The following stocks are the leading risers and fallers among London Main Market small-caps on Tuesday.
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SMALL-CAP - WINNERS
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Photo-Me International PLC, up 16% at 92.64 pence, 12-month range 55.70p-96.39p. The Epsom, Surrey-based operator of instant-service equipment says its first-half outturn was boosted by easing virus restrictions. Revenue in the six months to April 30 rises 22% to £115.3 million from £94.6 million a year earlier. Pretax profit surges 66% to £19.9 million from £12.0 million. Photo-Me declares a 2.6 pence interim dividend, having not paid one a year earlier. It also declared a 6.5p special payout. The stock hits this 12-month high on Tuesday.
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Petra Diamonds Ltd, up 5.2% at 102.00 pence, 12-month range 0.45p-103.00p. The company says revenue from diamond sales rise 46% to $178.8 million in the fourth quarter ended June 30. For the whole of its financial year, revenue is up 44% to $584.1 million. The 103p 52-week high is achieved on Tuesday.
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Palace Capital PLC, up 4.6% at 278.24 pence, 12-month range 230.00p-297.00p. The commercial real estate investor bins a proposed strategic change. Palace Capital will still pursue the sale of its industrial portfolio of eight assets, valued at £46.5 million. Proceeds will be returned to shareholders. Palace had initially planned to reposition itself as an environmental, social and governance-driven ‘regional office market specialist’. The strategy has been changed after investor feedback.
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SMALL-CAP - LOSERS
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Made.com Group PLC, down 38% at 23.95p, 12-month range 22.80p-200.00p. The furniture retailer lowers guidance as consumer purse strings tighten. It also hints at a potential fundraise. Gross sales in the first half of 2022 were 19% lower year-on-year, though up 55% from pre-virus levels. For 2022, Made now expects gross sales to fall by between 15% to 30%. It had previously expected an outcome ranging from flat sales to a 15% fall. Revenue guidance has been lowered to a range of a 9% fall to a 24% fall from between 8% growth and a 7% decline previously. Shares are now 88% below the initial public offering price.
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