(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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Forterra PLC, up 3.7% at 213.00 pence, 12-month range 182.6p-301p. The Northampton, England-based building product manufacturer expects 2022 results to be ahead of management's expectations. Predicts full year revenue of around GBP450 million, up around 21% from GBP370.4 million a year earlier. Expects to issue results on March 9. Looking ahead, Chief Executive Stephen Harrison says: "There is considerable uncertainty as to the outlook for the UK housing market and accordingly, demand for our products in the coming year. We did see signs of softening demand towards the end of 2022 and we are waiting to see how our customers' spring new house selling season develops as the outcome of this is likely to be a key determinant of demand for our products during 2023."
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Pendragon PLC, up 3.3% at 20.25p, 12-month range 17.52p-29p. The car dealer says financial performance in the fourth quarter of 2022 was slightly ahead of the board's expectations. It notes that trading during the quarter was underpinned by strong volume growth in new cars. Expected underlying pretax profit to be around GBP57 million, down from GBP83.0 million a year earlier, but ahead of market expectations. Plans to publish its full-year results on March 22.
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SMALL-CAP - LOSERS
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XP Power Ltd, down 3.0% at 2,600.00p, 12-month range 1,402p-5,087.44p. Shares in the Singapore-based maker of power controllers surrender some gains after a 25% advance so far in 2023.
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By Sophie Rose, Alliance News reporter
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Forterra (FORT)
Xp Power (XPP)