SMALL-CAP WINNERS & LOSERS: TT Electronics expects further profit fall

Mon, 30th Jun 2025 10:33

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.

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SMALL-CAP - WINNERS

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Serica Energy, up 5.4% at 160.60 pence, 12-month range 110.40p-188.00p. The North Sea-focused oil and gas producer says production at the Triton floating production storage and offloading unit will restart "shortly", following the completion of maintenance work. Serica says there are no further planned outages for the Triton FPSO in the remainder of the year. Production at the asset was suspended earlier this year following damage after Storm Eowyn in January. "The Triton FPSO was delivering 25,000 boepd net to Serica immediately prior to the shutdown. This figure has the potential to be boosted through the addition of production from two new wells," the company says. Serica has a 46% stake in Triton. Operator Dana Petroleum owns 52% and Waldorf Production UK owns the remainder.

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SMALL-CAP - LOSERS

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TT Electronics PLC, down 5.6% at 105.00p, 12-month range 61.90p-172.00p. The Woking, England-based manufacturer of electronic components says revenue in the five months that ended May 31 is 5.5% lower on-year on an organic basis. This is driven by its "strong" performance in Europe, due largely to its Aerospace and Defence customers, being offset by headwinds in Asia and North America. The firm notes that recent US order deferrals in particular have impacted the Asia region, as a result of customer uncertainty around US tariffs. TT Electronics have decided to close its operations in Plano, Texas, following a detailed review, as the Plano site incurred an operating loss before recharges of GBP5.7 million in 2024. Looking ahead, the firm expects adjusted operating profit for 2025 to be in line a company-compiled consensus of GBP34.7 million. This would be down 6.5% from GBP37.1 million in 2024 and 26% lower than GBP47.1 million in 2023.

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Porvair PLC, down 4.7% at 736.00p, 12-month range 602.00p-864.00p. The Norfolk, England-based environmental and specialist filtration technology firm reports pretax profit of GBP11.3 million in the six months that ended May 31, rising 6.6% from GBP10.6 million the year before. Revenue grows 3.3% to GBP97.7 million from GBP94.6 million, while other operating expenses increase 5.1% to GBP22.8 million from GBP21.7 million. The firm declares an interim dividend of 2.2 pence per share, up 4.8% on-year from 2.1p. "Trading has been mixed across our end markets, with strength in certain industrial businesses and laboratory instruments, offsetting softness in aerospace and foundry together with foreign exchange headwinds," says Chief Executive Officer Hooman Caman Javvi. "Currently, the trading outlook for the second half of the year remains positive. We continue to monitor the near-term macro-economic uncertainty and tariff environment, noting that the group's manufacturing footprint mainly serves local customers."

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By Emily Parsons, Alliance News reporter

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