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(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Friday.
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SMALL-CAP - WINNERS
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DFS Furniture PLC, up 6.4% at 132.4 pence, 12-month range 101-287.33p. The soft furnishings retailer says it has seen a more positive trend in consumer spending since early September, with group order volumes growing relative to the 2022 financial year. The company adds that it has seen continued evidence of positive market share gains, and consequently expects overall pretax profit of GBP36 million for the current financial year 2023 ending in late June, in line with its mid-case scenario for the full year. The retailer also notes the impact of "industry-wide Covid-related supply chain issues, double-digit cost inflation on raw materials and ongoing colleague absence and skill shortages". Looking ahead, DFS expects profits to be weighted towards the second-half, given its current order intake profile.
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Reach PLC, up 2.8% at 106.62p, 12-month range 64.4p-344.22p. The Daily Mirror owner catches the eye of National World for a potential takeover offer. National World, a newspaper industry investor and owner of JPIMedia Publishing, late on Thursday said it is in the "early stages of exploring a possible offer" for Reach. National World says it has not yet approached Reach's board. In response, Reach said: "The board of Reach confirms that it has not received an approach from National World. The board will issue a further statement if and when appropriate. In the meantime, Reach shareholders are strongly advised to take no action."
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SMALL-CAP - LOSERS
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AVI Japan Opportunities Trust PLC, down 2.9% at 105.12p, 12-month range 101-126p. The Japan-focused investor falls as Tokyo's Nikkei 225 index loses 1.7%, as traders played catch-up with Thursday's losses after returning from a one-day holiday.
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By Elizabeth Winter; elizabethwinter@alliancenews.com
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