4th Apr 2023 10:00
(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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Pod Point Group Holdings PLC, up 5.6% at 78.42 pence, 12-month range 46p-237.81p. The provider of equipment and systems for charging electric vehicles rises, after a strong start to 2023. In the year-to-date, Pod Point's stock is up 23%. However, in the last 12 months the shares are down 59%.
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SMALL-CAP - LOSERS
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Saga PLC, down 9.3% at 124.44p, 12-month range 71.10p-268.20p. The Kent-based over-50s travel operator says revenue in the financial year that ended January 31 grew by 54% to GBP581.1 million from GBP377.2 million the year before. The company swings to an underlying pretax profit of GBP21.5 million, from a loss of GBP6.7 million. However, the statutory pretax loss widens to GBP254.2 million from GBP23.5 million the year before, reflecting an impairment of insurance goodwill of GBP269.0 million. Saga declares no dividend for the financial year, unchanged year-on-year. Looking ahead, the company says the progress made in the last year puts it in "good stead" as it enters financial 2023. "I am pleased to report that last year the performance of our core Cruise, Travel and Insurance businesses enabled us to return to underlying profitability whilst we also made good progress in relation to the strategy we set out 12 months ago," says Chair Roger De Haan.
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Petrofac Ltd, down 5.1% at 75.00p, 12-month range 45.38p-161.20p. Jefferies cuts Petrofac to 'hold' from a 'buy' rating. It also cuts its price target to 70p from 160p. In the last twelve months, shares in the energy services company are down 28%. However, the stock surged around 70% last week Thursday, after winning a wind farm contract alongside Hitachi Ltd.
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By Sophie Rose, Alliance News reporter
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Related Shares:
SagaPetrofacPod Point