The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.
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SMALL-CAP - WINNERS
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Ted Baker PLC, up 15% at 100.90 pence, 12-month range 79.60p-217.60p. The fashion retailer reports robust sales growth and improved margins in its fourth quarter. Ted Baker says group sales in its fourth-quarter that ended January 29 increase by 35% compared to the same period a year before and by 18% from those reported in the third quarter. Ted Baker adds that trading margins improved by more than 350 basis points across all channels. The company is confident in achieving free cash flow of £30 million and an earnings before interest, tax, depreciation, and amortisation margin of 7% to 10% in the new financial year.
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International Personal Finance PLC, up 11% at 135.20p, 12-month range 77.30p-158.00p. The home credit business swings to pretax profit in 2021 and resumes its dividend payout. For 2021, swings to pretax profit of £67.7 million from £40.7 million loss in 2020 on revenue of £548.7 million, down from £661.3 million. Declares 2021 dividend of 8.0p, having paid out nothing in 2020.
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Metro Bank PLC, up 2.4% at 96.00p, 12-month range 82.75p-150.00p. The high-street retail bank posts a narrowed loss for 2021, as it continues on its turnaround plans. For 2021, Metro Bank reported a pretax loss of £245.1 million, narrowed from the £311.4 million loss in 2020, helped by a drop in expected credit losses. Chief Executive Daniel Frumkin says: ‘Two years into the turnaround, our strategy is delivering meaningful results as we move towards profitability. In a changing macro-economic environment, we have accelerated the shift of our balance sheet, with improved yields and lower cost of deposits. This has had a material impact on underlying revenue, which improved 42% when adjusting for the mortgage portfolio disposal.’
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