(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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Taylor Maritime Ltd, up 5.5% at USD0.79, 12-month range USD0.72-USD1.07. Sells eleven vessels for a total of USD172.5 million, in addition to the previously announced vessel sale in January for USD13.9 million. One sale has completed already, with the remaining ten sales expected to complete by the end of August. Divestments were accelerated "given our cautious view for 2025 amidst geopolitical and trade uncertainty", explains Chief Executive Officer Edward Buttery. Upon completion of the sales, bank debt is expected to be reduced to USD4.7 million, which will save around USD12.4 million in interest payments on an annualised basis. CEO Buttery also says he has agreed a 25% reduction in his salary as part of the company's "general overhead savings". Taylor Maritime says net asset value per share at March 31 was USD1.11, down 13% from USD1.28 on December 31, and it declares an interim dividend of 2.0 US cents per share.
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VietNam Holding Ltd, up 0.7% at 307.00p, 12-month range 258.00p-430.00p. The fund's investment manager, Dynam Capital Ltd, says Vietnam's equity markets have "recovered strongly" since US President Donald Trump announced his 90-pause on the highest trade tariffs he had announced at the start of April. These would have hit imports in the US from Vietnam with 46% tariffs, some of the most severe for any country. Shares now are trading at "attractive valuations not seen in two decades". VietNam Holding's net asset value is 390.1 pence per share on March 31, prior to Trump's 'liberation day' announcement on April 2. This leaves NAV down 2.7% on the month and 3.6% so far in 2025, compared to negative 0.4% and positive 1.4%, respectively, for the Vietnam all-share index.
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SMALL-CAP - LOSERS
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Record PLC, down 1.9% at 53.20p, 12-month range 46.10p-72.00p. Says assets under management at March 31 are USD100.9 billion, up 0.4% from USD100.5 billion at December 31, as positive changes in exchange rates were partially offset by "modest" outflows and underlying market movements. Performance fees totalling GBP300,000 are crystallised during the fourth quarter of the year ended March 31, bringing full-year performance fees to GBP3.2 million. Average fee rates for the quarter were broadly unchanged from the previous quarter. "Currency volatility has been especially high in the first weeks of April and we continue working closely with our clients to manage their hedging programs and ensure they remain well protected," says Chief Executive Officer Jan Witte. "Looking forward, I am confident that Record is very well positioned."
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By Emily Parsons, Alliance News reporter
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Record (REC)
Vietnam Holdings (VNH)
Taylor Maritim (TMI)
Taylor Maritim (TMIP)
