(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 20% at 66.58 pence, 12-month range 37.22p-99.9p. The online electricals retailer raises annual earnings guidance for the year to March, saying its measures to reduce costs and improve margins have seen traction. It also notes a "continued resilient underlying customer base" which drove higher retail gross margins than anticipated, which it expects to continue for the remaining weeks of its financial year. It expects adjusted earnings before interest, tax, depreciation and amortisation to be in a range of GBP37.5 million to GBP45 million, which is up from the previous guidance range of GBP30 million to GBP40 million.
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AIM - LOSERS
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XP Power Ltd, down 6.3% at 2,296.46p, 12-month range 1,402p-4,400p. The Singapore-based maker of power controllers swings to annual pretax loss of GBP30.2 million in 2022 from profit of GBP28.4 million a year before. This was due to higher costs notably administrative and research & development. Annual revenue grows to GBP290.4 million from GBP240.3 million. Additionally, the firm loses its Chief Financial Officer Oskar Zahn, who leaves for WAG Payment Solutions PLC. Finance director David Stibbs becomes interim CFO while XP searches for a permanent replacement.
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Kin & Carta PLC, down 1.8% at 117.2p, 12-month range 112.8p-293p. The stock hits another 12-month low, having lost 39% of its value over the past week. On Friday, the business consultancy cut its full-year expectations, due to the effects of macro headwinds which have made clients more cautious, and elongated sales cycles. For its full year, it expects net revenue growth of 8% to 12%, but organic net revenue at constant currency to decline.
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By Elizabeth Winter, Alliance News senior markets reporter
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Xp Power (XPP)
Ao World (AO.)
Wag Payment (WPS)