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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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Saga, up 9.4% at 381.20 pence, 12-month range 118.50p-2,308.50p. The over-50s travel and insurance provider says it is seeing pent-up demand for cruises and is ready for its ships to leave dock as soon as governments allow. Saga reported a GBP61.2 million pretax loss in the financial year that ended January 31, narrowed from a GBP300.9 million loss the year before. However, on an underlying basis, profit fell by 84% to GBP17.1 million from GBP109.9 million, amid Covid-19 restrictions. Revenue fell by 58% to GBP337.6 million from GBP797.3 million. "The market has responded well to some pretty bleak results from Saga, and we suspect that's because the light at the end of the tunnel seems to grow a little brighter every time we hear from the group," note analysts at Hargreaves Lansdown.
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VP, up 4.7% at 900.00p, 12-month range 604p-900p. The equipment rental firm says trading since early December is in line with expectations. Vp says revenue recovers to 95% of pre-Covid-19 levels.
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Marston's, up 3.2% at 102.42p, 12-month range 28.34p-104.21p. The pub operator says it expects to open the majority of its managed and franchised pubs in England with outdoor spaces from the start of next week, as part of the UK government's roadmap out of lockdown. On or around this coming Monday, the firm expects to reopen around 70%, or 700, pubs in England with outdoor spaces, and the majority of its Scottish and Welsh pubs in April, subject to final regulatory confirmation.
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Deliveroo Holdings, up 2.5% at 286.93p, but still down 26% from the initial public offering price of 390p. Shares in the food delivery company began unconditional dealings on Wednesday, following a disappointing stock market debut last week. Retail investors are now able to trade Deliveroo shares, following conditional trading that was limited to institutional investors. Deliveroo received a cold reception from the market last week amid concerns over its lofty valuation, workers rights, and a dual-class share structure.
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SMALL-CAP - LOSERS
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Pharos Energy, down 3.3% at 23.65p, 12-month range 10.44p-25.90p. Th oil and gas company posts a swing to a loss and a drop in revenue in 2020 as low oil prices hit the exploration and production company. The company swung to a pretax loss of USD241.2 million, after a pretax profit of USD11.7 million in 2019. Revenue fell 25% to USD142.0 million from USD189.7 million.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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