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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PayPoint PLC, up 3.6% at 552.31 pence, 12-month range 372.5p-585.75p. The payment system company reports positive quarterly trading in the three months to December 31, its third quarter. Says net revenue jumps 60% to £52.0 million from £32.5 million a year before. It remains on track to deliver around £80 million in underlying earnings before interest, tax, depreciation and amortisation for the current financial year, and underlying pretax profit in line with expectations. ‘As we continue towards delivering £100 million Ebitda by the end of FY26, our confidence is underpinned for the next financial year by: further growth in our PayPoint One/Mini, card and ATM estates; a strong run rate for won and onboarded new business wins for our digital payments platform across multiple sectors; confidence in sustaining our excellent growth rates in E-commerce; continued innovation and new proposition development into our retailer partner network; and establishing the right organisational structure and cost base to support the delivery of our growth plans,’ says Chief Executive Nick Wiles.
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Avon Protection PLC, up 3.0% at 948.65p, 12-month range 582p-1,138p. The personal protection equipment company wins a further delivery order worth $14.2 million from the US Defense Logistics Agency. The order comes under the second-generation Advanced Combat Helmet framework contract announced in February 2022.
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SMALL-CAP - LOSERS
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Ceres Power Holdings PLC, down 21% at 200.75p, 12-month range 135.1p-518p. The clean energy technology developer says it was not able to conclude its joint venture in China with Robert Bosch GmbH and Weichai Power Co Ltd, and doesn’t anticipate the proposed JV completing in its current form. It is assessing other options with Weichai in the Chinese market, and will update in due course. It had announced the proposed three-way collaboration agreement to access opportunities for fuel cell technologies in China back in February 2022. However, in November of that year, and July of 2023, it warned of delays to the JV. For 2023, it expects revenue at around £21-22 million, flat from £22 million in 2022. In 2024, however, it expects revenue to at least double thanks to its recently-announced signing of its first hydrogen licence with Taiwan’s Delta Electronics. The Delta deal will bring in £43 million in revenue to Ceres, half of which is expected to be recognised in 2024.
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