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 26% at 292.49 pence, 12-month range 233.00p-448.00p. The lightweight foams maker says revenue in the third quarter of 2022 was up 27% year-on-year. It now expects adjusted pretax profit to be ‘significantly ahead’ of market expectations, which currently stands at £9.3 million. ‘Both revenues and margins are also seeing an increasing benefit from pricing actions implemented earlier in the year, in response to cost inflation, as well as from a weaker sterling exchange rate, primarily against the US dollar,’ it says.
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Treatt PLC, up 12% at 579.92 pence, 12-month range 503.36p-1,315.00p. The ingredients supplier continues to expect pretax profit before exceptional items of between £15.0 million and £15.3 million for the year ended September 30. It also expects revenue growth of 13% to £140 million, in line with market expectations. It ‘progressive dividend policy’ is unchanged, the company adds.
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SMALL-CAP - LOSERS
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Rank Group PLC, down 8.5% at 58.45p, 12-month range 57.00p-187.00p. The Grosvenor casinos owner kicks off its financial year with a revenue hike, though it faces weakening consumer confidence and rising inflationary pressures. In the three months to September 30, group net gaming revenue rose 2% year-on-year on a like-for-like basis to £165.7 million. At Grosvenor alone, it was a 5% decline. Visits to its Grosvenor casinos are growing, but spend per head has weakened amid cost of living worries.
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