(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.
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SMALL-CAP - WINNERS
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Speedy Hire PLC, up 2.9% at 29.42 pence, 12-month range 22.50p-38.95p. The tool and equipment hire firm reports an annual revenue decline but a profit rise, and says the new year has "started well". Revenue in the financial year that ended March 31 falls 4.3% to GBP421.5 million from GBP440.6 million. Pretax profit jumps to GBP5.1 million from GBP1.8 million. Speedy Hire maintains its dividend at 2.60p per share. "The new financial year has started well and is marginally ahead of last year," it says. It expects a full-year performance in line with board expectations. It believes "operational efficiencies and supply chain optimisation" will boost its annual outturn.
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XP Power Ltd, up 2.0%, at 1,430.00p, 12-month range 682.40p-2,489.20p. Shares in the power controllers maker recover some ground following a 10% slide on Tuesday, when suitor Advanced Energy Industries Inc said it no longer plans to make an offer for XP Power. AEI is a maker of precision power conversion, measurement, and control solutions. In May, it said it had made three all-cash takeover approaches for XP Power, each slightly higher than the last. The first offer in October valued XP Power's equity at GBP339 million, a second roughly two weeks later in November at GBP369 million and the most recent, in May, at GBP468 million. Including debt, the latest proposal had a total value of GBP571 million.
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SMALL-CAP - LOSERS
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Bloomsbury Publishing PLC, down 1.6% at 608.00p, 12-month range 365.00p-634.00p. Shares in the London-based publisher return some recent gains. The stock had risen in each of the three days prior, adding 4.0%.
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By Eric Cunha, Alliance News news editor
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Speedy Hire (SDY)
Bloomsbury (BMY)
Xp Power (XPP)
