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Share Price: 86.20
Bid: 86.60
Ask: 88.80
Change: -1.00 (-1.15%)
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Open: 86.00
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SMALL-CAP WINNERS & LOSERS: Cineworld recovers; Made.com slides

Thu, 18th Aug 2022 10:19

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

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SMALL-CAP - WINNERS

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Cineworld Group PLC, up 24% at 10.19 pence, 12-month range 7.77p-85.16p. The Picturehouse operator recovers some of its 60% share price slide from Wednesday. Cineworld on Wednesday said the number of film goers has been "below expectations" recently. Cineworld said it is in "active discussions with various stakeholders" to mull ways to bolster its coffers and possibly restructure its balance sheet, though a "comprehensive deleveraging transaction". It cautioned that any deleveraging is likely to dilute the value of its shares.

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AO World PLC, up 12% at 45.13 pence, 12-month range 38.52p-250.00p. AO World reports weaker annual earnings but is looking forward to a year "realignment". For the year ending March 2023, adjusted earnings before interest, tax, depreciation and amortisation are expected around GBP20 million to GBP30 million - which would be up significantly on the 2022 financial year. In addition, Jefferies raised the electrical goods retailer to 'buy'.

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SMALL-CAP - LOSERS

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Rank Group PLC, down 2.3% at 85.94 pence, 12-month range 78.10p-187.80p. Rank swings to pretax profit of GBP74.3 million for the year to June 30, from a GBP107.3 million loss. Revenue surges 95% to GBP644.0 million from GBP329.6 million, amid an easier, Covid-19-hit comparative. There are tricky times ahead for the gambling company, however, as the Grosvenor casino chain owner warns of "inflationary pressures squeezing consumer discretionary expenditure and cost increases".

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Made.com Group PLC, down 11% at 8.80p, 12-month range 7.75p-180.00p. The furniture retailer is "considering all options" to bolster its balance sheet. Made.com says on Thursday: "Made confirms that these options include a potential equity capital raise. Made continues to consider its options and a further announcement will be made if and when appropriate." Late Wednesday, Sky News reported the sofa seller has hired PricewaterhouseCoopers to help with repairing its balance sheet, including plans for a share sale to raise around GBP50 million.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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