(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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Synthomer PLC, up 30% at 187.19 pence, 12-month range 122.5p-1,024.64p. The chemicals manufacturer presents an optimistic outlook, easing some share price pressure on the stock. Synthomer shares are down more than 80% over the past 12 months, having conducted a 6-for-1 rights issue in September, accompanied by a 20-into-1 share consolidation. It says trading since the start of 2024 has been "cautiously encouraging", helped by "short-term restocking by customers". It does caution, however, that "evidence of broad-based demand recovery remains limited". Synthomer says revenue falls 15% to GBP1.97 billion in 2023 from GBP2.33 billion in 2022, due to a reduction in volume and the pass through of lower raw material input prices. Pretax loss triples to GBP106.8 million from GBP34.2 million.
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Funding Circle Holdings PLC, up 2.1% at 47.10 pence, 12-month range 25.00p-60.80p. Shares in the business finance platform rise again, leaving it set to extend a winning streak to five days. It had surged 55% on Thursday after announcing a GBP25 million share buyback plan.
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SMALL-CAP - LOSERS
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Regional REIT Ltd, down 34% at 13.21p, 12-month range 12.75p-60.00p. The commercial property investor confirms it is mulling "a range of refinancing options" in respect to an existing GBP50 million retail bond that matures in August. Options include a debt or equity raise. Regional REIT, in a statement ahead of the market open, says any equity issue would likely be "at a material discount" to its share price. The stock had closed at 20.15p on Monday.
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By Eric Cunha, Alliance News news editor
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Synthomer (SYNT)
Funding Circle (FCH)
Regional Reit (RGL)