25th Feb 2025 10:59
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Tuesday.
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SMALL-CAP - WINNERS
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McBride PLC, up 1.1% at 144 pence, 12-month range 88p-155.5p. The Manchester, England-based private label products maker, for the domestic household and professional cleaning and hygiene markets, reports its half-year results for the period ended December 31. Revenue totals GBP471.4 million, up 0.7% from GBP468.0 million the year before. Pretax profit rises 8.3% to GBP25.7 million from GBP17.4 million. Diluted earnings per share rise to 10.9 pence from 7.0p, while adjusted basic EPS jump 25% to 11.9p from 9.5p. "Despite the backdrop of inflation, strong operational delivery, careful management of costs and tight management of margins have contributed to a period of steady, sustainable growth," McBride says. Going forward, its "full-year adjusted operating profit estimate remains in line with internal expectations". Notes that "consumer cost-of-living challenges persist, supporting the ongoing strength of underlying private label demand across the group's main markets" and that "our normalised financial position now provides optionality on capital deployment, including the return of an annual dividend".
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SMALL-CAP - LOSERS
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TT Electronics PLC, down 8.2% at 77.1p, 12-month range 73.6p-179p. The manufacturer of electronic solutions for critical applications says the release of its final results for 2024 will be delayed by up to two weeks, "due to additional time required to complete the audit". Company confirms that it expects adjusted operating profit is to be in line with prior guidance, and that "free cash flow generation has been strong and therefore year-end leverage is within our target range of 1-2x". Expects however a non-cash accounting impairment of goodwill and fixed assets worth up to GBP35 million for North America, due to "the previously disclosed downturn in components demand and operational execution challenges". Also notes "a prior year results adjustment of up to GBP6 million in relation to the Cleveland site". Says its improvement plan for Cleveland is underway but that the benefits will take longer to realise than originally expected. It no longer expects its medium-term 12% adjusted operating margin target to be delivered in 2026. Chief Financial Officer Mark Hoad, who announced his intention to retire in November, will stay on until the revised results announcement date, after which his successor Eric Lakin will be appointed CFO.
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By Emma Curzon, Alliance News reporter
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