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SMALL-CAP WINNERS & LOSERS: Topps Tiles falls again; Gulf Marine rises

5th Apr 2024 09:43

(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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Gulf Marine Services PLC, up 0.9% at 22.60 pence, 12-month range 4.40p-23.00p. Shares spike to this one-year high on Friday. On Thursday, the provider of self-propelled and self-elevating support vessels for the offshore oil, gas, and renewable energy sectors reports double-digit earnings growth in 2023.

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Pinewood Technologies Group PLC, up 0.2% at 38.97 pence, 12-month range 34.00p-39.40p. It confirms a plan to issue a special dividend to shareholders, following the sale of its UK motor and leasing business. Pinewood will return GBP358 million to shareholders through a special dividend of 24.5 pence per share, as it pledged to last year. In February, it said it completed the disposal of the motor and leasing unit for GBP367 million to Lithia Motors Inc, alongside a GBP30 million subscription, marking the beginning of its transformation from Pendragon to Pinewood Technologies, a software-as-a-service pure-play.

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SMALL-CAP - LOSERS

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Topps Tiles PLC, down 1.4% at 41.02p, 12-month range 40.80p-57.80p. The stock falls to a one-year low and is down 9.3% so far this week. In a trading update on Wednesday, the Leicester-based tile retailer said the weaker market, higher pay and seasonally higher energy usage would weigh on first half profit. Annual profit is expected to be weighted towards the second half. The company said subdued demand in the domestic repair, maintenance and improvement sector, especially for bigger ticket projects, has persisted into 2024, resulting in lower footfall into stores. Shares had fallen for three days in a row heading into Friday.

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By Eric Cunha, Alliance News news editor

Comments and questions to [email protected]

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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