC, up 4.0% at 219.00 pence, 12-month range 165.00p - 297.00p. The bathroom and kitchen product supplier announces that Chair & Non-Executive Director Gary Kennedy has died. Senior Independent Director David McKeith will continue in the role of acting chair.
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Palace Capital PLC, up 2.5% at 208.00 pence, 12-month range 195.00p - 297.00p. University town and city centre-focused property investor sells an industrial property in Plymouth, England for GBP3.2 million in an off-market transaction. Says this is "marginally ahead" of its book value as at September 30, and 2.6% below the book value as of March 31. Proceeds of the sale have been used to reduce the company's gross and net debt which now stands at GBP74.3 million and GBP62.2 million, respectively.
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SMALL-CAP - LOSERS
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UP Global Sourcing Holdings PLC, down 7.9% at 153.41 pence, 12-month range 90.00p - 163.50p. Expects full-year performance in line with current market expectations, which it does not specify. In the six months ended January 31, revenue increases 2.0% to GBP87.6 million from GBP85.7 million the previous year. Explains that the online channels were the main drive of this growth, supported by the continued normalisation of global supply chains. Adds that customer caution in regard to forward orders is now reducing in the UK, with more normal patterns of order placing returning. Chief Executive Simon Showman says: "Looking ahead, we expect that the current softness in global shipping pricing, as well as the partial recovery in Sterling, will provide additional relief against the ongoing inflationary backdrop." UP Global owns a number of homeware brands including Salter and Beldray. UP stands for Ultimate Products.
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By Heather Rydings, Alliance News senior economics reporter
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Related Shares:
Up GlobalNorcrosPalace Capital