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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Macfarlane Group PLC, up 3.9% at 106.50 pence, 12-month range 85.2p-139p. The packaging and label company said it is trading in line with its expectations for the full year in the 10 months to October 31, with its results set to surpass 2021. Sales revenue in the year-to-date is up 11%, as lower volumes are offset by price inflation. ‘Given the well-publicised adverse market conditions we are pleased with the performance of the group so far in 2022 and confident in meeting our profit expectations for the year,’ says Chair Aleen Gulvanessian.
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Halfords Group PLC, up 6.1% at 210.17p, 12-month range 123.9p-374.4p. The stock bounces back from a sell-off on Wednesday, when the motoring retailer reported a steep drop in profit in the 26 weeks to September 30. Pretax profit fell to £29.3 million from £64.3 million a year ago. Revenue rose 10% to £765.7 million from £694.8 million. The firm now expects underlying pretax profit in its full year to be at the lower end of its £65 million to £75 million range. Halfords also noted a softening in trade in its discretionary areas. ‘It remains challenging to predict consumer confidence for the remainder of financial 2023, but we don‘t expect the challenges that businesses are facing to dissipate soon,’ CEO Graham Stapleton said on Wednesday.
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SMALL-CAP - LOSERS
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Headlam Group PLC, down 7.2% at 270p, 12-month range 230p-439.6p. The floor coverings distributor says it expects annual underlying profit to be ‘marginally’ below the low end of market expectations, which Headlam cites as a range of £38.0 million and £41.8 million. The firm says the cost of living crisis continues to suppress market volumes in the UK residential sector, though growth in the commercial sector is partially offsetting this. It says revenue in the 10 months to October 31 was ‘only marginally’ behind the prior year. This is due to new larger customer wins and the roll-out of the trade counter, as well as price inflation.
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