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(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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Renewi PLC, up 7.3% at 694.00 pence, 12-month range 500.00-855.00p. The waste management company says revenue in the year ended March 31 climbed 10% to EUR1.87 billion from EUR1.69 billion. Pretax profit surges to EUR95.7 million from EUR10.9 million. In addition, the Milton Keynes, England-based firm expects its performance for the new financial year to top prior expectations. It also announces the EUR67 million acquisition of Amsterdam-based commercial waste and recycling business GMP Exploitatie BV, or Paro, from GMP Groep BV.
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Forterra PLC, up 3.8% at 250.50 pence, 12-month range 197.40p-330.00p. The Northhampton, England-based building product manufacturer says trading in the four months ended April 30 ahead of both the prior year and 2019 comparatives. Revenue is 25% higher year-on-year and up 18% from pre-virus times. "The group continues to face further cost inflation although we have successfully passed on cost increases to our customers with brick selling price increases of 12% implemented from 1 April in addition to the 16% applied in January," Forterra says. Expects annual results to be "materially ahead of its previous expectations". The company also announces Chief Executive Officer Stephen Harrison will step down. He will remain with the firm until the first half of 2023.
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Topps Tiles PLC, up 1.9% at 53.00 pence, 12-month range 51.00p-81.00p. The Enderby, England-based tile retailer reports record first half revenue of GBP119.2 million in the 26 weeks to April 2, up 16% year-on-year from GBP103.2 million. Pretax profit rises 40% to GBP5.6 million from GBP4.0 million. It declares a 1.0p dividend, having not paid an interim dividend a year earlier.
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SMALL-CAP - LOSERS
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Avon Protection PLC, down 15% at 1,014.00p, 12-month range 860.00p-3,284.09p. In the six months ended April 2, the personal protection company's revenue is largely flat annually at USD121.9 million from USD122.0 million. However, it swings to a pretax loss of USD13.6 million from a USD400,000 profit. In addition, it says Paul McDonald will step down after five years as CEO. He will leave at the end of the financial year, but will make himself available to support a new CEO's transition. Looking ahead, it describes "revenue mix" risks to the second half amid "volatility of funding and timing of customer orders".
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By Eric Cunha; ericcunha@alliancenews.com
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