The following stocks are the leading risers and fallers among London Main Market small-caps on Friday.
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SMALL-CAP - WINNERS
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Thungela Resources Ltd, up 9.0% at 575.00 pence, 12-month range 111.02p-575.00p. Shares rally, hitting 12-month high, after the coal miner said it expects to swing to annual earnings following a surge in coal prices in 2021. The Anglo American spin-off, which has operations in South Africa, expects 2021 earnings per share between R 60.32 and R 61.27, about £2.93 and £2.99, bouncing back from a R 5.31 loss in 2020. Headline EPS are expected to be between R 65.81 and R 66.76, returning from a R 5.31 loss. This came on the back of stronger coal prices in the year as a global energy crunch caused prices to rocket to a high of $274.50 per tonne in October from $69.00 at the start of 2021. Coal prices were still sitting at elevated levels, fetching $189.00 a tonne on Friday around midday.
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SMALL-CAP - LOSERS
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Kin & Carta PLC, down 2.5% at 234.00 pence, 12-month range 133.28p-359.00p. Retreats slightly on Friday after Thursday’s 12% surge following a positive trading update from the digital-transformation consultancy. On Thursday, says it saw ‘continued strong demand’ throughout the first half. Net revenue rose in the first half of financial 2022, and Kin & Carta expects further growth in the second half. For six months to January 31, net revenue was £85 million, up 62% from £52.5 million year before. Kin & Carta says financial 2022 net revenue is set to grow organically by 35% to 40%.
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LSL Property Services PLC, down 0.9% at 395.00 pence, 12-month range 235.00p-490.00p. Joint venture Pivotal Growth Ltd completes acquisition of Grange Mortgage & Protection Services Ltd. Notes Pivotal Growth was established in April 2021 as a joint venture with Pollen Street Capital, to ‘buy and build’ a national mortgage broker. Says Grange is a specialist new build mortgage and insurance brokerage based in Northampton. Adds: ‘Pivotal Growth management team is in active discussion with a number of other brokers that it believes would benefit considerably by being part of Pivotal Growth and we expect to confirm further deals in the near future.’
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Schroder Real Estate Investment Trust Ltd, down 1.3% at 54.00 pence, 12-month range 39.85p-56.50p. Disposes of Nottingham offices for £13 million, at a 39% premium to December 31’s valuation of £9.4 million. Reflects a net initial yield of 4.5%. Expects completion on February 28. Offices bring in net rent of £622,210 per annum, with a weighted average unexpired lease term of 1.7 years. Based on price of disposal, offices have generated total ungeared return of 12.1% per annum since acquisition, outperforming All Property MSCI Benchmark of 5.4% per annum for the same period, and 3.5% MSCI All Offices benchmark.
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