The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.
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SMALL-CAP - WINNERS
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Foxtons Group PLC, up 6.2% at 38.35 pence, 12-month range 31.10p-61.20p. The estate agent hires Guy Gittins, chief executive of cross-town rival Chestertons, as its new chief executive, effective on September 5. Gittins will replace Nic Budden who has stepped down, having been CEO since 2014. It is the latest in a series changes at the top of Foxtons. Budden had taken over chief operating officer duties back in April after Patrick Franco resigned with immediate effect. Ian Barlow stepped down as chair at the end of 2021, after a major shareholder had called for ‘radical’ changes, replaced by Nigel Rich.
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S4 Capital PLC, up 4.1% at 297.20 pence, 12-month range 259.00p-870.00p. Reports performance in the first quarter of 2022 ahead of its guidance to the market, with a double digit jump in revenue reinforcing a confident outlook. For the three months ended March 31, the London-based advertising and marketing agency posts gross profit at £171.1 million, up 65% from £104.0 million the same period a year before. This was on revenue which grows 70% to £206.0 million from £121.6 million. Says its momentum had been reinforced by two further ‘whopper’ additions to its portfolio, with the acquisition of 4Mile and TheoremOne, bringing its total to eight against the company’s target of 20. Also says performance makes an excellent start in achieving its 2022-24 three-year plan of doubling its size on a like-for-like basis, as well as its previous 2020-22 and 2021-23 plans, both of which have similar goals for a doubling in size.
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SMALL-CAP - LOSERS
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Nuformix PLC, down 38% at 0.53 pence, 12-month range 0.53p-2.30p. Hits 12-month low as latest study in pre-clinical lead asset NXP002 were ‘inconsistent with the first in vivo study’. It adds: ‘In the opinion of the company and its development advisers, no positive or negative conclusions could be drawn from this study.’ It will begin a new study in the inhaled treatment for idiopathic pulmonary fibrosis, which will include a new formulation. Chair Alastair Riddell says: ‘We have sufficient funds to conduct the studies on NXP002 and, based on our current projections, to continue to Q4 2023.’
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