7th Aug 2025 10:25
(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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Vanquis Banking Group PLC, up 15% at 118.25 pence, 12-month range 37.40p-118.40p. The Bradford, England-based lender swings to pretax profit of GBP6.2 million in the six months that ended June 30, from a GBP46.1 million loss the year before, despite total income declining 3.1% to GBP219.7 million from GBP226.8 million. This is due to operating costs being reduced by 24% to GBP137.4 million from GBP179.9 million, and impairment charges falling 18% to GBP76.1 million from GBP93.0 million. "The turnaround of Vanquis remains firmly on track and is gaining momentum. The group delivered two consecutive quarters of profitability in the first half and has grown gross customer interest-earning balances over the last three quarters," says Chief Executive Officer Ian McLaughlin, adding: "The recent Supreme Court judgment provides much-needed clarity, and we acknowledge the [UK Financial Conduct Authority's] decision to consult on a motor finance compensation scheme. Vanquis did not participate in discretionary commission arrangements. Our position is clearly differentiated from the unfair relationship decision in the Johnson case, supported by stronger disclosures, much lower average commissions and clear customer consent." Vanquis guides for more than GBP2.6 billion of gross customer interest-earning balances in 2025 and around GBP3.0 billion in 2026. The firm's return on tangible equity is expected in the low single digits for 2025 and the low double digits in 2026.
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Utilico Emerging Markets Trust PLC, up 2.0% at 250.00p, 12-month range 190.04p-251.00p. The Surrey, England-based investor in infrastructure and utility sectors announces a series of "shareholder-friendly initiatives", aiming to increase demand for its shares and enhance their rating over time. This includes a new conditional tender offer structure, benchmarked against the MSCI emerging markets total return index, for up to 25% of Utilico's share capital. It also includes commitments on share buybacks and a progressive dividend policy. Utilico also will bring the scheduled 2026 continuation vote forward to be held on the date of its 2025 annual general meeting, following which it will be held at five-year intervals. "While UEM's long-term performance has been impressive and the share price discount at which the company's shares have been trading has narrowed significantly over recent months, UEM's 20th anniversary is an opportune time to review certain features of the company's structure and distribution policy, to ensure alignment with the current environment and to help drive increased value for shareholders from their investment in UEM," explains Chair Mark Bridgeman.
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SMALL-CAP - LOSERS
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Gore Street Energy Storage Fund PLC, down 1.1% at 61.51p, 12-month range 42.40p-69.00p. The London-based investor in utility-scale energy storage projects notes independent advisory bodies PIRC and Institutional Shareholder Services have recommended shareholders vote against resolutions proposed by RM Funds at a requisitioned general meeting scheduled for August 20. The guidance is in line with the Gore Street board's recommendation for shareholders to reject the resolutions. In mid-July, long-term shareholder RM Funds served notice for a meeting to propose changes to the composition of the Gore Street Energy's board, following "sustained underperformance, a prolonged share price discount, and ongoing concerns regarding governance and strategic direction". RM Funds said at the time it had been privately engaging with the Gore Street board for more than six months, but said the board had rejected its most recent proposal, "leaving us no choice but to take this step". RM Funds proposes the appointment of Brett Lance Miller and Ian Marcus Dixon as independent non-executive directors, who both have "considerable expertise in investment companies and infrastructure assets". It proposes the removal of non-executive directors Patrick Cox and Caroline Janet Banszky.
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By Emily Parsons, Alliance News reporter
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Related Shares:
Vanquis BankingUtilico Emerging MarketsGore Street En.