13th Oct 2022 11:03
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Thursday.
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SMALL-CAP - WINNERS
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Zotefoams PLC, up 26% at 292.49 pence, 12-month range 233.00p-448.00p. The lightweight foams maker says revenue in the third quarter of 2022 was up 27% year-on-year. It now expects adjusted pretax profit to be "significantly ahead" of market expectations, which currently stands at GBP9.3 million. "Both revenues and margins are also seeing an increasing benefit from pricing actions implemented earlier in the year, in response to cost inflation, as well as from a weaker sterling exchange rate, primarily against the US dollar," it says.
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Treatt PLC, up 12% at 579.92 pence, 12-month range 503.36p-1,315.00p. The ingredients supplier continues to expect pretax profit before exceptional items of between GBP15.0 million and GBP15.3 million for the year ended September 30. It also expects revenue growth of 13% to GBP140 million, in line with market expectations. It "progressive dividend policy" is unchanged, the company adds.
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SMALL-CAP - LOSERS
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Rank Group PLC, down 8.5% at 58.45p, 12-month range 57.00p-187.00p. The Grosvenor casinos owner kicks off its financial year with a revenue hike, though it faces weakening consumer confidence and rising inflationary pressures. In the three months to September 30, group net gaming revenue rose 2% year-on-year on a like-for-like basis to GBP165.7 million. At Grosvenor alone, it was a 5% decline. Visits to its Grosvenor casinos are growing, but spend per head has weakened amid cost of living worries.
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By Eric Cunha; [email protected]
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