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SMALL-CAP WINNERS & LOSERS: Card Factory plunges after profit warning

Thu, 13th Jan 2022 10:56

(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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Petrofac Ltd, up 6.4% at 143.42 pence, 12-month range 90.66p-203.34p. Kepler Cheuvreux upgrades the oilfield services provider to Buy from Hold.

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Xaar PLC, up 4.4% at 186.40p, 12-month range 108.44p-260.00p. The inkjet technology developer says it ended 2021 strongly with further operational and strategic progress. Revenue for 2021 is expected to be GBP59 million, representing an increase of 23% from 2020.

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Mears Group PLC, up 1.6% at 203.20p, 12-month range 144.50p-228.00p. Jefferies raises the housing and social care provider to Buy from Hold.

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SMALL-CAP - LOSERS

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Card Factory PLC, down 14% at 54.20p, 12-month range 30.50p-97.83p. The greeting cards retailer says trading for financial 2022 was ahead of the board's expectations with performance recovering from April 2021 onward, as Covid-related restrictions eased. However, looking ahead Card Factory warns earnings before interest, tax, depreciation, and amortisation margins look set to take a hit due to inflationary pressures and as such, 2023 profit will come in lower than previously expected.

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By Arvind Bhunjun; arvindbhunjun@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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