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SMALL-CAP WINNERS & LOSERS: Wickes outperforms; DFS outlook stark

Thu, 15th Sep 2022 11:55

(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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Wickes Group PLC, up 7.7% at 124.54 pence, 12-month range 111.1p - 253.8p. Notes its outperformance compared to the wider home improvement market and reaffirms annual profit guidance, despite interim results showing profit is 14% lower year-on-year at GBP33.5 million, from GBP35.7 million in the 26 weeks to July 2. Revenue edges up 1.3% to GBP822.3 million from GBP812.0 million. Raises dividend 71% to 3.6p from 2.1p. "While market volumes have declined, we have made further market share gains and delivered a particularly strong performance in Trade, with an acceleration in the rate of sign-ups to our TradePro membership scheme," says Chief Executive Officer David Wood. Anticipates adjusted pretax profit between GBP72 million and GBP82 million.

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Trustpilot Group PLC , up 6.6% at 68.2p, 12-month range 51.85p-418.81p. The online review platform names Zillah Byng-Thorne as deputy chair and non-executive director from October 1. Byng-Thorne, currently CEO of online media firm Future PLC, steps down with immediate effect from her position as senior independent director of e-commerce retailer THG PLC. Earlier in the week, the firm reported strong interim results, with a double-digit rise in revenue and a narrowed loss.

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Civitas Social Housing PLC, up 4.2% at 78.38p, 12-month range 67.1p-100p. The social housing investor says trading remains robust and in line with management expectations. Buys back GBP10.9 million in shares over the past year, at a discount to prevailing net asset value, which enhances NAV per share by 0.4p.

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SMALL-CAP - LOSERS

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THG PLC, down 14% at 41.99p, 12-month range 37.26p-668.5p. The online retail company cuts annual guidance, now expecting adjusted earnings before interest, tax, depreciation and amortisation to come in at a range of GBP100 million to GBP130 million. Earlier this year, it had been expecting adjusted Ebitda of GBP161 million, in line with the previous year. The downgrade comes despite a narrowed interim loss and a 12% increase in revenue, and is the result of a lower margin due to "adverse macro-economic conditions and a period of unusually high raw material costs".THG also said two non-executive directors are departing and two new ones have been appointed.

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DFS Furniture PLC, down 12% at 119.00p, 12-month range 115p-287.23p. Shares in the sofa seller are hit after it warns that UK furniture market is "challenging" and outlook uncertain. Says order volumes "softened markedly" in the fourth quarter and gives range of trading outlook scenarios. In worst case view, sees profit before tax and brand amortisation around GBP20 million, which would be down sharply from the GBP60.3 million achieved in the financial year ended June 2022. This, in turn, was down from GBP109.2 million the year before that. Shares in online furniture retailer Made.com Group PLC were down 4.8% in a negative read-across.

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By Elizabeth Winter; elizabethwinter@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

More News
19 Sep 2022 21:50

PRESS: Future searches for new CEO as Byng-Thorne to leave - Sky News

(Alliance News) - Future PLC Chief Executive Officer Zillah Byng-Thorne intends to step down in 2023, Sky News reported on Monday.

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16 Sep 2022 09:44

LONDON BROKER RATINGS: Goldman Sachs cuts Landsec and British Land

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

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15 Sep 2022 10:00

TOP NEWS: THG shares fall as cuts earnings guidance, changes directors

(Alliance News) - THG PLC on Thursday cut its earning guidance for 2022 despite narrowing its interim loss, amid a board shake-up as two directors left and two joined.

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15 Sep 2022 09:24

IN BRIEF: Trustpilot rises with appointment of Byng-Thorne as chair

Trustpilot Group PLC - Copenhagen-based online review platform - Hires Zillah Byng-Thorne as deputy chair and a non-executive director, effective from October 1. With immediate effect from today, she is stepping down as the senior independent director from e-commerce retailer THG PLC. Currently, Byng-Thorne is the chief executive officer of magazine publisher and online media company Future PLC.

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13 Sep 2022 16:52

LONDON MARKET CLOSE: Stocks red on faster-than-expected US inflation

(Alliance News) - Stocks in London closed lower on Tuesday as markets locked in the expectation of a 75 basis point hike from the US Federal Reserve next week, following a US inflation print which topped forecasts.

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13 Sep 2022 08:57

LONDON MARKET OPEN: FTSE 100 hovers as Ocado and other grocers fall

(Alliance News) - Stocks in London were treading water early Tuesday ahead of a key US inflation reading in the afternoon.

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13 Sep 2022 08:50

TOP NEWS: Future expects annual results at the top-end of expectations

(Alliance News) - Future PLC on Tuesday said it expects profit to be at the top-end of expectations, as it has returned to organic audience growth.

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13 Sep 2022 07:49

LONDON BRIEFING: UK unemployment rate posts surprise decline

(Alliance News) - Stocks in London are set to open on a subdued note ahead of an eagerly awaited US inflation print.

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13 Sep 2022 07:14

Future FY adjusted operating profits seen at top end of expectations

(Sharecast News) - Media company Future said on Tuesday that the "encouraging performance" detailed by the group in its June trading update had continued despite operating within a "challenging macro" environment.

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27 Jun 2022 09:55

LONDON BROKER RATINGS: Credit Suisse cuts Ocado; Liberum ups Whitbread

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning:

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17 Jun 2022 17:27

London's FTSE 100 records third weekly losses as recession fears linger

June 17 (Reuters) - London's FTSE 100 ended lower on Friday, weighed down by weakness in resource-linked shares, and recorded its third straight week of fall on worries about sluggish economic growth.

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17 Jun 2022 12:16

LONDON MARKET MIDDAY: Small respite for stocks at end of rocky week

(Alliance News) - London's stock market rebound grew more confident on Friday as traders tried to get past the week's worry over rising interest rates and slowing economic growth.

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17 Jun 2022 08:53

LONDON MARKET OPEN: Weak bounce as investors weigh central bank moves

(Alliance News) - The FTSE 100 appeared wobbly on Friday morning as it attempted a rebound, with investors still digesting the week's central bank moves.

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17 Jun 2022 08:13

Future on track for full-year targets; completes WhoWhatWear purchase

(Alliance News) - Future PLC on Friday said it is "on track" to achieve full-year targets as it completed the acquisition of digital-only women's lifestyle publisher WhoWhatWear.

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