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SMALL-CAP WINNERS & LOSERS: UP Global posts record annual revenue

15th Aug 2023 09:51

(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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UP Global Sourcing Holdings PLC, up 3.7% at 128.8 pence, 12-month range 90p-174p. The Manchester-based owner of homeware brands, including Salter and Beldra, says revenue rises 7.8% to a record GBP166.3 million in the financial year that ended July 31 from GBP154.2 million a year before. Adjusted pretax profit rises 6.3% to GBP16.8 million, which was also in line with market expectations. "We are delighted that our brands continue to resonate so well with our customers, enabling us to deliver strong revenue growth with no overall price inflation. In achieving this, we are making good on our purpose of providing beautiful and competitively priced products to every home," says Chief Executive Simon Showman.

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Galliford Try Holdings PLC, up 2.3% at 201.5p, 12-month range 142.8p-217.5p. The construction company says Investments and Building businesses sign contracts with an unnamed "major" build-to-rent operator for a GBP52 million development in Wales. The development will consist of 272 one and two-bedroom apartments in a 30-storey tower at Guildford Crescent, close to Cardiff city centre.

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SMALL-CAP - LOSERS

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888 Holdings PLC, down 2.7% at 106.63p, 12-month range 50.5p-160.4p. The Gibraltar-based betting operator swings to a pretax loss of GBP45.2 million in the six months that ended June 30 from a profit of GBP14.4 million a year earlier, even as revenue leaps to GBP881.6 million from GBP332.1 million. Operating expenses multiply to GBP400.2 million from GBP76.2 million. Gaming duties more than treble to GBP190.9 million from GBP62.3 million, while other cost of sales almost doubles to GBP103.1 million from GBP58.2 million. Looking ahead, 888 expects 2023 revenue to be lower than proforma 2022 by a low-to-mid single-digit percentage. "The slower than anticipated recovery in the Middle East means revenues are likely to be at the mid-single digit end of this range," the company says.

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By Elizabeth Winter, Alliance News senior markets reporter

Comments and questions to [email protected]

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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