(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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Palace Capital PLC, up 3.0% at 244.00 pence, 12-month range 195.00p-295.00p. The regional property investor swings a pretax loss in the year ended March 31. Its pretax loss totals GBP35.8 million, swinging from a profit of GBP24.6 million the year prior. Says this was primarily due to a portfolio revaluation deficit of GBP42.9 million. Net rental income edges up 2.6% to GBP15.6 million from GBP15.2 million. EPRA net tangible asset per share falls 24% to 296p at March 31 from 390p at the same time a year prior. Total property return in the year is negative 11.6% compared to positive 12.5% the year prior. Notes this outperforms its benchmark, the MSCI UK Quarterly Property Index, which returns negative 12.6% over the same period.
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Fuller, Smith & Turner PLC, up 2.7% at 564.67 pence, 12-month range 410.31p-660.0p. The UK pub and hotel chain reports a 10% decline in annual profit but a 33% jump in revenue as its business improves from the impact of Covid-related resections on trade. Pretax profit totals GBP10.3 million, down from GBP11.5 million the year prior, while revenue climbs to GBP336.6 million from GBP253.8 million. Looking forward, Chief Executive Simon Emeny says he is "more optimistic about the future" than he has been since before the pandemic. "While the well-documented inflationary environment has been a challenge, there are positive signs on the horizon. In addition, we are ever hopeful of a resolution to the ongoing train strikes to allow us to further benefit from the increasing numbers of office workers and international tourists returning to the Capital," he says.
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SMALL-CAP - LOSERS
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Biotech Growth Trust PLC, down 0.6% at 874.58 pence, 12-month range 745.40p-1,048.00p. The biotechnology-focused investor says the 12 months ended March 31 have been "another difficult year", with the "challenging" economic conditions of the previous year carrying over and leading to "disappointing absolute and relative performance." Reports a net asset value per share of 852.6p at March 31, down sharply from 957.8p at the same time a year prior. Total NAV return for the year is negative 11.0%, compared to negative 33.8% last year. This compares to a positive NAV return of 5.4% for the company's sterling-adjusted benchmark, the Nasdaq Biotechnology Index.
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By Heather Rydings, Alliance News senior economics reporter
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Palace Capital (PCA)
Fuller Smith & Turner (FSTA)
Biotech Gwth (BIOG)