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SMALL-CAP WINNERS & LOSERS: Rank Group rises as swings to profit

1st Feb 2024 09:58

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

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SMALL-CAP - WINNERS

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Superdry PLC, up 22% at 24.01 pence, 12-month range 14.26p-135.80p. The clothing retailer rises, after its former chief executive joined AG Barr PLC. AG Barr on Thursday announced Euan Sutherland as its next chief executive officer. The Glasgow, Scotland-based maker of soft drinks such as Irn-Bru, Rubicon and Funkin said Sutherland will start on May 1. He stepped down as CEO of Saga PLC earlier this week, having led the provider of travel and insurance services to people aged 50 and over for exactly four years. Prior to Saga, Sutherland was CEO of clothing retailer Superdry PLC.

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Rank Group PLC, up 3.0% at 72.50p, 12-month range 60.40p-107.60p. The gambling company reports its results for the six months ended December 31. It reports revenue of GBP362.6 million up from GBP338.9 million a year earlier. Rank swings to a pretax profit of GBP10.4 million from a loss of GBP109.1 million. Looking ahead, Rank expects the challenging economic environment to remain, however it remains "positive about the future" and expects like-for-like operating profit for the year to be in line with company expectations. "The board has not proposed an interim dividend but expects to recommence dividend payments as soon as circumstances permit," it adds.

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SMALL-CAP - LOSERS

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Wickes Group PLC, down 1.7% at 154.90p, 12-month range 116.39p-160.00p. The building supplies retailer completes first tranche of buyback programme. In July, Wickes announced a GBP25 million share buyback programme. It says it has repurchased 9.2 million shares at an average price of 135.5p, worth GBP12.5 million in total.

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By Sophie Rose, Alliance News senior reporter

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