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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Porvair PLC, up 3.8% at 674.08 pence, 12-month range 522.00p-700.00p. Shares rise, after announcing full-year results on Monday. On Monday, Porvair said it was ‘optimistic’ for 2024 and beyond, after revenue and profit reached all-time highs in 2023. Both revenue and profit reached ‘record’ levels for the King’s Lynn, England-based company, which focuses on environmental and specialist filtration technology. Revenue was £176.0 million for the financial year that ended on November 30, up 2.0% from £172.6 million in 2022. Porvair said that pretax profit reached £20.1 million in 2023, up 7.5% from £18.7 million a year prior. The company also recommended a final dividend of 4.0p, bringing the full-year dividend up to 6.0p from 5.7p in 2022.
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Superdry PLC, up 5.2% at 41.45p, 12-month range 14.26p-135.80p. Shares in the clothing retailer rise after more than doubling in Friday’s session amid indications that takeover talks are heating up. On Wednesday, regulatory filings showed that Norwegian-based investment fund First Seagull bought a 5.3% stake in Superdry. On Friday, the Times reported that First Seagull considers Superdry ‘to be ripe for a bid’. The newspaper added that Sycamore Partners, an American private equity company, and Authentic Brands Group LLC, which owns Ted Baker and Forever 21, are said to have Superdry on their radar. After market close on Friday, Sky News reported that Rcapital and Gordon Brothers have held initial talks with Chief Executive Julian Dunkerton about a bid to take Superdry private. Both specialise in investments in financially challenged companies.
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SMALL-CAP - LOSERS
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Xaar PLC, down 2.9% at 100.50p, 12-month range 90.24p-214.00p. shares fall, after a difficult start to the year. In the year-to-date the stock is down 12%. Over the last 12 months, the stock is down 43%.
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