(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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Seraphim Space Investment Trust PLC, up 28% at 33.53 pence, 12-month range 26p-84.9p. The SpaceTech fund appoints JPMorgan Securities PLC to act as broker on a share repurchase programme. Notes it has authority to repurchase up to 35.9 million shares, or 15% of its share capital, but will not fully utilise this authority. Says no maximum consideration payable has been decided, but it will not be able to buy shares back at a premium to its net asset value. Also notes several positive developments in its portfolio, citing "robust" investment activity. Says its portfolio is "well-capitalised" into the medium term, and it is confident its GBP35 million cash reserves will support its fundraise requirements in the next year to 18 months.
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Trustpilot Group PLC, up 18% at 80.45p, 12-month range 51.85p-129.4p. The online consumer reviews platform said it expects to report higher revenue and bookings in the first half of the year. In the six months that ended June 30, expects to report 15% rise in revenue to USD85 million from USD73 million a year before, or 18% in constant currency. For the whole year, reiterates guidance for mid-teens percentage revenue growth at constant currency. Expects first-half bookings to have risen 13% to USD98 million from USD87 million, or 16% at constant currency. Now expects annual like-for-like adjusted earnings before interest, tax, depreciation and amortisation at the top end of the range of market expectations, which it put at USD2.4 million to USD4.0 million. This would be a turnaround from negative USD4.4 million in 2022.
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SMALL-CAP - LOSERS
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Aptitude Software Group PLC, down 18% at 278p, 12-month range 269p-431.13p. The software provider says growth in annual recurring revenue has moderated as "higher levels of churn" seen last year persist into the first half of 2023. Additionally, says CEO Jeremy Suddards will step down, with its regional North American CEO Alex Curran to assume the role of acting CEO, effective immediately. The board will begin a formal search process for Suddards's replacement. For 2023 as a whole, firm is confident it will meet profit expectations, and expects "modest" growth in profit and revenue in the first half.
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By Elizabeth Winter, Alliance News senior markets reporter
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Trustpilot (TRST)
Seraphim Sp (SSIT)