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Share Price: 86.20
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Change: -1.00 (-1.15%)
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SMALL-CAP WINNERS & LOSERS: Rank down as Grosvenor venues struggle

Fri, 16th Dec 2022 10:11

(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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Hollywood Bowl Group PLC, up 3.5% at 237.58 pence, 12-month range 161.40p - 294.50p. Reports a double-digit rise in revenue and profit multiplied. In the financial year that ended September 30, the bowling centre operator posts record revenue of GBP193.7 million, up 49% from GBP129.9 million the previous year. Pretax profit soars to GBP46.7 million from just GBP462,000 a year prior. This figure also is ahead of financial 2019, its last year of uninterrupted trading before the Covid-19 pandemic. The company explains that it had seen considerable growth across all its revenue lines thanks to increases in footfall and spend, as well as an increase in game volumes. Hollywood Bowl says it has continued this momentum into the start of its current financial year, noting strong demand an "encouraging" pre-bookings for the Christmas period.

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JPMorgan Asia Growth & Income PLC, up 3.1% at 361.80 pence, 12-month range 294.50p - 454.77p. Net asset value per share at September 30 falls to 370.60p, from 460.70p at the same time the previous year. NAV total return in the financial year that ended September 30 was negative 16%, underperforming its comparator benchmark MSCI AC Asia ex Japan Index total return of negative 14%. Chair Bronwyn Curtis says rising price pressures and mounting fears of recession weighed on Asian financial market sentiment during the financial year.

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SMALL-CAP - LOSERS

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Rank Group PLC, down 9.3% at 72.80 pence, 12-month range 52.40p - 170.40p. Says in the five months ended November 30, like-for-like net gaming revenue was up just 1% compared to the same period last year, due to a decline at its Grosvenor venues. The gambling firm explains that whilst there has been some improvement in Grosvenor's trading over the last few weeks, trading in its second quarter has been weaker than expected, with weekly average net gaming revenue of GBP5.8 million. "We had expected Grosvenor venues to have continued to improve throughout Q2 and then into the second half of the year, but this improvement has not yet materialised, driven by lower customer spend per visit," Rank says.

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EnQuest PLC, down 6.4% at 21.10 pence, 12-month range 16.90p - 37.35p. Bofa cuts the oil and gas production company to 'neutral' from 'buy' with a price target of 25p.

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By Heather Rydings, Alliance News senior economics reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2022 Alliance News Ltd. All Rights Reserved.

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LONDON MARKET MIDDAY: Poor economic data weighs on stocks and sterling

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Rank net gaming revenue falls; expects operating profit to plummet

(Alliance News) - Rank Group PLC on Friday said that for the five months ended November 30, like-for-like net gaming revenue was up just 1% compared to the same period last year, due to a decline at its Grosvenor venues.

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Rank warns on profits as cash-strapped UK punters retrench

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Rank Group issues second profit warning

(Sharecast News) - Gambling company Rank Group issued its second profit warning on Friday despite seeing "some improvement" in trading over the last few weeks as the ongoing cost of living crisis continued to weigh on its Grosvenor casinos wing.

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