9th Apr 2025 10:59
(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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Saga PLC, up 0.2% at 125.60 pence, 12-month range 93.40p-151.00p. Pretax loss widens to GBP160.2 million in the financial year that ended January 31, from GBP123.8 million the year before. Revenue grows 4.2% to GBP588.3 million from GBP564.6 million, while impairment of non-financial assets for the year increases 44% to GBP162.8 million from GBP113.3 million. Chief Executive Officer Mike Hazell says: "The foundations for growth are now in place and we are already making tangible progress. By continuing to be a delivery-focussed business, with our customers always front of mind, I am confident that the plans we have in place will step change our financial performance within the next five years, delivering a business with annual underlying profits of at least GBP100.0m, strong cash generation and leverage of less than 2.0x [earnings before interest, tax, depreciation and amortisation]."
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SMALL-CAP - LOSERS
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Oxford BioMedica PLC, down 4.9% at 243.50 pence, 12-month range 187.83p-455.00p. Pretax loss narrows to GBP47.3 million during 2024, from GBP188.5 million in 2023. Revenue grows 44% to GBP128.8 million from GBP89.5 million, while cost of sales increases 52% to GBP75.8 million from GBP49.8 million. However, operating costs are reduced by 34% to GBP57.3 million from GBP86.2 million, and Oxford BioMedica reports no cost from the impairment of assets compared to GBP99.3 million in 2023. The firm's loss before interest, tax, depreciation and amortisation narrows to GBP15.3 million from GBP52.8 million. "With our strong commercial momentum and the successful execution of our strategy, we are on track to achieve significant revenue growth consistent with our medium-term guidance and well above industry levels," says Chief Executive Officer Frank Mathias. "Through continued focus on efficiency and a disciplined approach to our cost base, we also expect to achieve operating Ebitda profitability for FY 2025." The company expects annual revenue in 2025 to be second half-weighted and to grow by at least 24% to between GBP160 million and GBP170 million. Oxford BioMedica forecasts revenue growth at a compound annual growth rate of more than 35% from 2023 to 2026.
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Petra Diamonds Ltd, down 1.5% at 27.59p, 12-month range 23.50p-50.70p. Sells 175,643 carats of diamonds in its fifth tender of financial year 2025, down 5.7% from 186,244 carats the year before and 3.4% lower than 181,857 carats in tender 4. Tender 5 sales total USD18 million, 14% lower on-year from USD21 million, but 5.9% higher than USD17 million in tender 4. Average price per carat in tender 5 is USD101, flat on-year and up 8.6% from USD93 in tender 4. Tender 5 sales for the Cullinan mine were initially expected to complete by the end of this week, the diamond miner said, but US tariff announcements have resulted in "considerable" diamond market uncertainty. As a result, Petra Diamonds postponed tender 5 sales for the mine, which is estimated at around 200,000 carats) until there is "greater clarity around the impact of the tariffs". The firm believes this decision will also lead to more supportive market prices for the mine's goods.
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By Emily Parsons, Alliance News reporter
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Oxford BiomedicaPetra DiamondsSaga