4th Jul 2025 10:32
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Friday.
----------
SMALL-CAP - WINNERS
----------
AFC Energy PLC, up 8.0% at 16.84 pence, 12-month range 5.00p-19.00p. The Cranleigh, England-based provider of hydrogen power generation technologies forms a new joint venture with Industrial Chemicals Group Ltd to produce hydrogen from ammonia. The venture will use AFC Energy's proprietary ammonia cracking technology, and aims to produce and sell hydrogen "at a price to disrupt the UK market, without reliance on government subsidies". Initial revenues are expected in early 2026, and the companies anticipate generating up to 400 kilograms per day of hydrogen. It expects this to be followed by incremental capacity through the sale of AFC Energy's Hy-5 portable, containerised ammonia crackers to the venture. These units are capable of generating up to 500 kilograms a day. "In anticipation of regular imports of green ammonia becoming widely available in the UK from 2027, the JV is well positioned to take advantage of the relative ease with which ammonia can be stored in low-cost and low pressure liquified gas tanks compared to high capital costs in storing hydrogen and further benefit from significant cost advantages versus UK production from electrolysis," says AFC Energy Chief Executive Officer John Wilson.
----------
TT Electronics PLC, up 1.8% at 114.40p, 12-month range 61.90p-172.00p. Royal Bank of Canada raises its price target for the Woking, England-based manufacturer of electronic components to 120p from 85p, with a 'sector perform' rating. TT Electronics on Monday reported revenue in the five months that ended May 31 is 5.5% lower on-year on an organic basis. This is driven by its "strong" performance in Europe, due largely to its Aerospace and Defence customers, being offset by headwinds in Asia and North America. The firm notes that recent US order deferrals in particular have impacted the Asia region, as a result of customer uncertainty around US tariffs. The company is closing its operations in Plano, Texas, following a detailed review. Looking ahead, the firm expects adjusted operating profit for 2025 to be in line a company-compiled consensus of GBP34.7 million. This would be down 6.5% from GBP37.1 million in 2024 and 26% lower than GBP47.1 million in 2023.
----------
SMALL-CAP - LOSERS
----------
MJ Gleeson PLC, down 6.3% at 363.56p, 12-month range 360.00p-654.00p. Expects pretax profit before exceptional items for the financial year to June 30, 2026 to be at or around GBP24.5 million, the lower end of current market expectations, and below Bloomberg consensus of GBP26.2 million. The company left expectations for financial 2025 unchanged, anticipating pretax profit before exceptional items within current market expectations which range from GBP21.0 million to GBP22.5 million. In the financial year to June 30, 2024, MJ Gleeson reported pretax profit before exceptional items of GBP24.8 million. Says the UK housing market "lacks confidence and remains subdued and the board does not see a short-term catalyst for any substantial improvement". Continuing capacity issues in the UK planning system have delayed site openings and Gleeson Homes will operate from fewer sites than anticipated in the current year, the firm continues. Gleeson Homes is expected to report an operating profit for financial 2025 within current market expectations of GBP21.7 million and GBP23.0 million. Gleeson Homes completed the sale of 1,793 homes in the financial year to June 30 compared to 1,772 homes a year prior. Gross margin at the division came under pressure through the financial year due to increased build costs and flat selling prices, along with the cost of mitigating actions including the continued use of incentives and several bulk sale transactions. Additionally, issues around process and compliance with procedures within the business, which were resulting in cost overruns, had been identified in the summer of 2024. MJ Gleeson says immediate actions did not fully address these and a comprehensive review of the business, was initiated in the autumn. As a result, Mark Knight has stepped down as chief executive of Gleeson Homes and left the business. The Northern division will continue to be run by Andy Davies. The Central division will be run by Scott Stothard, who is joining the business from Vistry Group PLC, where he was divisional chair. Simon Topliss, previously Gleeson Homes finance director, has been appointed to the newly created role of chief operating officer, with responsibility for central functions, driving performance and governance. In addition, Fiona Goldsmith, currently interim chair, has been appointed as chair with immediate effect.
----------
By Emily Parsons, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Tt ElectronicsMJGleesonAFC EnergyVistry Grp