(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Friday.
----------
SMALL-CAP - WINNERS
----------
Trustpilot Group PLC, up 1.7% at 99.6 pence, 12-month range 51.85p-172.7p. The Copenhagen-based online review platform says that Non-Executive Director & Chair Designate Zillah Byng-Thorne will succeed Tim Weller as chair of the company from April 3. The firm hired Byng-Thorne as deputy chair and a non-executive director in September. Byng-Thorne was previously CEO of Future since April 2014. She was originally appointed as finance chief in 2013 when Future had a market capitalisation of just GBP30 million. Trustpilot also says that Weller will remain as a non-executive director of the company to "ensure a smooth handover of duties." He will not seek re-election as a director of the company at the annual general meeting, which is currently scheduled for May 23.
----------
Trifast PLC, up 4.9% at 65.2p, 12-month range 46.70p-140.50p. The industrial fastenings firm claws back some lost ground after a bruising week, which has seen its share price fall 30%. On Monday, Trifast said it expects annual profit and revenue to be below market expectations, and announced the immediate resignation of its chief executive officer. Trifast said tough economic conditions have meant it has suffered "some volatility in demand patterns". It has been hurt by a "significant destocking" from an Asian manufacturer, offsetting efforts to boost its operating margin.
----------
SMALL-CAP - LOSERS
----------
Kin & Carta PLC, down 29% at 132.8p, 12-month range 131.2p-293p. The London-based business consultancy cut expectations for its financial year, due to the effects of macro headwinds which have made clients more cautious, and elongated sales cycles. Says like-for-like organic revenue at constant currency was down 6% in the first half to January 31 from a year before. Net revenue rises 15% to GBP98.8 million on a reported basis. For its full year, it expects new revenue growth of 8% to 12%, but organic net revenue at constant currency to decline. "Despite macro headwinds tempering short-term growth across the industry, ...the measures that we are currently implementing in the business give me confidence that we are continuing to build a firm platform for future growth," says CEO Kelly Manthey.
----------
By Elizabeth Winter, Alliance News senior markets reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Trifast (TRI)
Trustpilot (TRST)