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(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.
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SMALL-CAP - WINNERS
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Foxtons Group PLC, up 13% at 53.06 pence, 12-month range 28.75p-53.06p. The estate agency begins 2024 by continuing its buoyant share performance across 2023. In the last 12 months, it is up 75% and up 51% from towards the end of October. In late November, shares rose amid a report from the Sunday Times that it was under pressure from shareholders to put itself up for sale. In late October, revenue rose in the third quarter of 2023 to GBP43.9 million from GBP43.8 million the year before. It said it expected a robust performance in the fourth quarter with the supply of available rental properties likely to improve, although year-on-year rental increases are expected to moderate. It will release its full-year results in early March.
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SMALL-CAP - LOSERS
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Ceres Power Holdings PLC, down 6.1% at 171.50p, 12-month range 131.10p-518.00p. The clean energy technology developer's downbeat trading persists into the new year. In the last month, it is down 4.8% but more significantly, it is down 43% in the last six months and 52% in the last 12 months. In late November, Ceres said it expected 2023 revenue to be around GBP20 million to GBP21 million, down from GBP22 million in 2022. It said this was because it would be unlikely it would sign an agreement with "the most imminent of the new licensees" in time for the associated revenue to be recognised in 2023, despite an agreement "progressing well". It said it was in engaged in a number of discussions with potential licence partners, after noting in September that 2023 would be dependent on the timing of securing new licence partners. It will release its 2023 results in late March.
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By Greg Rosenvinge, Alliance News senior reporter
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