(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Friday.
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SMALL-CAP - WINNERS
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XP Power Ltd, up 6.7% at 1,072.88 pence, 12-month range 682.40p-2,750.00p. The company that designs and manufactures power controllers rises, after publishing its trading update. Says that revenue in the third quarter of 2023 was GBP75.1 million down from GBP79.4 million. However, operating profit was slightly ahead of its expectations due to a better outturn in September. Trading in October has been "at least" in line with company expectations. Also says it has undertaken a number of important cost reduction and cash preservation actions that will benefit the remainder of 2023 and 2024. Looking ahead, XP left its full-year expectations unchanged. It also notes "advanced and constructive discussions" with its lending banks concerning "future covenant requirements and other near-term actions to strengthen the balance sheet".
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Foxtons Group PLC, up 5.4% at 37.00p, 12-month range 27.15p-43.95p. The London-based estate agency rises. On Thursday, Foxtons said revenue rose in the third quarter of 2023 to GBP43.9 million from GBP43.8 million the year before. For its Lettings arm, revenue increased 8.2% to GBP31.6 million from GBP29.2 million. Sales revenue, however, decreased 17% to GBP9.9 million, while Financial Services revenue fell 13% to GBP2.4 million. Looking ahead, Foxtons expects a robust performance in the fourth quarter with the supply of available rental properties likely to improve, although year-on-year rental increases are expected to moderate.
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SMALL-CAP - LOSERS
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Hostelworld Group PLC, down 3.7% at 107.89p, 12-month range 87.00p-157.80p. The hostel booking company gives back some of its gains. In the last 12 months the stock is up 19%.
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By Sophie Rose, Alliance News reporter
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Xp Power (XPP)
Hostelworld (HSW)
Foxtons (FOXT)