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SMALL-CAP WINNERS & LOSERS: ProCook rises on higher quarterly revenue

9th Apr 2024 09:07

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Tuesday.

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SMALL-CAP - WINNERS

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ProCook Group PLC, up 7.6% at 26.80 pence, 12-month range 17.82p-34.00p. The kitchenware company reports results for its fourth quarter, ended March 31. Revenue in the quarter edged up 4.8% annually to GBP13.2 million. It says its results outperformed the UK kitchenware market by around 2%. "Despite the market remaining subdued, we are gaining share giving us confidence that our proposition continues to resonate with consumers. We look forward to delivering further strategic progress as we continue to build an even stronger customer-focused business which will allow us to accelerate profitable growth as trading conditions improve," says Chief Executive Officer Lee Tappenden.

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Schroders Capital Global Innovation Trust PLC, up 7.8% at 13.40p, 12-month range 11.95p-15.95p. The investment trust rises, despite slow start to 2024. In the year-to-date, the stock is down 17%.

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SMALL-CAP - LOSERS

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Ultimate Products PLC, down 2.3% at 146.37p, 12-month range 113.00p-170.00p. The owner of homeware brands, including Salter and Beldray, reports results for the six months ended January 31. Interim revenue fell to GBP84.2 million from GBP87.6 million. Pretax profit rose to GBP9.5 million from GBP9.3 million. Pays out interim dividend of 2.45p up from 2.43p. Looking ahead, Ultimate Products says it continues to trade in line with market expectations for financial 2024. CEO Andrew Gossage comments: "Macro conditions remain challenging, but our strategy of providing beautiful products at mass-market prices to UK and European households is continuing to stand us in good stead. We are now seeing the gradual resumption of normal ordering patterns from our customers after the overstocking issues that were brought about by the pandemic, and we have a range of initiatives underway to improve operational efficiencies and deepen our customer relationships."

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By Sophie Rose, Alliance News senior reporter

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