(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.
----------
SMALL-CAP - WINNERS
----------
Great Southern Copper PLC, up 19% at 1.54 pence, 12-month range 1.05p-5.02p. The Chile-focused explorer hails "high-grade" copper and gold assay results from its Victoria prospect. It also outlines "drill-ready targets" at Teresita.
----------
Bank of Cyprus Holdings PLC, up 2.9% at 215.00 pence, 12-month range 68.20p-217.00p. The lender says the foundations for "meaningful dividend distributions" have been laid. Revenue in 2022 rises 20% to EUR904.2 million from EUR754.6 million in 2021. Pretax profit jumps to EUR109.8 million from EUR36.1 million. Bank of Cyprus says its recurring return on tangible equity beat guidance, rising to 11.3% in 2022 from 5.5% in 2021. It had been expected to land at 10%. Bank of Cyprus lifted its ROTE guidance for 2023 to "over 13%", from "over 10%" previously. The company says the outcome paves the way for "meaningful" payouts. It hasn't paid a dividend since listing in London in early 2017. Shares hit a one-year high.
----------
SMALL-CAP - LOSERS
----------
Trifast PLC, down 45% at 50.32p, 12-month range 46.70p-144.50p. The industrial fastenings firm says tough economic conditions have meant it has suffered "some volatility in demand patterns". It has been hurt by a "significant destocking" from an Asian manufacturer, offsetting efforts to boost its operating margin. It now expects revenue of GBP243 million and adjusted pretax profit of GBP9.0 million for the year ending March 31. Both outcomes will be below market expectations. In addition, it says Mark Belton has stepped down as chief executive with immediate effect. Scott Mac Meekin becomes interim CEO, relinquishing his non-executive director responsibilities.
----------
By Eric Cunha, Alliance News news editor
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Trifast (TRI)
Great Sth Copp (GSCU)
Bk. Cyprus Hldg (BOCH)