(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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Zotefoams PLC, up 5.2% at 313.44 pence, 12-month range 233.00p - 435.00p. Reports that the positive momentum seen in the first three quarters of its financial year had continued into the fourth, putting its full-year profit ahead of expectations. In the nine months ended September 30, the industrial plastics maker says revenue was around 24% ahead of the same period the previous. In addition, trading in October and November remains strong. As a result, the firm expects adjusted pretax profit in 2022 to be ahead of current market expectations, which it placed at GBP10.7 million.
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Hunting PLC, up 2.5% at 270.50 pence, 12-month 142.80p - 356.50p. Says that its 2022 trading and financial outturn remains in-line with market expectations, with earnings before interest, tax, depreciation and amortisation predicted at USD50 million. The oil and gas industry services provider adds that its sales order book continues to improve, with the order book now approaching USD500 million. For 2023, Hunting raises guidance for Ebitda to between USD85 million and USD90 million, up from USD80 million previously. Chief Executive Jim Johnson says: "2022 has been a year of rebuilding for the industry with 2023 now likely to be a strong year of growth for the group. All of our operating segments are reporting good levels of enquiries, and with our order book now approaching USD500 million, our earnings visibility for the year ahead is robust, despite recessionary fears."
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SMALL-CAP - LOSERS
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STV Group PLC, down 4.2% at 266.37 pence, 12-month range 235.00p - 363.00p. Expects its total advertising revenue for 2022 to be down by 2.0% against the previous record year. Adds that this would be 8.0% higher than the pre-Covid year of 2019, however. It says that regional advertising is expected to perform broadly in line with national advertising for the year. 9-month total advertising revenue is down 3.0%, in line with expectations. In the third quarter, total advertising revenue is down 17% due to caution in the advertising market due to economic uncertainty in the UK. Fourth quarter total advertising revenue is expected 1.0% lower against a tough comparator year, STV says. Reports improved STV Studios guidance for 2023, with secured revenue now between GBP50 million and GBP5 million, ahead of its target of GBP40 million.
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By Heather Rydings, Alliance News senior economics reporter
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Zotefoams (ZTF)
Hunting (HTG)
Stvg (STVG)