10th Jun 2021 11:15
(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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Kavango Resources PLC, up 16% at 5.13p, 12-month 1p-5.15p. The exploration company says drilling will commence on two "proof of concept" geological holes in the northern section of the Kalahari Suture Zone this month. Aims to become first company ever to retrieve drill core from the bottom of the "keels" of the Karoo-age gabbros in the KSZ. "The company anticipates that drill-core from these holes will provide firm physical evidence of the KSZ's potential to host 'Norilsk-style' metal sulphide deposits," it says.
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DFS Furniture PLC, up 13% at 307.50 pence, 12-month range 140.2p-318.5p. The sofa retailer says total order intake in fourth quarter to date up 92% on the same period in the 2019 financial year, driven by pent-up demand as showrooms opened post-lockdown. Showrooms reopened early in the fourth quarter, it says. Says on course to achieve underlying pretax profit of at least GBP105 million in 2021 financial year, and revenue and profit from recent strong order intake to be recognised in 2022 financial year. Pretax profit scenarios range from GBP66 million to GBP96 million for 2022 year, materially ahead of consensus. Expects to recommend final dividend of 7.5p in September 2021. "Despite short-term supply chain challenges and a macro environment that's hard to read, we believe the business is well set for growth, to be delivered in both a responsible and sustainable manner," says Chief Executive Tim Stacey.
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SMALL-CAP - LOSERS
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Card Factory PLC, down 2.5% at 65.10p, 12-month range 30.1p-97.83p. The greeting cards retailer swings to annual loss amid heavy fall in revenue in a year where stores were closed for an average of five months due to the pandemic. Posts revenue of GBP285.1 million for year ended January 31, plummeting 37% from GBP451.5 million the prior year after lockdown-induced store closures decimated sales. Turns to pretax loss of GBP16.4 million, from a GBP65.2 million profit the year before. Reports "solid" performance post lockdown easing, though notes: "The strong initial pent up demand has steadied and our performance since reopening has been in line with expectations. Our Everyday Card and party ranges have performed strongly, and although footfall remains reduced we are seeing evidence of customers shopping more evenly during the week and spending more per visit."
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By Lucy Heming;Â [email protected]
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Related Shares:
Dfs FurnCard FactoryKavango Resources