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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Ricardo PLC, up 4.4% at 346.72 pence, 12-month range 325.00p-510.00p. The West Sussex-based engineering and environmental consultancy will set out a series of targets at a capital markets day on Thursday. Ricardo eyes doubling its underlying operating profit over the five years to financial 2027. In the year ended June 30, 2021, it amounted to £8.5 million. It eyes an underlying operating profit margin in the ‘mid-teens’ by financial 2027, compared to 14.9% in financial 2021.
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DWF Group PLC, up 3.2% at 106.30 pence, 12-month range 97.20p-130.81p. The Manchester, England-based legal business issues a bullish trading update and says it has landed an agreement in Hong Kong. For the financial year ended April 30, it expects net revenue of £350 million, up more than 6% like-for-like. Adjusted pretax profit is to rise 20% to around £41 million, in line with market expectations. DWF has agreed an ‘exclusive affiliation’ with Hong Kong law firm Hauzen LLP. ‘The move will strengthen DWF’s global offering and complements the exclusive association with Eldan Law in Singapore announced in April 2021,’ DWF says.
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Made.com Group PLC, up 3.1% at 53.70 pence, 12-month range 47.29p-214.44p. The stock looks set to rise for the second successive session, as shares in the sofa seller bid to recover from a sharp fall earlier in May. The stock tumbled 15% on May 16 and then another 7.4% the session after as it warned of ‘highly challenging’ market conditions. The stock has fallen roughly 75% since floating at 200p each in June 2021.
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SMALL-CAP - LOSERS
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Hostmore PLC, down 15% at 42.49p, 12-month range 39.00p-156.24p. The hospitality group, which owns the Fridays American food chain, warns its margin will fall short of medium-term guidance. Hostmore expects an adjusted earnings before interest, tax, depreciation and amortisation margin in the low double-digits range for 2022, compared with its medium-term aim which targets a level in the mid-teens. Like-for-like revenue in the 20 weeks to May 22 was 6% lower than three years earlier. ‘We believe this is primarily a result of consumer confidence weakening significantly since Russia’s invasion of Ukraine on 24 February 2022 which is contributing to the current cost of living crisis,’ Hostmore explains.
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