The following stocks are the leading risers and fallers among London Main Market small-caps on Friday.
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SMALL-CAP - WINNERS
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MJ Gleeson PLC, up 6.1% at 403.00 pence, 12-month range 331.00p-808.00p. The housebuilder says the cancellation rate was reduced in the final weeks of 2022. In the six weeks to Christmas, there were only 6.5 plot cancellations per week, compared to 11.5 plot cancellations per week in the six weeks to mid-November. It says its Gleeson Homes arm completed the sale of 894 homes during the six months ended December 31, down 4.1% annually. ‘We are cautiously optimistic of a recovery during 2023, due to a number of factors, including that mortgage rates continue to fall from the highs experienced in October 2022, and the need for low-cost, high-quality homes remains acute,’ the company says.
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SMALL-CAP - LOSERS
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Wincanton PLC, down 2.9% at 331.25p, 12-month range 270.50p-426.50p. The supply-chain and distribution services provider warns of a ‘difficult’ financial year ahead. In its third quarter ended December, revenue fell 1.4% on-year. ‘Over the last nine months, the UK’s economic, political, and labour environments have been particularly challenging, impacting both our top-line growth trajectory and our underlying cost base. We expect these difficult conditions to continue in [financial 2024],’ Wincanton cautions.
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Dialight PLC, down 17% at 265.55p, 12-month range 225.00p-385.03p. The LED lighting maker says revenue in December was below expectations, ‘reflecting seasonal demand’, as well as deferred orders from key customers. It now expects 2022 underlying operating profit of at least £5 million, up from £4.5 million in 2021, but below previous expectations. Revenue for 2022 is to rise 29% to £169 million.
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