7th Oct 2021 10:59
(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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Motorpoint Group PLC, up 7.7% at 382.90 pence, 12-month range 249.25p-401p. The vehicle retailer says revenue for six months to September 30 up 57% year-on-year following strong demand for used vehicles. Margins remained strong, with gross profit rising 58% on a year ago. "Trading continues to be in line with the board's expectations for the full year and the group is well placed to deal with these uncertain potential headwinds and invest further in growth. The board looks to the future with confidence, as the group transitions to a digitally led business with huge potential," it says.
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Pendragon PLC, up 6.6% at 18.65p, 12-month range 8.55p-21.34p. The fellow automotive retailer also gains, lifting its guidance on strong margins. It now expects underlying pretax profit for 2021 to be around GBP70.0 million, up from a prior guidance range of GBP55.0 million to GBP60.0 million previously. While supply issues have resulted in a reduction in the number of new vehicle deliveries achieved, margins have remained strong and helped to mitigate the volume shortfall. It also notes "unprecedented tailwinds" in used car margins.
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SMALL-CAP - LOSERS
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City of London Investment Group PLC, down 5.1% at 515.53p, 12-month range 381p-579.9p. Stock goes ex-dividend on Thursday, meaning new buyers no longer qualify for the latest payout. Alfa Financial Software Holdings and AG Barr also go ex-dividend, falling 3.4% and 2.8% respectively.
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By Lucy Heming;Â lucyheming@alliancenews.com
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Related Shares:
MotorpointCity Lon InvPDG.LBarr (A.G.)Alfa Fin