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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Sabre Insurance PLC, up 3.7% at 155.50 pence, 12-month range 81.90p-168.00p. The motor insurance underwriter says gross written premiums are up 20% year-on-year to £162.2 million in the nine months to September 30. Strong growth of 34% in Motor Vehicle GWP, and a 15% rise in Taxi GWP help to offset a 49% drop in Motorcycle GWP. Says claims inflation continues at around 10% this year, but rate increases are sufficient to cover this, with loss rations improving towards historical norms. The benefit of this will be seen in 2024, Sabre says. For the year as a whole it backs GWP growth within a 20% to 25% range. ‘Our success so far this year is evident in the high premium levels and very strong solvency position which will allow sufficient headroom for further growth whilst allowing the board flexibility in determining an appropriate dividend distribution at year-end in-line with our policy,’ says CEO Geoff Carter.
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Hollywood Bowl Group PLC, up 3.9% at 242.50p, 12-month range 195p-279.50p. Shares in the bowling chain operator rise as it reports an update on the financial year ended September 30. Total revenue rises 11% annually to £215.0 million, rising 4.1% on a like-for-like basis in the UK. It expects growth in earnings before interest, tax, depreciation and amortisation to be ahead of market expectations. Expects to declare final dividend of at least 7p, after 8.53p the year before. ‘It has been fantastic to see so many families in our centres as they sought out fun, inclusive, affordable activities to keep their kids entertained throughout the year including during the unseasonal wet summer,’ says CEO Stephen Burns.
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SMALL-CAP - LOSERS
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Record PLC, down 5.7% at 73p, 12-month range 67.99p-101.24p. The currency and derivatives manager’s stock falls in morning trade in London. It is down 7.6% over the past month.
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