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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XP Power Ltd, up 6.7% at 1,072.88 pence, 12-month range 682.40p-2,750.00p. The company that designs and manufactures power controllers rises, after publishing its trading update. Says that revenue in the third quarter of 2023 was £75.1 million down from £79.4 million. However, operating profit was slightly ahead of its expectations due to a better outturn in September. Trading in October has been ‘at least’ in line with company expectations. Also says it has undertaken a number of important cost reduction and cash preservation actions that will benefit the remainder of 2023 and 2024. Looking ahead, XP left its full-year expectations unchanged. It also notes ‘advanced and constructive discussions’ with its lending banks concerning ‘future covenant requirements and other near-term actions to strengthen the balance sheet’.
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Foxtons Group PLC, up 5.4% at 37.00p, 12-month range 27.15p-43.95p. The London-based estate agency rises. On Thursday, Foxtons said revenue rose in the third quarter of 2023 to £43.9 million from £43.8 million the year before. For its Lettings arm, revenue increased 8.2% to £31.6 million from £29.2 million. Sales revenue, however, decreased 17% to £9.9 million, while Financial Services revenue fell 13% to £2.4 million. Looking ahead, Foxtons expects a robust performance in the fourth quarter with the supply of available rental properties likely to improve, although year-on-year rental increases are expected to moderate.
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SMALL-CAP - LOSERS
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Hostelworld Group PLC, down 3.7% at 107.89p, 12-month range 87.00p-157.80p. The hostel booking company gives back some of its gains. In the last 12 months the stock is up 19%.
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