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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AO World PLC, up 4.7% at 85.5 pence, 12-month range 50.1p-101.8p. The electrical retailer adds to Tuesday’s gains, after raising annual profit guidance amid a swing to interim profit. It now expects pretax profit between £28 million and £33 million in financial 2024, which would be a multiple of £8 million in financial 2023. It had expected £28 million previously. Revenue in the six months to September 30 declined 12% on-year to £481.7 million from £546.3 million. However, it swung to a pretax profit of £13 million from a loss of £12 million.

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SMALL-CAP - LOSERS

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Speedy Hire PLC, down 6.5% at 33.42p, 12-month range 26p-43.45p. The tool and equipment hire services firm says it expects its annual results to be at the lower end of its previous expectations, as it reports a sharp drop in interim profit. In the six months to September 30, revenue slips 2.9% to £208.5 million from £214.8 million, and pretax profit plunges 58% to £5.6 million from £13.2 million. ‘As in prior years, the group expects a second half weighting to its revenues and profits, as the winter programmes commence and new contracts fully mobilise in the period, including those communicated at year end,’ Chief Executive Dan Evans says.

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TT Electronics PLC, down 7.0% at 150.36p, 12-month range 140.85p-212.03p. The electronic components maker expects adjusted pretax profit for 2023 to be at the lower end of a market consensus range. It cites the range as £43.1 million to £46.0 million, having achieved £40.4 million in 2022. TT blames a machinery breakdown in one of its Sensors & Specialist Components facilities. The breakdown persisted for longer than expected and hit third-quarter profit by around £2 million. Says order intake has normalised over the second half as lead times reduced, but visibility remains ‘above historic levels’.

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Tt Electronics PLC (TTG)

-0.80p (-0.59%)
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Speedy Hire PLC (SDY)

+0.45p (+1.69%)
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