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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Avon Protection PLC, up 29% at 955.89 pence, 12-month range 732.00p-2,178.00p. Receives order worth over $15 million from US Department of Defense, as it reports improved trading in the second half of its financial year. Wins order for 380,000 pairs of M61 filters worth $15.1 million from US government. Deliveries are expected to commence in early in its 2023 financial year. Notes performance for the soon-to-end financial year, excluding armor, should be ‘at least in line’ with market expectations. Adds search for Chief Executive Paul McDonald’s replacement is going well.
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Halfords Group PLC, up 15% at 152.80 pence, 12-month range 124.00p-374.40p. Says revenue growth in 20 weeks to August 19 was helped by product price cuts, and reconfirms its annual profit target. Total revenue in the 20-week period was up 9.2% year on year, but like-for-like sales were down 1.9%. Halfords pinned the revenue slowdown on a surge in sales when the UK emerged from its final Covid lockdown. Like-for-like Autocentres revenue was up 19%, boosted by its expanding car repairs business, but Retail revenue fell 7.1%. Looking ahead, guides for annual underlying pretax profit to be between £65 million and £75 million. Last year, it posted underlying pretax profit of £89.8 million.
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SMALL-CAP - LOSERS
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James Fisher & Sons PLC, down 6.6% at 285.00p, 12-month range 257.00p-988.00p. Posts fall in interim profit as administrative expenses and cost of sales outpaced revenue growth. Pretax profit in six months to June 30 narrows to £3.2 million from £8.1 million a year prior, the Cumbria, England-based marine services company says. Revenue increases 2.0% to £238.4 million from £233.7 million. However, this was offset by administrative expenses widening by 9.6% to £49.2 million from £44.9 million. Further, cost of sales also outpaced revenue growth, increasing by 2.9% to £182.7 million from £177.6 million.
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