The following stocks are the leading risers and fallers among London Main Market small-caps on Friday.
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SMALL-CAP - WINNERS
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888 Holdings PLC, up 4.3% at 83.20 pence, 12-month range 67.25p-133.90p. The Gibraltar-headquartered sports betting and gambling company, which owns brands including 888casino and William Hill, says first-quarter revenue declined but topped expectations, ahead of a possible name change for the William Hill owner. First-quarter revenue is £431 million, down 3.2% on-year but ahead of the £420 million to £430 million it had predicted. 888 notes that revenue is up, however, by 2% from the fourth quarter of 2023. It explains that this reflects ‘a continuation of positive sequential quarter-on-quarter trends.’ UK & Ireland online revenue alone falls 1% due to ‘reduced sports venues and increased customer investment across the Cheltenham Festival in comparison to last year’, which a 4% growth in gaming could not offset. 888 also gives shareholders a strategy update. The company, which had set out a ‘value creation plan’ last month, says shareholders will get a vote on its possible name change to Evoke PLC at its annual general meeting in May. It explains that the new name will better reflect its ‘one company’ approach.
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Zotefoams PLC, up 4.9% at 388.00p, 12-month range 258.55p-415.00p. The cellular materials company enters into an exclusivity agreement with Design Blue Ltd for the launch of a new protective foam material. It partners with Design Blue to develop a new material, intended for high-performance impact protection solutions for the defence and law enforcement sectors. Design Blue manufactures products under the D3O and Delta Three Oscar brand, producing impact-protective solutions across a huge range of industries for clients such as the US Department of Defence, Formula 1, NASCAR, Harley-Davidson, Fox and Adidas. Zotefoam’s lightweight, high-performance foam ZOTEK NC will be incorporated into D3O’s body armour and ballistic helmet liner systems, offering high-impact protection at very light weight.
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SMALL-CAP - LOSERS
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Asos PLC, down 2.6% at 349.10p, 12-month range 320.33p-794.00p. The fast fashion retailer falls, despite Goldman Sachs raising its price target to 360p from 320p, although it still rates the stock at ’sell’. Asos shares rose on Thursday, after it reported on Wednesday a narrowed half-year pretax loss on ‘disciplined inventory and cost management’. Revenue declined, however. It also announced Dave Murray will be stepping into the chief financial officer role later this month, replacing Interim CFO Sean Glithero.
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