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SMALL-CAP WINNERS & LOSERS: Henry Boot up as starts year well

25th May 2023 10:58

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

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SMALL-CAP - WINNERS

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Henry Boot PLC, up 4.7% at 246.00 pence, 12-month range 215.00p-349.00p. The property developer says it has started the year well, trading in line with expectations. Its three key markets - Industrial & Logistics, Residential and Urban Development - are showing signs of recovery. "Against a backdrop of economic uncertainty and increased mortgage costs, house prices have remained resilient," it adds.

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Esken Ltd, up 3.8% at 5.19 pence, 12-month range 4.41p-11.40p. Shares in the aviation services and renewable energy group are up 10% over the past two months but remain down 38% over the past 12.

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SMALL-CAP - LOSERS

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Headlam Group PLC, down 8.8% at 240.00p, 12-month range 230.00p-250.00p. The floor coverings distributor says revenue for the first four months of 2023 was 3.4% above the same period in 2022. However, its notes that volumes in the residential sector market were down due to the current economic environment and in particular weak consumer confidence. Headlam says lower residential volumes, coupled with the moderation in price increases, has reduced gross margin in the first four months of the year. It adds that it is deploying "several mitigating actions" to fight back.

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Renewi PLC, down 3.9% at 563.00p, 12-month range 479.50p-853.00p. The waste-to-product company says pretax profit fell to EUR93.1 million in the financial year that ended March 31 from EUR95.7 million the year before. Revenue rises to EUR1.89 billion from EUR1.87 billion. Looking ahead, Renewi says it continues to trade in-line with expectations for financial 2024. It declared no dividend for financial 2023, but said it will keep the policy under review in the next financial year.

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By Sophie Rose, Alliance News reporter

Comments and questions to [email protected]

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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