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SMALL-CAP WINNERS & LOSERS: Superdry shares down 16% as lowers outlook

27th Jan 2023 09:51

(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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On The Beach Group PLC, up 7.2% at 187.52 pence, 12-month range 88.8p-316.5p. The Manchester-based online retailer of beach holidays says it has started its new financial year with a healthier forward order book than the prior year. On The Beach says its total transaction value of holidays sold for October, November and December have exceeded the comparative months in financial 2022, despite historically being the quietest trading period for the company. In addition, bookings since the Christmas period have also increased, though it acknowledges that it was still "very early in the year". The firm says that in the year-to-date total transaction value is up 68% against the equivalent period the year prior.

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SMALL-CAP - LOSERS

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Superdry PLC, down 16% at 125.65p, 12-month range 91.7p-236p. In the six months ended October 29, the clothing retailer swings to a pretax loss of GBP17.7 million from a profit of GBP4.0 million a year before. Revenue as a whole inches up by 3.6% to GBP287.2 million from GBP277.2 million, but within that wholesale revenue falls by 5.2% against the previous year, due to a lagged recovery after Covid and shipment timings. Superdry says this underperformance hurt interim profit. Superdry said it now expects to be broadly breakeven in financial 2023 at the adjusted pretax level. Previously, the firm had expected adjusted pretax profit between GBP10 million to GBP20 million.

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Foxtons Group PLC, down 5.8% at 35.55p, 12-month range 27.05p-47.8p. On Thursday, the London-focused estate agency said it expects 2022 revenue to be ahead of market expectations. It expects revenue to be GBP140 million, up 11% from a year ago. Looking ahead, Foxtons expects the first half of 2023 to be more challenging than a year earlier. This is because it forecasts a more subdued sales market as a result of higher interest rates and general economic uncertainty, alongside inflationary pressures. On Thursday, Foxtons had closed up 0.7%.

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By Sophie Rose, Alliance News reporter

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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