The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.
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SMALL-CAP - WINNERS
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Treatt PLC, up 6.6% at 504.05 pence, 12-month range 370.00p-724.00p. The Suffolk-based extracts and ingredients manufacturer says revenue in its financial first half ended March 31 fell 5.1% to £72.1 million from £76.0 million a year before. Pretax profit rises 7.9% to £7.1 million from £6.6 million, as earnings per share increase 7.0% to 8.72p from 8.15p. Treatt declares an increased interim dividend of 2.60p from 2.55p a year prior. Treatt continues to expect full-year profit in line with its expectations, and says that it has built strong momentum going into the second half, with a ‘solid order book and healthy sales pipeline’.
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SMALL-CAP - LOSERS
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On the Beach Group PLC, down 12% at 148.00p, 12-month range 82.80p-178.00p. The Manchester-based travel agent swings to a pretax profit of £600,000 in its financial first half from a loss of £5.9 million a year before. The total transaction value of booked holidays increases 22% to £597.8 million from £491.7 million, as revenue rises 11% to £80.8 million from £72.9 million. Adjusted earnings before interest, tax, depreciation and amortisation nearly double to £8.1 million from £4.2 million. On The Beach says the overall outlook remains strong, underpinned ‘by an additional 7% airline capacity to beach leisure destinations for summer 2024’. As a result, the company is confident in delivering full-year profit in line with consensus expectations. Chief Executive Officer Shaun Morton says: ‘Looking ahead, the summer ’24 forward order TTV is currently 22% ahead of last year which, coupled with our continued trading momentum since the half year, means we are confident of delivering our biggest summer ever.’
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Headlam Group PLC, down 11% at 156.75p, 12-month range 156.75p-279.00p. The Birmingham-based floor coverings company says revenue in the four months to April 30 is down by slightly more than 12% from a year before, with the UK down 12% and continental Europe down 17%. The expected spring seasonal uplift did not occur, and Headlam says weakness continues in the overall floor coverings market. Despite tight cost management, Headlam says pretax loss for the period is £10.6 million. As a result, it expects to report a ‘significant’ pretax loss in the first half on a double-digit revenue decline. The company does not anticipate the market returning to growth until 2025, and expects full-year profit to be well below current market expectations.
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