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Pin to quick picksRobert Walters Share News (RWA)

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Share Price: 413.00
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SMALL-CAP WINNERS & LOSERS: Motorpoint expects revenue to rise 9.1%

Thu, 06th Apr 2023 09:37

(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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De La Rue, up 2.9% at 48.86 pence, 12-month range 46.79p-118.8p. The bank note printer appoints Charles Andrews as interim chief financial officer. This follows the resignation of Rob Harding in January, who left to become CFO at PayPoint PLC. Most recently, Andrews was senior vice president Airframe at Meggitt PLC, and has held senior finance roles at Ingram Micro Inc and GSK. The stock has come under pressure in recent months, as a major shareholder, Crystal Amber Fund Ltd, has called for the removal of Chair Kevin Loosemore and publicly cited various failings of the company.

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Motorpoint Group PLC, up 2.7% at 134.5p, 12-month range 125.61p-276.01p. The second-hand car retailer says it expects to report revenue of GBP1.44 billion for the year ended on March 31, up 9.1% from GBP1.32 billion the year before, due to "vehicle mix and price inflation". Pretax profit is expected to be broadly break-even. Pretax profit was GBP21.5 million in financial 2022. The company adds that market share for 0-4 year vehicles in 2022 grew to 3.5% from 2.7% in 2021.

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SMALL-CAP - LOSERS

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Robert Walters PLC, down 1.4% at 432p, 12-month range 418.08p-750p. The recruitment firm reports a "slower start" to 2023. Net fee income in the first quarter rose 4% year-on-year to GBP102.4 million. It grew 16% in Europe and 18% in Other International, helping to offset a 9% decline in the UK and a 1% fall in Asia Pacific. However, on a constant currency basis, net fee income was flat. "Uncertain global macroeconomic conditions continued to impact recruitment activity levels across a number of the group's markets and disciplines," the firm said. Robert Walters points to the "relatively robust" market fundamentals such as vacancy levels and salary inflation, as well as a global shortage of qualified professionals. It expects the rebound in the Chinese economy, easing inflation and the stabilisation of the technology sector to boost the global outlook.

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Tyman PLC, down 2.2% at 227p, 12-month range 182.4p-327.5p. The supplier of door and window components says Jo Hallas will be stepping down as the company's chief executive officer and director, effective immediately. Chief Financial Officer Jason Ashton, will take on the position of interim CEO immediately until a permanent replacement is found. Tyman says Hallas will remain available to the company over the next 12 months to "ensure an orderly handover."

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MJ Gleeson PLC, down 1.5% at 429.59p, 12-month range 331p-643.18p. The Sheffield, England-based housebuilder and land investor falls as Halifax data shows a slowdown in UK house price growth. Annual growth in UK house prices weakened to levels not seen since October 2019, Halifax data showed. According to the mortgage lender, average house prices edged up 0.8% in March on a monthly basis. Growth slowed from a 1.2% climb in February. Annually, growth in house prices slowed to 1.6% in March, from the 2.1% climb seen in each of the previous three months.

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By Elizabeth Winter, Alliance News senior markets reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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