16th Apr 2025 10:37
(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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Vp PLC, up 3.3% at 527p pence, 12-month range 480p-720p. Peel Hunt raises the Harrogate, England-based equipment rental company to 'buy' from 'add', with a price target of 650p. Follows a trading update early on Tuesday in which Vp reported a "resilient" performance and said it expected earnings for the year ended March 31 to be in line with market forecasts, despite challenges in certain end markets.
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ProCook Group PLC, up 1.6% at 31p, 12-month range 16.95p-42.5p. The direct-to-consumer specialist kitchenware retailer says fourth-quarter revenue totals GBP15.5 million, up 18% on-year, "reflecting a further improvement in the trend achieved over recent quarters". Like for like revenue increased 8.8% to GBP13.6 million. For the year to date, revenue is up 11% on-year at GBP69.5 million and LFL revenue rises 4.9% to GBP62.9 million. Ecommerce revenue for the fourth quarter increases 23% to GBP5.9 million, while Retail revenue increases 15% to GBP9.6 million. ProCook expects its full-year gross margin and underlying earnings before interest, tax, depreciation and amortisation to be in line with market forecasts, although underlying pretax profit is anticipated to reflect investment in new stores and "recent FX volatility". Says its net cash position is GBP1.0 million as of March 30, the end of the year, ahead of market expectations. Chief Executive Officer Lee Tappenden comments: "We have delivered a strong full year trading performance, with momentum building as we moved through the year." Looking ahead, he adds that ProCook is "confident in making good progress towards our medium term ambitions of 100 stores, GBP100m revenue and 10% operating profit margin".
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SMALL-CAP - LOSERS
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Speedy Hire PLC, down 3.0% at 18.59p, 12-month range 18.12p-40.15p. The Merseyside, England-based tool and equipment hire company says it expects full-year results in line with its expectations, with the company having "performed robustly...against a challenging market backdrop". Says hire revenue is up "marginally" on an annual basis for the year, but "slightly lower than expected" in the fourth quarter. The top line was "impacted by wider economic conditions and slower than anticipated growth in Trade & Retail". Company adds that there is growing traction in that revenue stream. Government support for major infrastructure projects "remains a significant opportunity", and Speedy Hire adds: "During the last quarter, we have secured several new, multi-year, contracts and we maintain a promising pipeline." Interest costs are slightly higher than previously expected but Speedy Hire is planning cost savings of GBP3.5 million per year including depot closures. Notes that it has refinanced its borrowings, replacing an existing GBP180 million asset-based lending facility with a GBP150 million revolving credit facility and a GBP75 million private placement term loan.
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By Emma Curzon, Alliance News reporter
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Related Shares:
VpSpeedy HireProcook Grp