(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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AO World PLC, up 4.7% at 85.5 pence, 12-month range 50.1p-101.8p. The electrical retailer adds to Tuesday's gains, after raising annual profit guidance amid a swing to interim profit. It now expects pretax profit between GBP28 million and GBP33 million in financial 2024, which would be a multiple of GBP8 million in financial 2023. It had expected GBP28 million previously. Revenue in the six months to September 30 declined 12% on-year to GBP481.7 million from GBP546.3 million. However, it swung to a pretax profit of GBP13 million from a loss of GBP12 million.
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SMALL-CAP - LOSERS
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Speedy Hire PLC, down 6.5% at 33.42p, 12-month range 26p-43.45p. The tool and equipment hire services firm says it expects its annual results to be at the lower end of its previous expectations, as it reports a sharp drop in interim profit. In the six months to September 30, revenue slips 2.9% to GBP208.5 million from GBP214.8 million, and pretax profit plunges 58% to GBP5.6 million from GBP13.2 million. "As in prior years, the group expects a second half weighting to its revenues and profits, as the winter programmes commence and new contracts fully mobilise in the period, including those communicated at year end," Chief Executive Dan Evans says.
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TT Electronics PLC, down 7.0% at 150.36p, 12-month range 140.85p-212.03p. The electronic components maker expects adjusted pretax profit for 2023 to be at the lower end of a market consensus range. It cites the range as GBP43.1 million to GBP46.0 million, having achieved GBP40.4 million in 2022. TT blames a machinery breakdown in one of its Sensors & Specialist Components facilities. The breakdown persisted for longer than expected and hit third-quarter profit by around GBP2 million. Says order intake has normalised over the second half as lead times reduced, but visibility remains "above historic levels".
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By Elizabeth Winter, Alliance News deputy news editor
Comments and questions to newsroom@alliancenews.com
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Ao World (AO.)
Tt Electronics (TTG)
Speedy Hire (SDY)