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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Hansard Global PLC, up 12% at 38.75 pence, 12-month range 0.33p - 38.75p. In the year ended June 30, posts a pretax profit of £3.8 million, down from £5.1 million the previous year. New business sales fall to £120.5 million from £173.0 million. Assets under administration at June 30 drops to £1.09 billion from £1.22 billion at the same time the previous year. The long-term savings provider said the fall in assets reflected declines in global stock market over the latter part of the year. Final dividend stays unchanged at 2.60 pence per share. Chief Executive Graham Sheward says the company faced a challenging year and is working hard to improve new business levels.
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Zenith Energy Ltd, up 6.8% at 1.09 pence, 12-month range 0.0070p - 1.15p. Makes an offer to the government of Benin for the award of an initial nine-year licence to operate Block 1 in the Seme oilfield, offshore Benin. The block has estimated recoverable reserves of 22 to 28 million barrels of oil and 428 billion cubic feet of natural gas. Chief Executive Andrea Cattaneo says the area is the largest and most prospective oilfield in Benin.
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Smiths News PLC, up 5.3% at 29.18 pence, 12-month range 27.00p - 41.00p. Notes a ‘good’ trading performance in the second half of 2022, with a positive sales mix an ‘focused’ operational control. The newspaper and magazine seller now expects adjusted earnings before interest, tax, depreciation and amortization for the year ended August 27 at no less than £40 million, ahead of market expectations. Explains sales have returned to historic trends, with higher margin one-shots. Adds fuel prices and other inflationary pressures continue in line with expectations and prior guidance. Company says it expects to be in a position to recommend a final dividend of no less than 2.7 pence per share.
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SMALL-CAP - LOSERS
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Polymetal International PLC, down 11% at 201.00 pence, 12-month range 0.92p - 219.86p. Announces its intention to conduct an offer to exchange shares currently affected by the EU asset freeze on the national settlement depository. Offer is subject to shareholder approval at a general meeting on October 12. Explains that as a result of sanctions, shareholders who hold their shares through the NSD have been unable to receive dividends or take part in corporate actions of the company. Says the offer invites those affected to tender shares for exchange in consideration for the issuance of a certificated share, on a one-for-one basis. Cautions that it cannot extend this to all shareholders affected due to restrictions imposed by laws and sanctions, however.
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Nippon Active Value Fund PLC, down 4.1% at 109.77 pence, 12-month range 98.83p - 145.00p. Net asset value per share at June 30 falls to 121.03 pence from 137.90p at December 31. Net assets fall to £136.8 million from £156.0 million in the same time period. In the six months to June 30, the Japan-focused investment firm reports a total NAV return per share of negative 10.9%, compared to a return of positive 10.1% the year prior. For comparison, the MSCI Japan Small Cap Index returned negative 8.7% over the same period. Company decides not to declare an interim dividend. Chair Rosemary Morgan says it was an ‘exceptionally’ difficult period for all markets, and adds the yen was particularly weak.
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PensionBee Group PLC, down 1.6% at 75.00 pence, 12-month range 70.00p - 150.80p. In the six months ended June 30, widens its pretax loss to £16.9 million from £12.8 million the previous year. Revenue, meanwhile, rises to £8.3 million from £5.4 million. The online pension provider notes high levels of growth in line with its last trading update. Assets under administration at June 30 rises 35% to £2.68 billion from £1.99 billion at the same time a year prior. Active customers jumps 59% to 246,000 from 155,000 year-on-year. Does not pay any dividend. Firm notes macroeconomic uncertainty moving forward but remains confident of its medium-term objectives, including monthly adjusted earnings before interest, tax, depreciation, amortization by the end of 2023.
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