15th Jun 2022 11:00
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.
----------
SMALL-CAP - WINNERS
----------
ProCook, up 9.9% at 41.77 pence, 12-month range 36.20p-166.00p. The kitchenware retailer enjoys a minor rebound following several bruising sessions. The stock is down 73% in the year-to-date.
----------
Severfield PLC, up 7.8% at 64.70p, 12-month range 59.00p-84.84p. Reports increase in annual revenue, supported by higher steel prices, and ups payout to shareholders. The Thirsk, England-based structural steelmaker posts pretax profit of GBP21.0 million in the financial year that ended March 26, down 0.5% from GBP21.1 million the year before. Revenue grows 11% in financial 2022 to GBP403.6 million from GBP363.3 million in financial 2021. The company attributes this to higher steel prices and a full-year revenue contribution from DAM Structures, which it acquired in February 2021.
----------
SMALL-CAP - LOSERS
----------
Motorpoint Group PLC, down 6.0% at 212.04p, 12-month range 194p-401p. The vehicle retailer reports substantial annual earnings growth, but cautions on uncertain outlook amid a squeeze on consumer spending and supply chain challenges. In the year ended March 31, revenue climbs 83% to GBP1.32 billion from GBP721.4 million. Pretax profit more than doubles to GBP21.5 million from GBP9.7 million. Revenue hit a record high thanks to a "combination of market share growth and vehicle price inflation", Motorpoint says. However, outlook appears shaky. Motorpoint notes that rising inflation is putting pressure on consumer spending, something which is likely to reduce overall sales in its markets. Further, supply chain issues will continue to limit new car production, which in turn constrains used-car supply.
----------
By Lucy Heming; [email protected]
Copyright 2022 Alliance News Limited. All Rights Reserved.
Related Shares:
Procook GrpSeverfieldMotorpoint