Kier Share News (KIE)

(Alliance News) - 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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Kier Group PLC, up 6.7% at 92.8 pence, 12-month range 56p-93p. The infrastructure services, construction and property says it intends to resume dividends payments in financial 2024, beginning with an interim dividend. Pretax profit in the year ended June 30 leaps to GBP51.9 million from GBP15.9 million. Revenue rises 7.5% to GBP3.38 billion from GBP3.14 billion. Boasts strong order book and improved year-end cash position, with "confidence in sustaining this momentum going forward". New financial year starts well, with trading coming in line with expectations, it adds. "The group is well positioned to continue benefiting from UK Government infrastructure spending commitments and we are confident in sustaining the strong cash generation evidenced this year," says Chief Executive Andrew Davies.

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Metro Bank Holdings PLC, up 3.3% at 82.6p, 12-month range 67.7p-157.8p. The retail bank claws back some lost ground after a steep fall on Wednesday. Its share had plunged 18% after it admitted it won't get approval this year from Bank of England's Prudential Regulation Authority for a reduction in its capital requirement for residential mortgages. Metro said that in its latest discussions with the UK financial regulator, the PRA indicated more work is required from the company, meaning approval won't be granted during 2023, if ever.

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SMALL-CAP - LOSERS

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Regional REIT Ltd, down 3.4% at 36.06p, 12-month range 34.5p-71.30p. The commercial property sector investor extends recent losses, falling 19% over the past week. On Tuesday, it released its interim results, revealing a swing to a pretax loss of GBP12.1 million in the first half of 2023, from a profit of GBP28.3 million a year ago. On the back of this, Regional REIT lowered its interim dividend to 2.85p per share from 3.30p per share year-on-year. "It has been another challenging period for the commercial real estate sector as rapidly rising interest rates continued to impact valuations," said Stephen Inglis, chief executive of London & Scottish Property Investment Management, the asset manager of Regional REIT.

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By Elizabeth Winter, Alliance News senior markets reporter

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