(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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Aptitude Software Group PLC, up 3.5% at 299.00 pence, 12-month range 245.00p-390.00p. Wins a new contract worth around USD1.0 million for its finance data management and accounting platform Fynapse, spanning a five-year duration. Strikes the deal with an unnamed "global leader" in mobile parking payments. "It is exciting to be supporting a high growth technology organisation and underpinning their [artificial intelligence] strategy. As our reach and sales ability is further complemented by our partner focused strategy, we expect to add more clients of this type and further demonstrate the benefits Fynapse is quickly able to bring clients. With momentum in our Fynapse pipeline continuing to build across our target markets and with shortened sales cycles due to its straightforward implementation, we are confident in our ability to reach our ARR growth ambitions," says Chief Executive Officer Alex Curran.
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SMALL-CAP - LOSERS
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Baillie Gifford Shin Nippon PLC, down 3.1% at 105.02p, 12-month range 101.55p-121.40p. Says its net asset value per share for the year that ended January 31 declines 5.1% and its share price return falls 5.0%, against an 8.9% rise on its benchmark, the MSCI Japan Small Cap Index. Make a pretax net loss of GBP29.7 million, widened from GBP81.0 million the year before, and recommends a final dividend of 0.60 pence per share, down 25% on-year from 0.80p. "Looking ahead, a combination of investment decisions and operational changes by underlying companies have improved the profitability and cash flow of the portfolio," says Chair Jamie Skinner. "Furthermore, not only is the portfolio more mature from a cash flow perspective, but it also contains a large number of companies trading at a discount to their historic median valuation levels. The portfolio now has a lower weight than the benchmark in unprofitable companies and shows signs of stronger operational performance. The board and the manager believe that the portfolio is in a much stronger position for the next three years than it was at the end of 2021."
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European Assets Trust PLC, down 2.9% at 78.83p, 12-month range 78.30p-92.20p. Net asset value total return for 2024 is negative 0.8%, against a positive 8.2% return the year before and a 2.4% gain on its benchmark, the MSCI Europe excluding UK Small Mid Cap (Net Return) Index. NAV per share is down 6.6% on-year to 91.82 pence from 98.31 pence, while the share price discount to NAV widens to negative 12.0% from negative 8.8%. Pretax profit for the year declines 60% to GBP14.1 million from GBP35.6 million, as fair value gains on investments fall to GBP9.5 million from GBP32.2 million. "In terms of the outlook for European corporate performance, consensus expectations are for high single digit European earnings growth, which is only marginally less than the expectations for US average earnings growth. The manager expects smaller companies' earnings in Europe to match what is expected in large cap. The market has begun to look forward to the attractive combination of lower inflation leading to Central Bank easing, resilient economic growth, and good corporate profitability," says Chair Stuart Paterson.
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By Emily Parsons, Alliance News reporter
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European Assets Trust (EAT)
Baillie Gifford Shin Nippon PLC (BGS)
