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Pin to quick picksReach Plc Share News (RCH)

Share Price Information for Reach Plc (RCH)

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Share Price: 79.60
Bid: 79.20
Ask: 79.60
Change: 0.80 (1.02%)
Spread: 0.40 (0.505%)
Open: 78.20
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Low: 78.00
Prev. Close: 78.80
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SMALL-CAP WINNERS & LOSERS: Halfords on fast track as bike sales surge

Mon, 01st Mar 2021 11:08

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.

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SMALL-CAP - WINNERS

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Halfords Group, up 19% at 345 pence, 12-month range 49.58p-352p. The car parts and bicycle retailer says trading has been "volatile" but stronger than expected as it guides to a sharp jump in annual profit. Cycling like-for-like sales in the period were up 43%. Halfords expects full-year underlying pretax profit to be around GBP90 million to GBP100 million, even after deciding to repay in full GBP10.7 million of furlough income received. For the financial year that ended April 3, 2020, underlying pretax profit amounted to GBP55.9 million.

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McColl's Retail Group, up 9.0% at 25.94p, 12-month range 14.26p-56p. The convenience store operator extended its partnership with blue-chip grocer Wm Morrison Supermarkets. In addition, Peel Hunt raised the stock to Buy from Hold. Morrisons was up 0.9%.

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Restaurant Group, up 9.0% at 118.65p, 12-month range 20.26p-119.71p. The Frankie & Benny's and Wagamama chains owner says it has signed commitments for GBP500 million of new debt facilities, consisting of GBP380 million term loan facility to 2026 and GBP120 million super senior revolving credit facility to 2025.

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Macfarlane Group, up 8.8% at 99.87p, 12-month range 61p-100p. The packaging and label company says it has acquired Wiltshire-based protective packaging manufacturing and distribution business GWP Holdings for GBP15.1 million.

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Speedy Hire, up 6.3% at 68p, 12-month range 34.6p-79.8p. The equipment rental firm says it has sold its equipment fleet, stock and other fixed assets relating to its Middle East business to ADNOC Logistics, for USD18 million. Notes trading since September 30 has been ahead of the board's expectations. Revenue has improved as activity levels have continued to increase and annual pretax profit is anticipated to be well ahead of current market expectations.

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SMALL-CAP - LOSERS

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Reach, down 1.2% at 236.50p, 12-month range 47.95p-246p. The newspaper publisher posts 2020 revenue of GBP600.2 million, down 15%. Digital revenue was up 11% but print was down 19%. Reach barely stayed in profit at the pretax level, reporting GBP400,000 in profit after GBP130.9 million exceptional items, down from GBP120.9 million in 2019. Reach will pay a 2020 dividend of 4.26p, up from 2.50p in 2019, after the 2019 final dividend was withheld due to Covid-19. Reach said current trading is in line with expectations.

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By Arvind Bhunjun; arvindbhunjun@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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