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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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Photo-Me International, up 2.7% at 73.50 pence, 12-month range 41.65p-79.60p. The photo-booths operator reports a better than initially expected start to the current financial year, with a "promising" return to pre-Covid business conditions. Revenue for the six months to April 30 was up 3.4% to GBP94.6 million, resulting mostly from reduced restrictions on the movement of people and customers compared with a year ago. Photo-Me swings to a pretax profit of GBP12.0 million from the GBP24.2 million loss posted in the first half of financial 2020. Photo-Me declares no payout for the half-year, unchanged year-on-year.
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Regional REIT Ltd, up 1.9% at 92.20p, 12-month range 58.30p-93p. The real estate investment trust completes the sale of Arena Point, located in Leeds, England, for GBP10.7 million, representing an uplift of 16% against the end of 2020 valuation. The company notes that the purchaser intends to demolish the 19-storey office block to make way for a 43-storey tower, providing accommodation for 705 students. The proceeds from disposal will be used for growing pipeline of higher yielding office opportunities to diversify further the portfolio by geography and income streams.
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SMALL-CAP - LOSERS
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Xaar, down 1.0% at 183.60p, 12-month range 54.20p-230p. The inkjet printing technology firm completes the acquisition of FFEI, a UK-based manufacturer of industrial digital inkjet systems. The deal will accelerate Xaar's existing growth strategy and will enable Xaar to capture additional opportunities in vertically integrated solutions. The initial cash consideration of GBP3.7 million was paid on completion, reflecting existing FFEI free cash reserves, with an additional GBP5.4 million deferred consideration to be paid out over three years.
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By Evelina Grecenko; evelinagrecenko@alliancenews.com
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