13th May 2021 10:39
(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 6.8% at 352.00 pence, 12-month range 87.8p-371.00p. Hits this 12-month high earlier on Thursday. The LED lighting manufacturer says strong trading momentum continues into 2021 with robust demand in all major sales channels. Expects interim revenue of around GBP105 million and adjusted operating profit of GBP18 million. "We have been successful in protecting our margins from unprecedented industry-wide inflation and remain alert to further cost increases in a recovering global economy. Strong sales momentum and sustained profitability mean that we expect to double our profits for the first half against last year and retain this healthy combination as we enter the second half," says Chief Executive John Hornby.
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Kier Group PLC, up 6.4% at 108.98p, 12-month range 42.06p-112.28p. Hits this 12-month high earlier on Thursday. The infrastructure services and construction company plans to raise GBP241 million, with GBP120.6 million raised in a fully underwritten firm placing and the same amount through a placing and open offer. In addition, some director are expected to subscribe for GBP300,000. "The capital raise, which together with the recent sale of Kier Living Limited, will raise approximately GBP351.4 million of gross proceeds for the group. The proceeds will provide the group with the financial and operational flexibility to continue to deliver on its strategic objectives within its chosen markets and will allow it to further enhance and capitalise on its position as a strategic partner to its customers," Kier says.
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SMALL-CAP - LOSERS
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On the Beach Group PLC, down 9.5% at 390.94p, 12-month range 200.5p-517p. The online retailer of beach holidays falls after UK competition regulator warns package holiday companies to "respect the refund rights of holidaymakers" ahead of the summer period. The UK Competition & Markets Authority publishes open letter to the sector, and says Tui UK has given a formal commitment to provide clearer information on refunds upfront to customers whose holidays have been cancelled due to Covid-19. "We've secured millions in refunds for people who couldn't go on their hard-earned trips over the past year and now we're calling on package holiday companies to make the refund process less hassle in the future. We expect all firms to give clear cancellation options and will consider appropriate steps if we see companies breaking the law by refusing or delaying refunds this summer," says CMA Chief Executive Andrea Coscelli. FTSE 250-listed Tui falls 2.4% and AIM-listed Jet2 falls 6.0%.
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By Lucy Heming;Â [email protected]
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Related Shares:
KierOn The BeachTUI.LJet2