3rd Mar 2025 10:59
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.
----------
SMALL-CAP - WINNERS
----------
Avon Technologies PLC, up 5.7% at 1,514 pence, 12-month range 960p-1,522p. The Wiltshire, England-based protective gear company confirms that Team Wendy Ceradyne has received another delivery order worth USD17.6 million from the US Army under their next-generation integrated head protection system helmet contract, which was previously awarded in 2021. Chief Executive Officer Jos Sclater comments: "This delivery order adds to our strong order book and demonstrates the continued good demand from the US [Department of Defense] for our world-leading head protection technology. We continue to focus on ramping up production in our Cleveland factory to support our DoD programs and to deliver the best possible service to our customers."
----------
Zotefoams PLC, up 3.7% at 278p, 12-month range 268p-574p. The London-based cellular materials company announces that Chief Financial Officer Gary McGrath will retire at some point this year. Says that the search process for his successor is underway, although McGrath will remain in post until October 31 "or longer if required". CEO Ronan Cox says: I would like to thank Gary for his exceptional contribution to Zotefoams over the past nine years, during which revenue has grown from GBP53.9 million to GBP147.8 million and underlying profit before tax has grown three-fold. His financial leadership and strategic vision, particularly during the volatile market conditions the industry has experienced in recent years, has positioned the company strongly for future success and we wish him all the best in his retirement."
----------
SMALL-CAP - LOSERS
----------
Severfield PLC, down 42% at 27.45p, 12-month range 27.45p-89p. The York, England-based structural steel contractor says it has cancelled effective immediately its agreement with Liberum regarding the GBP10 million share buyback programme announced in April. In total, it had repurchased 13.4 million shares for GBP9.3 million shares between April 17 and Friday, February 28. Also issues a downbeat trading update, revising its 2025 underlying pretax profit forecast to between GBP18 million and GBP20 million. Expects 2026 underlying pretax profit to be lower than this revised guidance. Says that "market conditions have shown no signs of improvement" since its interim results in November, "with pricing remaining at tighter levels for longer than expected in a competitive market and project opportunities continuing to be either cancelled or delayed". Says this "includes a large project for which production was expected to commence in January and which has been recently delayed until early FY26". "Whilst the group has sought to mitigate the effects of these prevailing market conditions through new project awards, our normal contract execution improvements and cost reductions, as well as the cancellation of the share buyback programme, it has not been possible to secure sufficient work in the short term to fully offset the non-recovery of factory overheads in Q4," it says. Company adds: "Whilst we continue to see a good pipeline of project opportunities, client decision-making continues to be deferred and projects are not being awarded or progressing within normal timescales, consistent with the current lower level of business confidence in the UK economy as a whole."
----------
By Emma Curzon, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Avon ProtectionZotefoamsSeverfield