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(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Tuesday.
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SMALL-CAP - WINNERS
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AO World PLC, up 14% at 59.51 pence, 12-month range 37.22p-130.9p. Shares in the electrical appliance retailer claw back lost ground over the past year, as it guides towards annual adjusted earnings before interest, tax, depreciation and amortisation at the top end of its GBP20 million to GBP30 million range. It also notes that the cash costs of closing its German business are expected to be "around zero" compared to an original estimate of GBP15 million. This comes despite its pretax loss widening to GBP12 million in the six months that ended September 30 from GBP4 million a year before. Revenue fell 17% to GBP546 million from GBP661 million.
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Sabre Insurance Group PLC, up 3.5% at 99.4p, 12-month range 81.9p-237.44p. Barclays raises the price target for the motor insurance provider's stock to 154p from 147p. It holds Sabre at an 'overweight' rating.
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SMALL-CAP - LOSERS
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Trifast PLC, down 10% at 52p, 12-month range 51p-165.5p. The fastenings company says that in the half-year ended September 30, pretax profit plunged 43% to GBP3.0 million, compared to GBP5.3 million a year prior. The firm blames various factors, including weaker gross margins, higher tax rates, and the spend on Project Atlas. On a more positive note, revenue rose 16% to GBP120.2 million from GBP103.8 million, and interim dividends are up 7.1% to 0.75p.
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Carrs Group PLC, down 5.5% to 107p, 12-month range 89.5p-161.5p. The agriculture machinery distributor and engineering firm says it will delay the publication of its audited results for the year ended September 3, 2022. This is because Grant Thornton, the firm's new auditor, needs to undertake a separate audit of Carrs Billington Agriculture Operations Ltd. This is expected to be completed in mid-January, which will miss the January 3 deadline of the Financial Conduct Authority. As a result, Carrs will ask for trading in its shares to be suspended from January 4. It says trading in the current financial year is going well, meeting its expectations, and gaining ground on the prior year.
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By Elizabeth Winter; elizabethwinter@alliancenews.com
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