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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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Saga PLC, up 7.6% at 158 pence, 12-month range 103.6p-198.4p. Saga responds to media reports about the firm considering a sale of a stake in its cruise arm. Late Thursday, Sky News reported the over-50s travel and insurance firm was considering outsourcing the operation of its two ocean cruise ships, among other options. Saga says it is "exploring opportunities to optimise Saga's operational and strategic position in Cruise" and has "concluded that a partnership arrangement for Ocean Cruise would be consistent with group strategy to move to a capital-light business model". However, it says no decision had been made yet, and there was no certainty of any partnership agreement.
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Wickes Group PLC, up 6.6% at 154.50p, 12-month range 116.39p-159.3p. The building supplies retailer says adjusted profit for 2023 will be at the top end of market expectations, despite a slight slip in like-for-like sales. Adjusted pretax profit in the 52 weeks that ended December 30 is expected to be at the upper end of the market consensus range, which it put at GBP44.9 million to GBP48.3 million. This will be down from GBP75.4 million in 2022. Like-for-like sales are down 0.3% in 2023 from 2022, Wickes says, but the company says it exercised strong cost and stock control. Total group like-for-like sales are down 2.6% in the fourth quarter. Chief Executive David Wood calls the 2023 sales results "robust" in the face of a "challenging market backdrop".
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SMALL-CAP - LOSERS
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Superdry PLC, down 1.9% at 16.56p, 12-month range 14.26p-158.8p. The clothing retailer says over the 26 weeks to October 28, revenue falls 24% on-year to GBP219.8 million from GBP287.2 million. This stems from the "challenging" consumer retail market, unseasonal weather, and an underperformance in its Wholesale segment. It swings to a pretax profit of GBP3.3 million from a loss of GBP17.7 million on a statutory basis, but its adjusted pretax loss widens to GBP25.3 million from GBP13.6 million. The statutory figure receives a boost from the sale of its intellectual property in the Asia Pacific region, which is partially offset by a non-cash impairment of GBP10.2 million. "Milder weather and heavy discounting across the sector impacted Christmas trading and, consistent with our December update, we expect full year results to reflect the more challenging environment seen to-date," Superdry warns.
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By Elizabeth Winter, Alliance News deputy news editor
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