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(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Friday.
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SMALL-CAP - WINNERS
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888 Holdings PLC, up 19% at 73.45 pence, 12-month range 50.5p-222p. The Gibraltar-based online betting and gaming company says annual revenue is GBP1.24 billion for 2022, up 74% from GBP712.3 million in 2021, primarily driven by the completion of William Hill acquisition. Swings to a pretax loss of GBP115.7 million from a profit of GBP56.0 million, due to exceptional costs and adjusting items of GBP184.8 million. However, adjusted earnings before interest, tax, depreciation and amortisation amounts to GBP217.9 million, up from GBP119.7 million. Looking ahead, 888 expects 2023 revenue to be lower than 2022 by a low to mid single-digit percentage, but adjusted Ebitda to be higher.
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AO World PLC, up 12% at 75.55p, 12-month range 37.22p-99.9p. The electrical retailer says it is reaping the rewards of its cost reduction and margin improvement actions. "The potential adverse effects from trading risks, continuing macroeconomic uncertainty and tough consumer environment that we anticipated at 28 February have not materialised to the extent envisaged," it says. Consequently, it is raising profit guidance to the top end of the previous GBP37.5 million to GBP45 million range for earnings before interest, tax, depreciation and amortisation. Expects annual UK revenue in the 12 months to March 31 to be GBP1.13 billion, in line with its plans. However, this is below the GBP1.37 billion revenue for the UK in the previous year. "AO enters the new financial year with net funds on the balance sheet, a robust trajectory, and full confidence in our ability to deliver on our medium-term profit guidance of 5% adjusted Ebitda," says CEO & Founder John Roberts.
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SMALL-CAP - LOSERS
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Superdry PLC, down 19% at 86.54p, 12-month range 82.6p-184.4p. The clothing retailer's stock nears a 12-month low. Superedry withdraws its existing guidance of "broadly breakeven" adjusted pretax profit in financial 2023 ending April 30, compared to a profit of GBP21.9 million in financial 2022. "Retail sales in February and March, whilst showing significant year-on-year like-for-like growth, have not met our expectations. This can partly be attributed to factors outside the company's control, including the cost-of-living crisis having a significant impact on spending and footfall, and poor weather resulting in less demand for our new spring-summer collection," it explains. Expects revenue of between GBP615 million and GBP635 million, up at least 0.9% from GBP609.6 million a year prior. The company adds it is considering issuing shares to strengthen its balance sheet.
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By Elizabeth Winter, Alliance News senior markets reporter
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