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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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Luceco PLC, up 2.8% at 391.50 pence, 12-month range 125p-451.5p. The LED lighting products supplier says it now expects to report revenue for the six months to June 30 of GBP108 million and adjusted operating profit of GBP19 million, versus previous guidance of GBP105 million and GBP18 million, respectively. The half-year revenue is 51% higher year-on-year and up 31% year-on-two-years. For the full year, the company now expects revenue of at least GBP220 million and adjusted operating profit of at least GBP39 million, up 25% and 30%, respectively, year-on-year and ahead of current market expectations.
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SMALL-CAP - LOSERS
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Renold PLC, down 3.1% at 22.54p, 12-month range 8.1p-29.90p. The supplier of industrial chains and related power transmission products reports a resilient performance in its recently ended financial year, as pretax profit increased despite the challenges caused by the Covid-19 pandemic. Pretax profit for the financial year that ended March 31 was GBP5.9 million, up 20% from GBP4.9 million. The higher profit was achieved despite revenue falling by 13% to GBP165.3 million from GBP189.4 million, as restructuring charges weren't repeated. Given the volatile operating environment created by the virus pandemic and its impact on market demand, Renold said it has decided against paying a dividend for the recent year. It also had paid no dividend for financial 2020. The dividend will remain under active review for future periods, the company said.
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By Evelina Grecenko; evelinagrecenko@alliancenews.com
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