The following stocks are the leading risers and fallers among London Main Market small-caps on Tuesday.
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SMALL-CAP - WINNERS
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Marston’s PLC, up 0.5% at 33.45 pence, 12-month range 26.80p-45.68p. The pub operator edges up, having hit an intra-day high of 34.95p earlier on Tuesday. The company reports strong trading over Christmas, ahead of its annual general meeting. In the 16 weeks to January 20, total retail sales in the firm’s managed and franchised pubs rise 8.8% year-on-year, with strong sales of both food and drink. On a like-for-like basis, sales rise 8.1%. ‘It has been an encouraging start to the year. This, together with an improving outlook in which inflationary headwinds are broadly abating, and the actions we are taking to operate more efficiently and rebuild margins, position Marston’s well for the year ahead,’ says CEO Justin Platt.
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SMALL-CAP - LOSERS
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Henry Boot PLC, up 8.8% at 191.5p, 12-month range 170p-255p. The property developer warns it expects pretax profit for 2024 to be significantly below current market expectations, which is £37.2 million according to company-compiled consensus It points to ‘extended payment profiles’ with major housebuilders on strategic land sales, which will keep gearing at the upper end of its optimum range. It anticipates profit in 2023 to meet market expectations, however, citing market consensus also at £37.2 million. ‘With a path to lower inflation and improved interest rates, whilst there will undoubtedly be bumps along the way, the economy and our markets have turned a corner, but we expect our results for 2024 to be impacted by these factors. We continue to firmly believe that Henry Boot remains well placed to achieve its medium term growth and return objectives,’ says CEO Tim Roberts.
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Superdry PLC, down 4.7% at 16.30p, 12-month range 14.26p-164.8p. The clothing retailer’s shares continue to weaken further as 2024 progresses. Last week, Sky News reported the clothing retailer has enlisted one of the PricewaterhouseCoopers to advise on its finances in the wake of a pre-Christmas profit warning. The stock is down 45% over the past week and 89% over the past 12 months.
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