The following stocks are the leading risers and fallers among London Main Market small-caps on Thursday.
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SMALL-CAP - WINNERS
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Zotefoams PLC, up 5.2% at 313.44 pence, 12-month range 233.00p - 435.00p. Reports that the positive momentum seen in the first three quarters of its financial year had continued into the fourth, putting its full-year profit ahead of expectations. In the nine months ended September 30, the industrial plastics maker says revenue was around 24% ahead of the same period the previous. In addition, trading in October and November remains strong. As a result, the firm expects adjusted pretax profit in 2022 to be ahead of current market expectations, which it placed at £10.7 million.
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Hunting PLC, up 2.5% at 270.50 pence, 12-month 142.80p - 356.50p. Says that its 2022 trading and financial outturn remains in-line with market expectations, with earnings before interest, tax, depreciation and amortisation predicted at $50 million. The oil and gas industry services provider adds that its sales order book continues to improve, with the order book now approaching $500 million. For 2023, Hunting raises guidance for Ebitda to between $85 million and $90 million, up from $80 million previously. Chief Executive Jim Johnson says: ‘2022 has been a year of rebuilding for the industry with 2023 now likely to be a strong year of growth for the group. All of our operating segments are reporting good levels of enquiries, and with our order book now approaching $500 million, our earnings visibility for the year ahead is robust, despite recessionary fears.’
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SMALL-CAP - LOSERS
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STV Group PLC, down 4.2% at 266.37 pence, 12-month range 235.00p - 363.00p. Expects its total advertising revenue for 2022 to be down by 2.0% against the previous record year. Adds that this would be 8.0% higher than the pre-Covid year of 2019, however. It says that regional advertising is expected to perform broadly in line with national advertising for the year. 9-month total advertising revenue is down 3.0%, in line with expectations. In the third quarter, total advertising revenue is down 17% due to caution in the advertising market due to economic uncertainty in the UK. Fourth quarter total advertising revenue is expected 1.0% lower against a tough comparator year, STV says. Reports improved STV Studios guidance for 2023, with secured revenue now between £50 million and £5 million, ahead of its target of £40 million.
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