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(Alliance News) - 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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XP Power Ltd, up 3.3% at 1,424.00 pence, 12-month range 682.40p-2,750.00p. Shares in the Singaporean designer and manufacturer of power controllers rise. Stock broker Jefferies raises its rating to 'buy' from 'hold'.
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Smiths News PLC, up 3.2% at 48.61p, 12-month range 40.00p-56.00p. The newspaper and magazine distributor says trade in the year ending August 31 remains in line with market expectations. Smiths says it has secured contract renewals across 74% of our current publisher revenue streams to at least 2029, underpinning revenues in the medium-term, alongside continuing to secure additional national and regional contract awards. "I am pleased to confirm that 2024 has started positively, and the Group remains on track to deliver financial results in line with market expectations for the year. Whilst we are cognisant of the ongoing financial pressure on consumers and the broader macro-economic outlook, our focus remains on securing and maximising revenue opportunities in our core newspaper and magazine distribution business, whilst exploring growth initiatives in adjacent areas that leverage on our existing capabilities and market presence," says Chief Executive Jonathan Bunting.
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SMALL-CAP - LOSERS
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Alfa Financial Software Holdings PLC, down 1.4% at 174.50p, 12-month range 118.00p-203.00p. Shares in Alfa fall despite saying it expects higher profits in 2023 than previously anticipated. The software developer expects to report about GBP1 million more in profit. Overall revenue growth for the year was in line with expectations, up 9% on-year. The company noted that it has recently completed 11 deliveries, taking the total to a record 35 for the year. CEO Andrew Denton said: "I am delighted that in 2023 we have continued to drive the business forwards with strong revenue growth, a record number of deliveries and an exciting product roadmap. Our pipeline remains strong and we have seen strong growth in subscription total contract value driving overall TCV growth. The board remains confident in the future prospects for the business."
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By Sophie Rose, Alliance News senior reporter
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