(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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Kier Group PLC, up 5.0% at 88.38 pence, 12-month range 56p-88.5p. The infrastructure services, construction and property firm says revenue and profit in the financial year ended June 30 will be in line with expectations. Says order book continues to be above GBP10 billion. Says outlook reflects strong operational performance despite inflationary pressures. "The company remains confident it can continue to mitigate these pressures going forward," it says. Also notes positive adjusted operating cash flow for financial 2023, which is likely to be "significantly above" the board's previous expectations.
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Fuller, Smith & Turner PLC, up 3.5% at 600p, 12-month range 410.31p-660.0p. The UK pub and hotel chain shares "strong progress" in the first 15 weeks of the financial year, with total sales rising 17% year-on-year, and like-for-like sales up 15%. "Increased tourism and events, along with workers returning to their offices, have contributed to like for like sales growth of 17.9% in our City and Central London sites," it says. After the strong start, decides to begin share buyback of up to one million A shares.
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SMALL-CAP - LOSERS
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Lookers PLC, down 15% at 101.8p, 12-month range 59.7p-120.4p. The agreed takeover offer for the car dealer by a Canadian peer is declared dead in the water, as Lookers' largest shareholder withdraws the letter of intent it had given to bidder Global Auto Holdings Ltd. Global Auto is the bidding vehicle of Alpha Auto Group Holdings LP, a Toronto-based operator of auto retail dealerships across North America. Last month, it had offered to pay 120p per share for Lookers, which is based outside of Manchester. Cinch Holdco UK Ltd withdrew its letter of intent to accept the offer for its stake of just over 19% in Lookers and now intends to vote against the acquisition, Lookers says. The firm confirms that the takeover resolutions are now "not capable of being passed" at the court and general meetings scheduled for next Thursday.
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By Elizabeth Winter, Alliance News senior markets reporter
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Fuller Smith & Turner (FSTA)
Kier (KIE)