22nd May 2025 12:26
(Correcting Petra Diamonds Ltd's third quarter results.)
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Thursday.
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SMALL-CAP - WINNERS
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Zotefoams PLC, up 7.2% at 293.66 pence, 12-month range 222.00p-595.20p. The provider of foams, insulation, seals and interior trims for the automotive sector says trading in the four months that ended April 30 was "strong", keeping up momentum seen in 2024. Sales in the period rose 8%. "The board continues to expect the group to deliver overall growth in 2025, supported by the strong performance in the period, a growing order book and with good opportunities across all geographies," Zotefoams says. "While recent US-led tariff announcements may result in some market disruption and associated incremental costs, this presents a manageable headwind rather than a fundamental shift in our market opportunity. The adoption rate of supercritical foams in athletic footwear, currently at 4-6% of the total market, continues to present significant growth potential despite these developments."
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Avon Technologies PLC, up 2.4% at 1,686.00p, 12-month range 1,152.69p-1,762.00p. Shares extend gains after a 5.2% advance on Wednesday. The respiratory protection equipment maker, serving military customers, reported improved earnings for the half year to March 31 on Wednesday. Avon expects to deliver double-digit revenue growth in financial 2025.
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SMALL-CAP - LOSERS
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Petra Diamonds Ltd, down 5.1% at 20.60p, 12-month range 19.23p-45.00p. The South Africa and Tanzania-focused diamond miner reports weaker revenue in its third quarter ended March 31. Revenue declines 13% on-year to USD41.6 million from USD47.7 million. On-quarter, revenue is down 61% from USD105.9 million. A total of 558,651 carats are sold in the quarter just ended, up from 386,444 a year prior, but down on-quarter from 1.1 million. "Alongside the broader diamond sector, Petra has been navigating a very difficult diamond market. Despite this, Petra has shown considerable resilience by delivering on its production and cost targets, while undergoing unprecedented changes in the business, including the regrettable loss of jobs. We fully appreciate all the sacrifices, commitment, and hard work of our employees," say Vivek Gadodia and Juan Kemp, joint chief executive officers.
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Headlam Group PLC, down 2.3% at 91.80p, 12-month range 76.20p-167.50p. The floorcoverings distributor says revenue in the four months to April falls 4.7% on-year. It notes a sequential improvement through the period, however. The revenue decline narrows to 1.4% in April, from 6.6% in January. Headlam says: There are some encouraging signs of the market conditions improving, and we are also seeing early signs of the benefits of the changes we have been making to our sales organisation. In the residential side of the business we have relaunched our Lifestyle brand, including a major rollout of display stands alongside incentives, to support our independent retailer customers. In the commercial market, we have won a number of contracts and projects, which will add to revenue over the coming months. However, as the market is taking longer than expected to improve, we are accelerating and increasing the scale of the transformation plan to grow revenue and reduce costs."
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Sabre Insurance Group PLC, down 2.4% at 132.40p, 12-month range 118.60p-173.60p. The motor insurance underwriter reports a decline in gross written premiums over the first four months of 2025, amid a "relatively weak pricing environment". Gross written premiums fall 23% to GBP66.1 million in the four months to April 30, from GBP85.7 million a year prior. "I am pleased that Sabre remains on track to deliver target margins and strong profit for the year, despite the relatively weak pricing environment that we have seen in 2025 to date," CEO Geoff Carter says.
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By Eric Cunha, Alliance News news editor
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Related Shares:
ZotefoamsPetra DiamondsHeadlamSabre InsurAvon Protection