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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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TheWorks.co.uk PLC, up 42% at 41.10 pence, 12-month range 26.10p-69.30p. The arts and crafts retailer reports an annual revenue hike and a swing to profit. It has started its new financial year in decent fashion. Revenue in the financial year that ended May 1 rises 47% to GBP264.6 million from GBP180.7 million. TheWorks swings to a pretax profit of GBP10.2 million from a GBP2.8 million loss. In the first seven weeks of its new financial year, total like-for-like sales are 5.7% higher.
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SMALL-CAP - LOSERS
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Enquest PLC, down 4.2% at 27.10p, 12-month range 16.90p-37.35p. The oil and gas producer in the UK North Sea and Malaysia tracks Brent prices lower. A barrel of the North Sea benchmark fetched USD88.55 on Friday morning London time, down from USD90.24 at the London equities close on Thursday.
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Made.com Group PLC, down 22% at 4.51p, 12-month range 3.64p-165.00p. The sofa seller put itself up for sale and announced a formal review of its strategic options, as it grapples with tumbling demand amid cost-of-living pressures. Made.com explained that "costs must be reduced further", and it will conduct a headcount review. The Financial Times on Thursday reported Made plans to lay-off more than a third of its workforce. The wider strategic review will mull its balance sheet options, which include debt finance, strategic investment or even a sale of the company. The stock fell to this 12-month low on Friday. It floated at 200p per share back in June of last year, so has lost around 98% since then.
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By Eric Cunha; ericcunha@alliancenews.com
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