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SMALL-CAP WINNERS & LOSERS: XPS Pensions posts double-digit growth

23rd Nov 2023 10:56

(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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XPS Pensions Group PLC, up 2.2% at 231 pence, 12-month range 127p-235p. The pensions consulting and administration firm reports a solid set of interim results. In the half-year to September 30, total advisory income rises 28% year-on-year to GBP54.6 million from GBP42.5 million, and revenue grows 23% to GBP94.5 million from GBP77.0 million. XPS cites high levels of client activity, new wins, inflationary fee increases as well as bolt-on mergers & acquisitions as being behind the growth. Pretax profit rises 19% to GBP8.1 million from GBP6.8 million. Its interim dividend also grows by double digits, rising 11% to 5.9p from 5.3p. "We expect the demand for our services to remain high underpinned by both market and regulatory tailwinds as well as the strength of our brand," the firm says. It now expects annual results ahead of its previous expectations.

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SMALL-CAP - LOSERS

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Motorpoint Group PLC, down 4.4% at 74p, 12-month range 70.8p-164.5p. The automotive retailer reports a less impressive set of interim results for the six months to September 30, with a somewhat gloomy outlook. Revenue drops 23% on-year to GBP607.2 million from GBP786.7 million, while pretax loss comes in at GBP4.7 million, swung from a GBP3.0 million profit. "The impact of high inflation, interest rates, and consumer uncertainty continues to affect demand for used cars. This is impacting the value of used cars, which has fallen since the end of the period, with a reduction in wholesale values of circa 6% in just the last six weeks. Whilst we have taken proactive measures to limit the impact on our stock, the current environment is likely to be volatile as new car supply into the used car market begins to increase," it explains.

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By Elizabeth Winter, Alliance News deputy news editor

Comments and questions to [email protected]

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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