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SMALL-CAP WINNERS & LOSERS: Petra shines; Made.com falls flat

Tue, 19th Jul 2022 10:47

(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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Photo-Me International PLC, up 16% at 92.64 pence, 12-month range 55.70p-96.39p. The Epsom, Surrey-based operator of instant-service equipment says its first-half outturn was boosted by easing virus restrictions. Revenue in the six months to April 30 rises 22% to GBP115.3 million from GBP94.6 million a year earlier. Pretax profit surges 66% to GBP19.9 million from GBP12.0 million. Photo-Me declares a 2.6 pence interim dividend, having not paid one a year earlier. It also declared a 6.5p special payout. The stock hits this 12-month high on Tuesday.

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Petra Diamonds Ltd, up 5.2% at 102.00 pence, 12-month range 0.45p-103.00p. The company says revenue from diamond sales rise 46% to USD178.8 million in the fourth quarter ended June 30. For the whole of its financial year, revenue is up 44% to USD584.1 million. The 103p 52-week high is achieved on Tuesday.

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Palace Capital PLC, up 4.6% at 278.24 pence, 12-month range 230.00p-297.00p. The commercial real estate investor bins a proposed strategic change. Palace Capital will still pursue the sale of its industrial portfolio of eight assets, valued at GBP46.5 million. Proceeds will be returned to shareholders. Palace had initially planned to reposition itself as an environmental, social and governance-driven "regional office market specialist". The strategy has been changed after investor feedback.

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SMALL-CAP - LOSERS

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Made.com Group PLC, down 38% at 23.95p, 12-month range 22.80p-200.00p. The furniture retailer lowers guidance as consumer purse strings tighten. It also hints at a potential fundraise. Gross sales in the first half of 2022 were 19% lower year-on-year, though up 55% from pre-virus levels. For 2022, Made now expects gross sales to fall by between 15% to 30%. It had previously expected an outcome ranging from flat sales to a 15% fall. Revenue guidance has been lowered to a range of a 9% fall to a 24% fall from between 8% growth and a 7% decline previously. Shares are now 88% below the initial public offering price.

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By Eric Cunha; ericcunha@alliancenews.com