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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Ceres Power Holdings PLC, up 48% at 223.36 pence, 12-month range 135.1p-518p. The clean energy tech developer announced the signing of its first hydrogen licence with Taiwan’s Delta Electronics. The agreement covers the manufacturing collaboration and licensing of both solid oxide electrolysis cell and solid oxide fuel cell stack production. It will bring in £43 million in revenue to Ceres, half of which is expected to be recognised in 2024. Ceres said there’s the potential for additional revenue from the sale of development stacks to Delta. In 2022, Ceres Power reported revenue of £22.1 million. ‘Today we take this first step towards what promises to be a strong collaboration with Delta to accelerate the industry globally,’ says CEO Phil Caldwell.
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Zotefoams PLC, up 4.4% at 347.66p, 12-month range 258.55p-415p. The cellular material technology firm rises as it provides guidance on its annual performance in 2023. Says adjusted pretax profit to be around £13.1 million, up from £12.5 million in 2022, and about 5% ahead of company-compiled consensus forecasts. Revenue is likely to come in line with expectations at £127.0 million, a touch below £127.4 million the prior year. ‘The group has recovered and stabilised margins in its polyolefin foams business and continued to grow sales from its higher margin high-performance products,’ says CEO David Stirling.
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SMALL-CAP - LOSERS
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Superdry PLC, down 15% at 18.07p, 12-month range 17.5p-164.8p. The clothing retailer’s shares continue to come under pressure. They fell sharply on Tuesday after Sky News reported the clothing retailer has enlisted one of the big four accountancy firms to advise on its finances in the wake of a pre-Christmas profit warning. Superdry, founded by Julian Dunkerton, has appointed PricewaterhouseCoopers to examine its debt-raising optionsm, Sky News said. In December, the Cheltenham, Gloucestershire-headquartered clothing retailer, warned its profit for its current financial year ending at the end of April will suffer amid the ‘well-documented challenging trading environment’. The stock is down 41% over the past week.
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