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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Lookers PLC, up 4.0% at 76.96 pence, 12-month range 8.24p-102.00p. The car dealer says it was pleased with its performance in its first half and as a result expects its full-year profit to be ahead of expectations. For the first half of 2022, Lookers now expects underlying pretax profit of £45 million. This is 10% below the previous year, but Lookers noted it was a strong comparable period, particularly during the second quarter when lockdown restrictions were lifted. As a result of its interim performance and its good order bank going into the second half, Lookers expects underlying pretax profit will be ahead of its previous, unspecified expectations. Rival Vertu Motors PLC rises 2.1% in a positive read-across.

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McBride PLC, up 1.8% at 16.65p, 12-month range 15.79p-93.20p. The cleaning and hygiene product maker says its lender has waived debt covenant tests until September, providing some relief as input costs surge and supply chain challenges intensify. The Manchester-based company says its banking group has waived a June covenant test until the end of September. Its banking partners had also waived December 2021 covenant tests. McBride also says it is performing in line with market expectations.

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SMALL-CAP - LOSERS

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Capita PLC, down 2.6% at 27.50p, 12-month range 19.89p-55.98p. The outsourcer says trading in the first half of the most recent financial year has been in line with expectations as it continues to expect further strong progress. Capita expects revenue growth of up to 1%, with a solid platform of secured revenue, and a ‘strong pipeline of contract opportunities and markets driven by demand for cost-effective digital solutions’, it asserted. Capita also expects profits in 2022 to be significantly weighted to the second half, with a reduced earnings before interest, tax, depreciation, and amortisation margin reflecting the full-year impact of prior-year contract losses.

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