Source - Alliance News

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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ProCook, up 9.9% at 41.77 pence, 12-month range 36.20p-166.00p. The kitchenware retailer enjoys a minor rebound following several bruising sessions. The stock is down 73% in the year-to-date.

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Severfield PLC, up 7.8% at 64.70p, 12-month range 59.00p-84.84p. Reports increase in annual revenue, supported by higher steel prices, and ups payout to shareholders. The Thirsk, England-based structural steelmaker posts pretax profit of £21.0 million in the financial year that ended March 26, down 0.5% from £21.1 million the year before. Revenue grows 11% in financial 2022 to £403.6 million from £363.3 million in financial 2021. The company attributes this to higher steel prices and a full-year revenue contribution from DAM Structures, which it acquired in February 2021.

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SMALL-CAP - LOSERS

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Motorpoint Group PLC, down 6.0% at 212.04p, 12-month range 194p-401p. The vehicle retailer reports substantial annual earnings growth, but cautions on uncertain outlook amid a squeeze on consumer spending and supply chain challenges. In the year ended March 31, revenue climbs 83% to £1.32 billion from £721.4 million. Pretax profit more than doubles to £21.5 million from £9.7 million. Revenue hit a record high thanks to a ‘combination of market share growth and vehicle price inflation’, Motorpoint says. However, outlook appears shaky. Motorpoint notes that rising inflation is putting pressure on consumer spending, something which is likely to reduce overall sales in its markets. Further, supply chain issues will continue to limit new car production, which in turn constrains used-car supply.

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Procook Group PLC (PROC)

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