10th Apr 2025 10:41
(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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Mears Group PLC, up 15% at 410.25 pence, 12-month range 332.5p-410.25p. The Gloucester-based housing and social care provider says pretax profit in 2024 increased 37% to GBP64.1 million from GBP46.9 million. Basic earnings per share rose 53% to 50.3p from 32.9p, while diluted EPS rose 53% to 48.9p from 31.9p. Revenue increased 4% to GBP1.13 billion from GBP1.09 billion. Adjusted operating margin "strengthened further" to 5.6% from 4.7%, "reflecting strong commercial and operation performance". Board recommends final dividend of 11.25p, bringing the ful-year total to 16.00p, up 23% from 13.00p. Company says it has made a strong start to 2025 and is increasing its guidance. Mears says it expects to be modestly ahead of market expectations with revenue of at least GBP1.05 billion and adjusted pretax profit of minimum GBP50 million. "I am pleased to report on another strong year for the group," Chief Executive Officer Lucas Critchley says. "A strong period of contract retention has bolstered the order book and provides improved revenue visibility over the medium term."
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Rank Group PLC, up 6.0% at 82.65p, 12-month range 65p-96p. The Maidenhead, England-based casino operator says group like-for-like net gaming revenue grew 10.9% in the third quarter to GBP195.6 million. NGR in the year to date rose 12% on-year. Grosvenor venues' LFL NGR grew 13% to GBP90.4 million and Digital LFL NGR rose 15% to GBP58.4 million, jumping 18% for the UK Business and 43% for the Grosvenor brand. Mecca venues' LFL NGR rose 1.9% to GBP36.6 million. Rank says Grosvenor venues' revenue growth was driven by a strong table gaming performance, with NGR up 15%, and electronic roulette where NGR rose 9.5%. Both of these "continue to deliver the benefits from the positive customer reaction to the investment we have been making in our product", Rank says. "Since announcing our interim results in January, we have continued to deliver strong growth and expect to deliver group like-for-like operating profit for the full year in line with expectations," comments CEO John O'Reilly. "This is notwithstanding the uncertain economic environment and the significant cost and regulatory headwinds that we face from the start of Q4."
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SMALL-CAP - LOSERS
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Treatt PLC, down 28% at 231.5p, 12-month range 231.5p-515p. Says it will commence a share buyback programme for a maximum total consideration of GBP5 million. Also says however that for the half year ended March 31, revenue fell to GBP64.2 million from GBP72.1 million, "reflecting lower Heritage and Premium volumes". The extracts and ingredients manufacturer for the beverage, flavour and fragrance industries expects adjusted Ebitda of approximately GBP6.6 million, down from GBP10.6 million. Also expects pretax profit before exceptionals of around GBP3.6 million, down from GBP7.6 million. Company adds: "Whilst the order book and pipeline are robust, including some exciting new customer wins in Premium, we now expect full year [profit before tax and exceptionals] to be between GBP16m and GBP18m, reflecting an ongoing softening of consumer confidence in North America, recent geopolitical uncertainty and sustained high citrus prices, resulting in lower customer demand." On the other hand, it says the buyback reflects the board's "ongoing confidence in Treatt's strategy and medium-term outlook, [and] the group's strong cash performance".
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By Emma Curzon, Alliance News reporter
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