23rd Jul 2024 10:15
(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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Ceres Power Holdings PLC, up 4.7% at 209.36 pence, 12-month range 126.40p-431.80p. The stock extends gains from Monday, when it shot up 7.5%. The developer of clean energy technology had said Monday it won a manufacturing licence partnership with an Asia Pacific-based original equipment manufacturer. It also raised its revenue outlook.
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Fuller, Smith & Turner PLC, up 1.1% at 724.00 pence, 12-month range 540.00p-742.00p. The pub chain says inflation pressure is abating and its margins "are recovering". Like-for-like sales grow 5.3% in the 16 weeks to July 20. This is the first 16 weeks of its financial year. Fuller's said trading momentum has continued, "with inflationary pressures easing, our margins are recovering". Chief Executive Simon Emeny says: "I am delighted to see our sales growth momentum continue, particularly against the backdrop of easing inflation, which will help us to grow margins and profit, as well as revenue. You can feel the positivity across the business, with our team members working energetically to drive our continued success. We have had a strong start to the financial year, and we look forward to the opportunities the future will bring. We have a new UK government in place, and I urge Sir Keir Starmer to stand by his commitment to overhaul our archaic business rates system. The Labour Party has a clearly stated objective to grow the economy and the hospitality sector can be an excellent engine to help deliver that growth."
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SMALL-CAP - LOSERS
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Luceco PLC, down 2.3% at 165.20p, 12-month range 97.37p-195.00p. The lighting manufacturer and distributor says it has made a "strong start" to 2024, but "key industry metrics remain weak" and it makes a cost warning. Revenue in the first half of the year grows 8% to GBP109 million, it predicts. It expects to report adjusted operating growth of around 15% to GBP12.5 million. "The board is encouraged by the strong start to the year with performance expectations for the full year in line with market expectations," it says. "We continue to closely monitor the cost of container shipping, which has recently increased significantly. Key industry metrics remain weak, however, we remain confident that growth in our core markets will return in the not too distant future."
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By Eric Cunha, Alliance News news editor
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