4th Mar 2025 10:47
(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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Alternative Income REIT PLC, up 3.1% at 71.00 pence, 12-month range 65p-73.4p. The London-based investor in commercial property assets, reporting its first-half results, says it is on track to deliver on its annual dividend target of 6.2p, up from 5.9p in the year ended June 30, 2024. NAV as of December 31 is 81.94p per share, up from 80.90p at June 30. Says the NAV total return for the half year is positive 5.21%, compared with 0.96% the year before. Declared interim dividends totalling 3.1p, up 8.8% from 2.85p. Pretax profit totals GBP3.4 million, up from around GBP600,000, with EPRA earnings per share rising to 3.28p from 2.75p. "The board remains confident that the company is well-positioned for the future, with a resilient portfolio well-placed to continue to provide secure, index-linked income with the potential for capital growth," comments Chair Simon Bennett.
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SMALL-CAP - LOSERS
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XP Power Ltd, down 5.0% at 976.83p, 12-month range 982.5p-1,720p. The Singapore-based maker of power control systems swings to pretax loss of GBP7.7 million for 2024, against the prior year's GBP11.2 million profit. Revenue falls on-year to GBP247.3 million from GBP316.4 million, with order intake decreasing to GBP181.6 million from GBP208.8 million. Company declares no dividends for the year, having paid 75.0p total for 2023. Notes "continued challenging market conditions" going into 2025, and says that "recent US trade restrictions are causing increased headwinds for sales to Semiconductor Manufacturing Equipment customers in China, which we expect to result in a sequentially weaker first half result". Due to its "relative lack of visibility" for the year ahead, XP Power also announces a placing worth up to GBP40 million at 975p per share, and a retail offer of up to GBP2 million at the same price. Fundraise is intended to "prudently strengthen the [company's] balance sheet". Net proceeds will also be used to "complete the build and fit out of the Group’s Malaysia facility".
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Smiths News PLC, down 2.2% at 54.96p, 12-month range 47.3p-68.6p. The Swindon, England-based newspaper and magazine distributor announces that Chief Financial Officer Paul Baker has informed the board of his plans to step down. Baker will be joining "a large private business, operating in a different sector". Smiths says he will remain through his notice period while the company decides on his successor "to ensure a seamless and effective transition of responsibilities, at which point a final departure date will be confirmed". Adds that it plans to release a pre-close trading update in March, for the half year ending March 1. CEO Jonathan Bunting says Baker "is leaving the business in a strong financial and operational position".
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By Emma Curzon, Alliance News reporter
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