14th Jul 2021 11:10
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.
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SMALL-CAP - WINNERS
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Provident Financial, up 3.0% at 248.60 pence, 12-month range 154.90p-330.40p. The Financial Conduct Authority criticises Provident Financial's scheme of arrangement to resolve customer complaints, although it will not appear in court to oppose it. Subprime lender Provident has offered to pay GBP50 million in compensation to customers under the scheme, after it sold loans without carrying out affordability checks. The loans were sold by Provident's consumer credit division, under brands including Satsuma Loans, Glo and Greenwood. Customers are voting on whether to approve the scheme before a court hearing on July 30.
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SIG, up 2.2% at 48.96p, 12-month range 21.50p-60p. Reports growth in revenue for the first half of 2021 and noted a "faster" return to profitability than expected. Revenue in the six months to 30 June 2021 was GBP1.11 billion, up 33% on a like-for-like basis from a year earlier, a period hit by Covid-19. Compared to two years earlier, so before the onset of the pandemic, like-for-like sales were 1% higher. Reports underlying operating profit of GBP13.5 million, which is better than previous expectations, and swinging from a GBP43.2 million loss a year earlier.
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McBride, up 1.8% at 90.6p, 12-month range 57.04p-97.80p. Continues to experience uneven levels of demand but says it expects adjusted operating profit and adjusted pretax profit for the year to June 30 to be in line with current market expectations. It expects to report revenue at constant currency down 4.0% versus the previous year. The cleaning and household products company says weaker run-rates, coupled with short-term consumer stockpiling in the comparative period in the early stage of lockdown in 2020, have resulted in lower second half revenue. McBride says the raw material environment also remains challenging, both in terms of supply availability and exceptional price increases.
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SMALL-CAP - LOSERS
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Pharos Energy, down 2.1% at 25.64p, 12-month range 10.44p-28.65p. Reports a drop in production over the first half of 2021 as the oil company's operations in Egypt drag due to well maintenance issues, though it remains upbeat looking ahead. The oil & gas exploration and production firm says group working interest in the first half 2021 comes in at 9,147 barrels of oil equivalent per day net. This is down 32% from 12,093 boepd last year and a touch lower than the firm's annual guidance, which remains unchanged, at between 9,200 boepd and 10,600 boepd.
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By Evelina Grecenko; [email protected]
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Related Shares:
SIGPFG.LMcbridePharos Energy