12th Jun 2024 10:14
(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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VPC Specialty Lending Investments PLC, up 1.4% at 42.79 pence, 12-month range 40.50p-74.19p. Shares in the investor in asset-backed loans to businesses edge higher. VPC says its net asset value per share on March 31 was 78.59p, down from 80.91p annually. First quarter NAV with income return was negative 0.38%, compared to 9.45% a year ago.
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SMALL-CAP - LOSERS
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DFS Furniture PLC, down 4.1% at 108.00p, 12-month range 95.00p-154.80p. Shares in the sofa retailer fall as it warns of a weak trading environment and Red Sea shipping delays, and lowers its profit and revenue guidance for the current financial year ending June 30. DFS now expects an adjusted pretax profit of between GBP10 million and GBP12 million, down from a previous guidance back in March of GBP20 million to GBP25 million. It anticipates revenue between GBP995 million and GBP1.00 billion, lower than GBP1.00 billion to GBP1.02 billion it had previously expected. "Consumer demand in the upholstery sector has declined about -10% in volume terms year on year from a weak starting point bringing overall market demand levels to record lows," the company says. Jefferies cuts DFS's price target to 140p from 170p. The broker leaves its broker rating as 'buy'.
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By Sophie Rose, Alliance News senior reporter
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