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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Sabre Insurance Group PLC, up 4.0% at 165.43 pence, 12-month range 102.00p-168.60p. The insurer reports results for 2023. Gross written premium rise to £225.1 million from £171.3 million a year earlier. Pretax profit climbs to £23.6 million from GP14.0 million. On the back of the results, Sabre doubles dividend to 9.0p from 4.5p. Chief Executive Geoff Carter says: ‘We have delivered good profit for the year, ahead of expectations and we anticipate a further significant increase in profitability for 2024 as the profitable business written in 2023 earns through. We believe that ongoing market uncertainties are such that price discipline should be maintained across the sector, which, together with our ongoing focus on profitable growth, will enable Sabre to deliver strong returns to shareholders in 2024.’
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SMALL-CAP - LOSERS
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DFS Furniture PLC, down 8.5% at 103.27p, 12-month range 95.90p-154.80p. The sofa retailer reports results for 26 weeks ended December 24. In the period, revenue falls 7.2% to £505.1 million from GBPP544.5 million a year earlier. Pretax profit fell to £900,000 from £6.8 million. On the back of the results, DFS lowers interim dividend to 1.1p from 1.5p. Looking ahead, DFS lowers its financial 2024 profit guidance to between £20 million and £25 million. Revenue is expected to be between £1.00 billion and £1.02 billion. CEO Tim Stacey says: ‘We remain confident in both our long-term growth strategy and the capability to deliver on our objectives. We remain well positioned to improve our profit margins without market recovery and remain confident in delivering our 8% PBT target when the market recovers.’
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