SMALL-CAP WINNERS & LOSERS: No respite for Cineworld; Lookers rises

(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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Lookers PLC, up 7.7% at 80.8 pence, 12-month range 53.59p-102p. The car dealer reports a strong first half despite supply chain issues. Revenue for the six months to June 30 up 3.6% to GBP2.23 billion from GBP2.15 billion a year before, driven by increases in used vehicles and aftersales. Pretax profit slips marginally to GBP49.9 million versus GBP50.4 million. The company resumes its interim dividend at 1.00p, having not paid out anything a year before. Lookers last paid an interim dividend for the first half of 2019. It resumed final dividend payments alongside its results for 2021.

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SMALL-CAP - LOSERS

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Allied Minds, down 41% at 11.08p, 12-month range 9.37p-26p. Falling after saying it will consult with shareholders over a possible share delisting from London following a strategic review. Under the review, the board weighed up the costs of its listing in London and decided it is "prohibitively high" relative to the company's size. Allied Minds says it judged that maintaining a public listing is "no longer in the best interests" of the company and its shareholders. "The Allied Minds board therefore now intends to formally consult with shareholders regarding a possible delisting of the company," the Boston, US-based firm says.

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Cineworld Group PLC, down 10% at 2.70 pence, 12-month range 1.8p-85.16p. Another leg lower for the cinema chain's shares, with the stock now down 92% since the start of 2022. The Picturehouse cinema operator on Monday warned it is considering filing for Chapter 11 bankruptcy in the US, as it continues to battle with liquidity issues.This was after last week saying recent cinema admission levels have been below expectations.

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By Lucy Heming; lucyheming@alliancenews.com

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