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SMALL-CAP WINNERS & LOSERS: Card Factory falls despite Christmas boost

16th Jan 2024 09:25

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Tuesday.

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SMALL-CAP - WINNERS

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Gulf Marine Services PLC, up 14% at 14.11 pence, 12-month range 4.19p-15.44p. The provider of self-propelled and self-elevating support vessels, to customers in the oil, gas, and renewables sectors, sees its share price jump. So far in 2024, the shares have not performed well, falling 7.1%. In the last 12 months, however, the stock has more than tripled from 4.66p.

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SMALL-CAP - LOSERS

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Card Factory PLC, down 5.7% at 101.66p, 12-month range 79.60p-119.80p. Shares in the greeting cards and gifting firm fall, despite a positive trading update. It reports that in the 11 months to December 31, it booked sales of GBP476.9 million, up 10% from GBP432.6 million a year earlier. The retailer notes a strong Christmas trading performance, with like-for-like store revenue growing 7.8% in November and December. "This was driven by the increased number of transactions and increased average basket value; targeted price increases enacted in the prior year had fully annualised before the Christmas period," Card Factory says. Looking ahead, the current range of market expectations for financial 2024 adjusted pretax profit is GBP58.4 million to GBP62.0 million. For financial 2023 ended January 31, the company had reported a pretax profit of GBP52.4 million.

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Wise PLC, down 2.1% to 860.00p, 12-month range 488.00p-905.80p. Shares in the money transfer services firm fall, after stock broker cuts its stock. Numis cuts Wise to 'hold' from 'buy'.

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By Sophie Rose, Alliance News senior reporter

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