(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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DWF Group PLC, up 3.2% at 64.00 pence, 12-month range 61.00p-110.00p. The legal business with operations in North America says it expects to report revenue of about GBP380 million for the financial year ended April 30, reflecting growth of more than 8%. Looking ahead, it says it is highly confident in medium term guidance, underpinned by its cost programme. The cost programme is now expected to remove over GBP15 million of cost by the end of financial 2024, versus the GBP10 million to GBP12 million reported in December 2022. Chief Executive Officer Nigel Knowles says: "Our performance continues to show how robust a business we are, even in a challenging environment. We have delivered consistently strong revenue growth and underlying organic growth, with the initial benefits of our cost control programme also coming through."
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Greencore Group PLC, up 3.8% at 78.70p, 12-month range 60.15p-121.90p. The convenience foods maker reports revenue of GBP925.8 million in the six months ended March 31, up from GBP770.8 million a year earlier. However, its swings to a pretax loss of GBP6.2 million from a pretax profit of GBP1.0 million. Greencore says it has also launched a GBP10 million share buyback programme. Looking ahead, Greencore expects full-year results in line with current market expectations. "We are pleased to launch our third share buyback programme since May 2022 today as part of our wider commitment to return GBP50 million to shareholders by May 2024. With our strong balance sheet and continued optimism around our business prospects, we retain the ongoing flexibility to return value in the form of buyback, dividends or both and will continue to assess our capital returns policy at the time of year end results," said CEO Dalton Philips.
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SMALL-CAP - LOSERS
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Pod Point Group Holdings PLC, down 6.2% at 70.01p, 12-month range 46p-223p. The provider of equipment and systems for charging electric vehicles gives back some gains, after strong start to 2023. In the year-to-date, the stock is up 9.4%, but in the last 12-months the shares are down 65%.
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By Sophie Rose, Alliance News reporter
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