|
The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday. ---------- SMALL-CAP - WINNERS ---------- Marston’s PLC, up 8.6% at 42.075 pence, 12-month range 33.3p-45.5p. The Wolverhampton, England-based pub chain operator says market consensus for its underlying pretax profit in the 52-weeks that ended September 27 is £67.2 million. This would be up 60% from £42.1 million in financial 2024. Marston’s, which will release its full financial 2025 results on November 25, says its profitability was ‘underpinned by sustained margin expansion through our market-leading pub operating model, including revenue management, labour efficiency and procurement initiatives’. Reports that like for like sales rose 1.6%, and says its growth continues to outpace the market. Also expects recurring free cash flow to exceed, ahead of schedule, the £50 million target set at its capital markets day in October last year. Also delivering on that guidance, Marston’s expects underlying earnings before interest, tax, depreciation and amortisation margins to increase on-year by over 100 basis points, representing a ‘step-change in profitability’. Says leverage has been reduced as a result, with year-end net debt below a five-times multiple of Ebitda. ‘We have delivered another year of strong profit growth and significantly improved recurring free cash flow, providing us with continued opportunity to invest in our estate, reduce debt and unlock long-term value for shareholders,’ comments Chief Executive Justin Platt. ‘Our market-leading pub operating model has been central to delivering strong margin uplifts...Our differentiated pub-formats are already delivering impressive results with a defined plan to accelerate this further in FY2026. With clear strategic priorities and disciplined execution, we enter the new year with strong momentum. Our results demonstrate we are delivering as a high-margin hospitality business, and with our formats growth engine showing great promise, we are poised to drive further financial and strategic progress.’ ---------- Riverstone Energy Ltd, up 4.0% at 942p, 12-month range 680p-942p. The London-based energy infrastructure and energy transition credit investor, which is undergoing a managed wind-down started in August, will return approximately £190 million to shareholders through a compulsory partial redemption of up to 17.3 million shares. As of Wednesday it has 24.6 million shares in issue with none held in treasury. Says approximately 70% of its issued share capital will be redeemed at £11.01 per share, Riverstone’s net asset value per share as of June 30. Funds for the redemption will come from its existing cash balances. ---------- SMALL-CAP - LOSERS ---------- Liontrust Asset Management PLC, down 3.1% at 315.5p, 12-month range 298p-528p. RBC cuts the London-based fund manager’s price target to 270p from 310p, maintaining an ’underperform’ rating. Follows Liontrust’s report on Tuesday that assets under management and advice in its second quarter ended September 30 fell 2.7% to £22.01 billion from £22.62 billion at the start of July. The figure has since edged up to £22.2 billion as of Friday. Company also reported net outflows of £1.2 billion, accelerating from £1.1 billion a year prior. CEO John Ions said Liontrust was ‘having success among institutional investors and wealth managers, notably internationally’ but progress, in moves like new mandates and being added to clients’ buy lists, ‘has been slower than as we had hoped’. ---------- Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
