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(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.
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SMALL-CAP - WINNERS
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Carr's Group PLC, up 11% at 148.72 pence, 12-month range 92p-160p. The agriculture and engineering firm reinstates dividend and points to a positive outlook. For the half year ended February 27, revenue rises by 0.7% to GBP201.4 million from GBP200 million a year before, but pretax profit falls by 3.2% to GBP10.2 million from GBP10.5 million. Carr's declares dividend of 1.175p from none paid a year prior. Looking ahead, company says: "A continued positive performance is forecast across the Agricultural divisions together with an improved second half in the Engineering division as the impact of COVID-19 begins to recede and its order intake continues to increase."
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Pendragon PLC, up 3.5% at 20.07p, 12-month range 6.35p-21.34p. The car dealer swings back into profit for the first quarter to March 31. Pendragon posts underlying pretax profit of GBP10.8 million from GBP2.3 million loss in first quarter of 2020. Pendragon remains cautiously optimistic about outlook.
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Spire Healthcare Group PLC, up 2.2% at 187.55p, 12-month range 72.6p-187.62p. Barclays raises price target on private healthcare provider to 165p from 100p.
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SMALL-CAP - LOSERS
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Kier Group PLC, down 4.0% at 90.5p, 12-month range 42.05p-111.13p. The construction firm reports fall in interim profit and plans equity raise. For half year to December 31, revenue falls 13% to GBP1.62 billion from GBP1.87 billion last year and pretax profit down 9.4% to GBP27.8 million from GBP30.7 million. Proposes equity raise in the range of GBP190 million to GBP240 million. "The proposed equity raise, which we plan to launch in the coming weeks, subject to market conditions, together with the continued support of our lending group, will further strengthen the group's balance sheet by reducing net debt and will facilitate investment in the business to help drive sustainable, profitable organic growth and the achievement of our medium term financial targets," says Chief Executive Officer Andrew Davies.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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