(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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Capital Ltd, up 5.7% at 88.80 pence, 12-month range 75p-108p. Its MSALABS business expands global partnership with mining technology solutions provider Chrysos Corp. The partnership will see MSALABS deploy 21 Chrysos PhotonAssay units across the globe by 2025.
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Hunting PLC, up 3.4% at 194.00p, 12-month range 142.80p-356.50p. Berenberg raises the energy services company to 'buy' from 'hold'.
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Xaar PLC, up 1.6% at 190.00p, 12-month range 141.00p-275.00p. The inkjet printing technology company expects interim revenue to jump, leaving the firm on track to meet annual forecasts. For the six months ended June 30, the Cambridge, England-based company says revenue is expected to be around GBP37 million, representing an increase of 41% compared to GBP26.3 million the year before.
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SMALL-CAP - LOSERS
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Sabre Insurance Group PLC, down 33% at 126.20p, 12-month range 114.40p-276.00p. Shares hit 12-month low after insurer warns inflation will have a bigger effect on the underwriting margins of its core Motor book than it had previously assumed. For the six months to June 30, pretax profit slumps 81% to GBP4.3 million from GBP22.2 million a year ago. While gross written premiums increased 17% to GBP91.8 million from GBP78.2 million, the net loss ratio widened to 72% from 45%, and the combined operating ratio worsened to 99% from 74%. Any combined ratio below 100% indicates underwriting profit, so the lower the better. Looking ahead, Sabre expects to achieve a range of between 75% and 80% in 2024. Sabre still expects to pay a dividend for 2022, but one "at a reduced level", before returning to "more normal" levels in 2023.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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Hunting (HTG)
Sabre Insur (SBRE)
Capital (CAPD)
Xaar (XAR)