29th Mar 2023 10:05
(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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Medica Group PLC, up 3.5% at 154.25 pence, 12-month range 118.25p-173.5p. The telemedicine services provider reports double-digit annual growth in 2022. Revenue rises 24% year-on-year to GBP77.0 million from GBP61.9 million, as pretax profit jumps 18% to GBP8.6 million from GBP7.3 million. Proposes lifting final dividend by 5.0% to 1.88p. Says outlook remains strong, with ongoing demand underpinning further double-digit growth in the medium term. To meet demand will focus on "increasing reporting capacity and enabling greater productivity for radiologists, radiographers and other specialist doctors who choose to work with Medica".
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SMALL-CAP - LOSERS
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Phoenix Spree Deutschland Ltd, down 7.8% at 200p, 12-month range 194.5p-396p. The Berlin-focused residential real estate investor reports a swing to pretax loss of EUR17.5 million in 2022 from a profit of GBP45.3 million in 2021. Net asset value per share falls 5.1% to EUR4.50 at December 31, from EUR4.74 a year before. Gross rental income edges up 0.6% to EUR25.9 million from EUR25.8 million. "During 2022, the real estate industry has had to adjust to the combined effects of global inflationary pressures and higher interest rates, both of which have weighed on industry transaction volumes and asset values," explains Chair Robert Hingley.
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Up Global Sourcing Holdings PLC, down 3.6% at 135.00p, 12-month range 90p-174p. The homeware brand owner reports interim results for six months to January 31, showing a decline in profit. Pretax profit falls 5.2% to GBP9.3 million from GBP9.8 million a year before, even as revenue rises 2.2% to GBP87.6 million from GBP85.7 million. Notes revenue growth was "achieved with no overall price inflation to keep [its] products at prices which are affordable to all consumers". Expects annual performance to come in line with GBP165.3 million market consensus for revenue, up from GBP154.2 million. Expects adjusted earnings before interest, tax, depreciation and amortisation to be in line with consensus of GBP20.1 million, up from GBP18.8 million.
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By Elizabeth Winter, Alliance News senior markets reporter
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