The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.
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SMALL-CAP - WINNERS
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Ocean Wilsons Holdings Ltd, up 7.2% at 1,054.9 pence, 12-month range 816.00p-1,075.00p. The investment holding company provides a quarterly update on one of its two subsidiaries. Says Wilson Sons, a maritime services company operating in Brazil, sees year-to-date third-quarter net revenue climb to $356.4 million, which is 8.3% higher than the prior year. Profit rises 33% to $58.5 million. ‘Overall, the year-to-date performance demonstrates strong organic growth in the business. We remain positive on the fundamentals of trade flow-related businesses of towage and container terminals which, together with rebounding demand for offshore energy-linked services are driving growth and improved performance of these assets,’ the firm says. It adds its adviser, Banco BTG Pactual SA, has received a ‘number of indicative non-binding offers’ for the firm’s indirect investment in Ocean Wilsons Overseas Ltd and in Wilson Sons. Will evaluate all strategic options and update in due course.
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Tullow Oil PLC, up 4.4% at 34.98p, 12-month range 21.82p-48.92p. The oil and gas explorer and producer raises its annual free cash flow guidance to around $150 million from around $100 million, which it credits to increased sales volumes in Gabon and deferral of some capital expenditure. The stock had also risen on Tuesday, after securing a $400 million five-year notes facility agreement with Glencore Energy UK Ltd, part of Glencore PLC.
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SMALL-CAP - LOSERS
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Warehouse REIT PLC, down 1.2% at 85.6p, 12-month range 68p-119.6p. The London-based industrial warehouse investor reports interim results for the six months to September 30. Says gross property income edges down to £23.3 million from £24.1 million a year before, and swings to pretax profit of £22.0 million from a loss of £46.4 million. Net asset value per share rises to 126.4p at the end of September, from 124.4p at the end of March. Adjusted earnings per share - which the board deems the ‘more relevant indicator of core earnings’ drop 12% to 2.3p from 2.6p a year before. Jefferies cuts the stock’s target price to 112p from 124p previously, but maintains its ’buy’ rating.
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