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SMALL-CAP WINNERS & LOSERS: ME Group jumps as ups guidance

1st Jun 2023 10:22

(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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ME Group International PLC, up 7.1% at 147.40 pence, 12-month range 69.38p-150.60p. The instant-service equipment firm, formerly know as Photo-Me International, increased its full-year outlook following an unexpectedly strong performance over the last six months, with profit and revenue jumping in part due to increased photo booth use. The company said that in the half year ended April 30, its pretax profit was up by over 35% compared with the same period one year prior. Group revenue was up by more than 24%. ME said the increases were due to strong performance in all key business areas and all 19 of its operating markets. ME Group International will also added to the FTSE 250 index on Monday.

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Petra Diamonds Ltd, up 3.7% at 67.90 pence, 12-month range 63.10p-123.00p. BOFA raises Petra Diamonds to 'buy'. The diamond mining company entered a definitive transaction on Wednesday, which give effect to the memorandum of understanding announced in December, involving the sale of 50% less one share of the entity which holds Petra's shareholding in Williamson Diamonds Ltd.

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SMALL-CAP - LOSERS

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Impact Healthcare REIT PLC, down 3.4% at 97.95p, 12-month range 89.20p-125.80p. Jefferies cuts the healthcare-focused real estate investment trust's price target to 113p from 131p. It reiterates its 'buy' recommendation.

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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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