The following stocks are the leading risers and fallers among London Main Market small-caps on Tuesday.
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SMALL-CAP - WINNERS
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Galliford Try Holdings PLC, up 3.4% at 201.63 pence, 12-month range 142.8p-209.5p. Updating on the financial year ended June 30, the construction company says it expects pre-exceptional pretax profit to be at the upper end of analyst forecasts. It cites the forecasts within a range of £22.1 million to £23.3 million, which would be up 22% year-on-year from £19.1 million at the upper end of the range. The firm boasts a ‘strong’ performance across all operations, with revenue and pretax profit to increase from the previous year. Its outlook for the current financial year is also fairly rosy, with a ‘high quality’ order book of £3.7 billion at June 30, rising from £3.4 billion the year before.
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Speedy Hire PLC, up 3.3% at 36p, 12-month range 29.75p-48.6p. The tools and equipment hire services company outlines its five-year financial targets under the Velocity transformation and growth plan at its capital markets day. It targets revenue of around £650 million, as well as increasing earnings before interest, tax, deprecriation and amortisation to around 28%. It also seeks to maintain net debt to Ebitda in the range of 1.0 to 1.5 times. ‘I am confident Velocity will support the delivery of our five year targets, driving long-term value for all of our stakeholders,’ says CEO Dan Evans.
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SMALL-CAP - LOSERS
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Riverstone Energy Ltd, down 4.8% at 517.94p, 12-month range 510.1p-736p. The investor in energy assets says portfolio company Anuvia Plant Nutrients Inc has ceased operations and is in liquidation. Adds that its investment of $20 million made in March 2022 had been written down to $14 million at the end of the first quarter. Expects investment to be written down to nothing in the upcoming second-quarter portfolio valuation. ‘Whilst the Series D Investors, including the company, are first equity in line to receive proceeds from Anuvia, the company’s investment manager has informed the board on July 10 that no such proceeds can now be reasonably expected given the debt burden on the business,’ it says.
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