The following stocks are the leading risers and fallers among London Main Market small-caps on Thursday.
----------
SMALL-CAP - WINNERS
----------
Capita PLC, up 9.4% at 31.87 pence, 12-month range 19.9p-32.4p. The outsourcing services provider says that despite declining operating performance, it reduced its net debt on December 31 by 45% to £482.4 million from £879.8 million a year earlier. ‘Balance sheet pressure has now been removed, allowing management to properly focus on a positive development trajectory,’ Shore Capital analysts explain. Reports annual pretax profit droppes 79% to £61.4 million from £285.6 million in 2021, while revenue decreases by 5.3% to £3.01 billion from £3.18 billion.
----------
SMALL-CAP - LOSERS
----------
Funding Circle Holdings PLC, down 4.2% at 57.5p, 12-month range 29.68p-82.1p. The lender to small businesses swings to a pretax loss of £12.9 million in 2022 from £64.1million profit in 2021. Loan originations in 2022 fall 35% to £1.5 billion, as loans-under-management fall 16% to £3.7 billion. Total income drops sharply to £148.7 million from £206.9 million. ‘We were prudent in our lending in 2022, and will continue to be whilst conditions remain challenging — as expected in the UK in 2023, where we have pushed out our 2025 income targets by a year,’ says CEO Lisa Jacobs.
----------
Saga PLC, down 3.6% at 168.18p, 12-month range 71.1p-293.2p. The over-50s travel operator said it has terminated discussions with Australia’s Open Insurance Technologies about a potential sale of Acromas Insurance, the underwriter of Saga’s wider insurance business. The parties failed to reach an agreement. In late January, Saga confirmed it was seeking buyers for the underwriting business.
----------
Copyright 2023 Alliance News Ltd. All Rights Reserved.
