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The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday. ---------- SMALL-CAP - WINNERS ---------- Henry Boot PLC, up 0.9% at 231 pence, 12-month range 196p-240p. The Sheffield, England-based property development firm’s land promotion and planning business Hallam Land has secured outline planning permission for 1,270 homes, ‘of which 30% are affordable’, in Tamworth, Staffordshire. Henry Boot says Hallam has been marketing the site with the landowner’s agents, ‘and is now in advanced contract negotiations for sale to a major housebuilder’. Also, Hallam has been granted planning consent on appeal for 1,200 plots, 40% of which are affordable, in Fareham, Hampshire. It originally submitted a planning application in 2020 but appealed ‘based on non-determination’ after Fareham Borough Council ‘failed to make a timely decision’. ‘The appeal was subsequently recovered by the Secretary of State in October 2024 and consent was granted in July,’ Henry Boot says. Adds: ‘Hallam Land will commence marketing the site for sale this month and expects strong interest in the opportunity.’ ‘The approvals also signal renewed momentum in the planning system following the government’s reaffirmed commitment to removing planning barriers and tackling the nationwide housing shortage,’ comments Henry Boot Chief Executive Officer Tim Roberts. ‘It is a strong indicator that well-considered schemes in the right locations will be approved, and we expect strong buyer interest as we bring them to market, enabling us to unlock the value we have secured on behalf of our shareholders.’ ---------- SMALL-CAP - LOSERS ---------- Costain Group PLC, down 16% at 137.6p, 12-month range 86p-170p. The Maidenhead, England-based construction and engineering company’s pretax profit rose 7.1% to £18.2 million in the six months to June 30, from £17.0 million the year before. Adjusted operating profit grew 3.0% to £16.8 million from £16.3 million, with an operating profit margin of 3.2% compared to 2.5%, which Chief Executive Alex Vaughan says ‘reflects the improving quality of our contract portfolio’. However, revenue has fallen 18% to £525.4 million from £639.3 million. Growth in Natural Resources was offset by a reduction in Transportation from expected road project completions and a new schedule for UK high-speed rail project HS2, Costain says. Company more than doubles its interim dividend to 1.0p per share from 0.4p. Vaughan says Costain continues to win new work and add new customers, with 90% of its forecast revenue for 2025 already secured. He comments: ‘Whilst we remain mindful of the near term macro-economic and geopolitical environment and the potential consequences of government spend phasing decisions, the improvements in market outlook and the group’s positioning and resilience underpin our confidence in delivering on our expectations for further progress in FY25 and FY26, with a step change in performance expected in FY27 and beyond.’ ---------- Kenmare Resources PLC, down 3.9% at 316.25p, 12-month range 275p-436p. The Mozambique-focused titanium minerals and zircon producer has cut its first-half dividend to 10 US cents per share from 15 cents the previous year. Reports a $88.6 million pretax loss for the half year, against the prior year’s $27.7 million profit. Mineral product revenue increases 3% to $159.6 million from $154.5 million, ‘due to stronger shipments and increased average price received’. Group revenue increases 2% to $167.7 million from $165.1 million. Loss before interest, tax, depreciation and amortisation is $53.1 million, against Ebitda of $63.2 million. Total operating costs increase 14% to $150.5 million from $132.3 million. Also, Kenmare incurred a one-off $100.3 million impairment loss for the period, ‘primarily due to lower projected future revenue assumptions associated with an uncertain pricing outlook’. Company expects stronger sales volumes in the second half, ‘due to seasonally better weather and the return of the Peg transshipment vessel, increasing shipping capacity’. Managing Director Tom Hickey comments: ‘[Kenmare] has been in negotiations with the government of Mozambique for almost three years regarding the renewal of [the Moma mine’s] implementation agreement and we are concerned at the continued extension of this process...we reserve the right to safeguard Kenmare’s contractual entitlements, up to and including arbitration, if an agreement cannot be reached.’ ---------- Copyright 2025 Alliance News Ltd. All Rights Reserved.
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