9th Feb 2024 09:28
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Friday.
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SMALL-CAP - WINNERS
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Kier Group PLC, up 4.6% at 133.46 pence, 12-month range 64.00p-134.20p. Berenberg starts the infrastructure services, construction and property company with a 'buy' broker rating, and a target price of 210p.
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SMALL-CAP - LOSERS
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S&U PLC, down 8.1% at 1,930.00p, 12-month range 1,850.00p-2,570.00p. The motor and property-focused lender says that the headwinds experienced in 2023 had continued into the new year, taking a toll on the company's progress and profitability. Poor consumer confidence, alongside high interest rates and cost-of-living pressures, have reduced the company's confidence for the near future. "While we continue to invest in the receivables which drive our future profit", S&U says, "we do so with caution". While S&U says that headwinds were primarily in the final quarter of 2023, the company said that the impact on collections will temporarily impact the group's profitability. As a result, pretax profit for the year ended January 31 is expected to end up between 10% and 15% below the consensus expectations of GBP38.0 million, down from GBP41.4 million in 2022.
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By Sophie Rose, Alliance News senior reporter
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