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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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Motorpoint Group PLC, up 5.7% at 107.78 pence, 12-month range 95.00p-205.00p. The automotive retailer says that "difficult" macroeconomic conditions continued into the first quarter of the company's financial year ended March 31, 2024. However, Motorpoint says that it had a net cash position of GBP2.2 million at June 30, with further facility headroom of GBP35 million available, driven by its continued focus on working capital management and reduced capital spend. It adds that it took decisive action to lower the required breakeven volume of the company to a level which maintains cash generative trading.
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Marston's PLC, up 3.1% at 32.85 pence, 12-month range 26.80p-50.50p. The pub operator says like-for-like sales in the 42 week period ended July 22 were up 11% compared to the same period in financial 2022. Both drink sales and food sales have been strong, it says, demonstrating the "steadfast trading resilience" of its predominantly community pub estate. Like-for-like sales in the 16 weeks to July 22 was up 11% annually, reflecting the warmer weather in June. "Marston's has delivered another strong trading performance, validating the strategy we are implementing and demonstrating the appeal of our pubs. We are making good progress and are beginning to see the benefits of the actions we have taken in H1, simplifying our trading formats and repositioning our pub portfolio, as well as the investments we have made in our pub gardens and outside trading areas," says CEO Andrew Andrea.
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SMALL-CAP - LOSERS
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Helical PLC, down 5.0% at 262.68p, 12-month range 231.15p-412.00p. The London-focused property investment and development firm continues to make losses after a slow start to 2023. In the year-to-date the stock is down 21%. Helical's dividend payment date is Friday.
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By Sophie Rose, Alliance News reporter
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