(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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Pendragon PLC, up 5.8% at 18.19 pence, 12-month range 7p-21.34p. Rises in positive read-across from AIM-listed Marshall Motor, which is up 7.5% after the car dealer says it now expects underlying pretax profit for 2021 of at least GBP40.0 million. Pendragon reported profit by the same measure of GBP8.2 million in 2020. At a statutory level, Pendragon lost GBP29.6 million before tax in 2020.
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SMALL-CAP - LOSERS
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Drum Income Plus REIT PLC, down 11% at 53.00p, 12-month range 15p-67p. Falls after saying it is in talks over a possible all-share takeover offer by Custodian REIT PLC. Deal would see ratio of 0.535 of a Custodian share for each Drum Income share, giving an implied value for Drum Income of GBP21.6 million. Says can be no certainty any firm offer will be made. "The board of DRIP has confirmed to Custodian that the possible offer is at a value the board of DRIP would be minded to recommend," it says. Custodian shares are down 1.2%.
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LSL Property Services PLC, down 3.2% at 420.00p, 12-month range 187.13p-512p. The estate agency reports 45% growth in half-year revenue to GBP166.5 million, while pretax profit shoots up to GBP25.5 million from GBP2.0 million, but says housing market transactions in 2022 are expected to be below 2021. "Growth in profits in 2022 will therefore need to come from further underlying performance improvement. The trajectory in Financial Services and the opportunities we have identified in Surveying and Valuation Services will continue to offer opportunities for growth in 2022 and beyond and we remain confident that our plans remain on track," it says.
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By Lucy Heming;Â lucyheming@alliancenews.com
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