SMALL-CAP WINNERS & LOSERS: PZ Cussons ups outlook; S&U falls

Tue, 11th Feb 2025 10:45

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

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SMALL-CAP - WINNERS

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PZ Cussons PLC, up 8.7% at 86.28 pence, 12-month range 74.50p-118.20p. The maker of Carex raises its outlook for full-year operating profit. Manchester-based PZ Cussons, which also owns Imperial Leather and St Tropez, now expects full-year operating profit between GBP52 to GBP58 million, increased from GBP47 to GBP52 million before. The company said GBP5 million of costs related to foreign exchange losses on inter-company loans, would now be treated as an adjusting item. PZ Cussons reported a swing to profit in a first half that was "in line with expectations". The consumer goods firm said pretax profit amounted to GBP6.4 million in the half-year to November 30 swinging from a loss of GBP94.2 million a year prior. Its bottom line in the prior year took a hefty hit from Nigerian naira devaluation.

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Warehouse REIT PLC, up 2.0% at 81.93p, 12-month range 74.29p-92.80p. The warehouse investor hails "another positive quarter of leasing activity" for the three months to December 31, its third-quarter. "The company completed 25 transactions, securing GBP3.5 million of contracted rent and is continuing to successfully capture portfolio reversion, with transactions agreed on average 32.2% ahead of previous contracted rent," it says. In addition, it reports an amendment to an investment management pact. The deal with Tilstone Partners Ltd has been changed on the basis of its fee calculation. "The new arrangement will see the basis of the quarterly management fee move from net asset value to the lower of net asset value and market capitalisation, effective from 1 April 2025. The current fee thresholds and rates applied to the net asset value-based calculations will be unchanged," it adds. The highest threshold is a fee rate of 1.1% for the lower EPRA net assets and market capitalisation up to GBP500 million. For above GBP500 million, the fee rate is 0.9%.

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SMALL-CAP - LOSERS

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S&U PLC, down 3.7% at 1,569.75p, 12-month range 1,230.00p-2,064.00p. The motor and property financier says "headwinds" continue in its Advantage arm and this will reflected in profit for the second half to January 31. "But as a result of the improving trends mentioned above in advances and collection rates, we anticipate a recovery in profitability during the next financial year," S&U adds. The firm proposes a second interim dividend of 30p per share, down from 35p a year prior.

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By Eric Cunha, Alliance News news editor

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