23rd Feb 2023 10:37
(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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TT Electronics PLC, up 4.9% at 189.8 pence, 12-month range 123.4p-220p. The Woking, England-headquartered manufacturer of electronic components says annual results will be ahead of expectations. Organic revenue growth will be 20%, thanks to its positioning in structural growth markets, along with adding new projects and customers. Expects adjusted pretax profit to be at the top end of analyst consensus, which TT cites as a range of GBP36.5 million to GBP39.4 million. "We enter 2023 with good momentum, underpinned by a strong order book and will provide a full update with our Annual Results presentation on 8 March," TT says.
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Macfarlane Group PLC, up 3.3% at 109.5p, 12-month range 85.2p-135p. The packaging and label company says annual results are ahead of market expectations, with revenue up 10% to GBP290.4 million from GBP264.5 million. Pretax profit rises 6.4% to GBP19.9 million from GBP18.7 million. Notes results were achieved despite "marked slowdown" in e-commerce spending, and expects challenges to continue into 2023. "Despite these challenges, with the effectiveness of our strategy...we expect Macfarlane Group to continue to deliver further growth in 2023," firm says.
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SMALL-CAP - LOSERS
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Schroder UK Public Private Trust PLC, down 4.4% at 14.17p, 12-month range 13.6p-30p. The London-based investment trust nears its all-time low of 13.56p seen in January.
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By Elizabeth Winter, Alliance News senior markets reporter
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