21st Oct 2021 11:11
(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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Luceco PLC, up 5.7% at 333.00 pence, 12-month range 215.5p-513p. Reports revenue growth of 15% year-on-year in the third quarter, and says this is 28% above pre-virus levels. Confirms full-year guidance for adjusted operating profit of not less than GBP39 million. This would be up from GBP30.0 million in 2020. "Luceco has grown stronger during Covid: growing revenue, increasing market share and expanding profitability against a backdrop of healthy RMI construction demand and a difficult supply chain for all participants," the LED lighting manufacturer and distributor says.
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Argo Blockchain PLC, up 3.0% at 136.01p, 12-month range 5.6p-325p. Stock has risen 13% so far this week amid a revival in bitcoin's fortunes. Bitcoin was trading above USD66,000 London mid-morning - having climbed steadily since the start of October, when it traded just below USD44,000. On Tuesday, a financial instrument dedicated to the unit, the Bitcoin Strategy ETF, made its debut on the New York Stock Exchange.
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SMALL-CAP - LOSERS
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Trifast PLC, down 2.7% at 124.54p, 12-month range 114.25p-170p. The industrial fastenings firm expects to report 30% year-on-year growth in interim revenue and says underlying demand has been strong in all key markets. Notes that supply chain pressures have remained challenging, creating pent up demand in the market and reducing sales growth rates in the short-term. "In response to ongoing inflationary pressures, the group has implemented a co-ordinated price increase programme. As a result of this we expect to exit the financial year at more normalised gross margins, as inflationary increases are passed on to customers. However, as already highlighted increased costs have placed temporary pressure on margin recovery in the first half," Trifast says.
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By Lucy Heming;Â [email protected]
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