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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ME Group International PLC, up 8.8% at 103.18 pence, 12-month range 55.70p - 119.50p. Upgrades its full-year outlook thanks to a first-half performance which came in ahead of expectations. The instant-service equipment firm notes a strong recovery across continental Europe and robust consumer demand for all its services. Revenue is now expected to be between £256 million and £262 million for the full-year year ended October 31, up from £257 million previously. Earnings before interest, taxation, depreciation, and amortisation is now expected between £82 million and £85 million, up from between £79 million and £84 million previously.
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Oxford BioMedica PLC, up 3.0% at 336.74 pence, 12-month range 276.62p - 1,526.00p. Completes the sale of its Windrush Court laboratory facility for £60 million, exceeding its target offer figure of £55 million. This, the biotechnology firm explains, strengthens its cash position to more than £150 million. In addition, the firm is granted an occupational leaseback of Windrush for 15 years at a rent of £3.5 million per year, rising to £4.7 million per year after five years.
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CT Private Equity Trust PLC, up 2.7% at 429.90 pence, 12-month range 375.51p - 520.00p. Sells a portion of its investment in the Italian funeral services of business of San Siro, part of funeral services firm HOFI Spa, and its related entities. At June 30, the firm’s investment in San Siro was valued at €13.2 million. Firm sells its investment for £11.4 million, representing an uplift of £23.1 million, or 4.8% of the company June 30 net asset value. 25% of the total proceeds from the sale will be re-invested into a new investment in HOFI Spa, it adds.
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SMALL-CAP - LOSERS
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Ondo InsurTech PLC, down 3.3% at 7.25 pence, 12-month range 5.00p - 13.40p. In the six months ended August 31, widens its pretax loss to £2.1 million from £1.6 million the previous year. This comes as the firm books a £706,000 reverse acquisition expense in the period, and costs of sales rise to £511,000 from £475,000. Revenue, meanwhile, jumps to £1.0 million from £646,000 the year prior. Ondo says this revenue growth was driven by a growth in registered devices, which were up 43% against the prior year. ‘While today’s economic situation is challenging, we are well placed to weather the storm... We are managing upward cost pressures on our hardware costs successfully, and although we have seen some cost increases, we have managed to pass these on to our customers,’ the firm adds.
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