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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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On the Beach Group PLC, up 15% at 119.17 pence, 12-month range 81.24p-192.19p. The beach holiday retailer says that in its financial year ending September 30, it will deliver "record" revenue and total transaction value. TTV will be GBP1.1 billion, up 26%. Adjusted earnings will be in line with market expectations. "We continue to leverage the benefits of the investments we have made in our proprietary technology platform, brand and proposition and I am pleased to see that this has driven growth in both the top and bottom lines during the second half of the year as planned. Alongside access to greater seat and bed capacity, this has resulted in our most successful summer, sending more passengers on their holidays than ever before," says CEO Shaun Morton.
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Pharos Energy PLC, up 4.1% at 23.10 pence, 12-month range 17.74p-28.70p. The oil and gas exploration and production company reports that in the six months ended June 30 revenue falls to USD86.2 million from USD112.3 million a year earlier. Pretax profit falls to USD5.3 million from USD98.2 million. Looking ahead, Pharos updates its 2023 full-year working interest production guidance to 6,350 to 6,750 barrel of oil equivalent per day net from 6,050 - 7,500 boepd net. "The company continues to focus on delivering returns to shareholders through our commitment to a regular dividend, our ongoing share buybacks, and by driving value throughout the portfolio to grow the business," CEO Jann Brown says.
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SMALL-CAP - LOSERS
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Tullow Oil PLC, down 9.6% at 34.08p, 12-month range 21.82p-51.50p. The oil and gas producer says revenue in the six months ended June 30 falls to USD777 million from USD859 million a year earlier. Pretax profit more than halves to USD217.2 million from USD560.5 million. Looking ahead, Tullow Oil lowers its full-year oil production guidance to 58,000 to 60,000 barrels of oil per day, from 58,000 to 64,000. "We are at an important inflection point in the evolution of our business plan. For the last two and a half years we have relentlessly focused on capital discipline, operational performance and appropriate investment in our assets," says CEO Rahul Dhir.
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By Sophie Rose, Alliance News reporter
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