SMALL-CAP WINNERS & LOSERS: PPHE rises on revenue more than doubling

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Friday.

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SMALL-CAP - WINNERS

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Capital & Regional PLC, up 3.3% at 60.40 pence, 12-month range 42p-67p. Shares rise after the property investment & development company said on Thursday that it will change its name to Shaftesbury Capital PLC following its all-share merger with Shaftesbury PLC. In June last year, the two companies agreed terms for an all-share merger to create a London-focused property investor with a combined portfolio value of GBP5.0 billion. Shaftesbury had said on Thursday the last day of dealings in Shaftesbury shares will be Friday. Following the scheme becoming effective, Shaftesbury shareholders will receive 3.356 Capco shares for each Shaftesbury share held.

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PPHE Hotel Group Ltd, up 7.1% at 1,241.99 pence, 12-month range 1,005p-1,617.25p. Shares continue ascent following Thursday's annual results. The real estate firm said revenue in 2022 amounted to GBP330.1 million, more than doubling from GBP141.4 million. The result topped market expectations, it added. It swung to a pretax profit of GBP8.3 million, from a GBP47.5 million loss. It reinstated its dividend last year, with a 3 pence per share interim payout. PPHE declared a 12p final dividend, taking its yearly total to 15p. Looking to 2023, it said "booking momentum" continued in the first two months of the year. It expects revenue growth in 2023.

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SMALL-CAP - LOSERS

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Schroder UK Public Private Trust PLC, down 5.2% at 13.22p, 12-month range 12.75p-29.25p. The London-based investment trust nears its all-time low of 12.75p seen in February. The stock is down 17% in the year-to-date.

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By Sophie Rose, Alliance News reporter

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