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(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.
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SMALL-CAP - WINNERS
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ME Group International PLC, up 8.8% at 103.18 pence, 12-month range 55.70p - 119.50p. Upgrades its full-year outlook thanks to a first-half performance which came in ahead of expectations. The instant-service equipment firm notes a strong recovery across continental Europe and robust consumer demand for all its services. Revenue is now expected to be between GBP256 million and GBP262 million for the full-year year ended October 31, up from GBP257 million previously. Earnings before interest, taxation, depreciation, and amortisation is now expected between GBP82 million and GBP85 million, up from between GBP79 million and GBP84 million previously.
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Oxford BioMedica PLC, up 3.0% at 336.74 pence, 12-month range 276.62p - 1,526.00p. Completes the sale of its Windrush Court laboratory facility for GBP60 million, exceeding its target offer figure of GBP55 million. This, the biotechnology firm explains, strengthens its cash position to more than GBP150 million. In addition, the firm is granted an occupational leaseback of Windrush for 15 years at a rent of GBP3.5 million per year, rising to GBP4.7 million per year after five years.
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CT Private Equity Trust PLC, up 2.7% at 429.90 pence, 12-month range 375.51p - 520.00p. Sells a portion of its investment in the Italian funeral services of business of San Siro, part of funeral services firm HOFI Spa, and its related entities. At June 30, the firm's investment in San Siro was valued at EUR13.2 million. Firm sells its investment for GBP11.4 million, representing an uplift of GBP23.1 million, or 4.8% of the company June 30 net asset value. 25% of the total proceeds from the sale will be re-invested into a new investment in HOFI Spa, it adds.
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SMALL-CAP - LOSERS
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Ondo InsurTech PLC, down 3.3% at 7.25 pence, 12-month range 5.00p - 13.40p. In the six months ended August 31, widens its pretax loss to GBP2.1 million from GBP1.6 million the previous year. This comes as the firm books a GBP706,000 reverse acquisition expense in the period, and costs of sales rise to GBP511,000 from GBP475,000. Revenue, meanwhile, jumps to GBP1.0 million from GBP646,000 the year prior. Ondo says this revenue growth was driven by a growth in registered devices, which were up 43% against the prior year. "While today's economic situation is challenging, we are well placed to weather the storm... We are managing upward cost pressures on our hardware costs successfully, and although we have seen some cost increases, we have managed to pass these on to our customers," the firm adds.
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By Heather Rydings; heatherrydings@alliancenews.com
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