The following stocks are the leading risers and fallers among London Main Market small-caps on Thursday.
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SMALL-CAP - WINNERS
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NCC Group PLC, up 11% at 167.61 pence, 12-month range 90.50p-169.40p. The cyber security company raises its profit outlook. For the four months to September 30, it now expects adjusted operating profit of around £6 million, on revenue of £104 million. It had previously predicted profit of £3.5 million on revenue of around £100 million. It had suffered a $1 million loss a year prior. ‘Following our August close process, we are pleased to have experienced better-than-expected performance in our Cyber Security division during this historically quieter trading period of the calendar year,’ NCC says.
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Gulf Marine Services PLC, up 8.1% at 16.75p, 12-month range 8.52p-24.60p. It has won a deal and lifted the bottom end of its profit outlook. The Abu Dhabi-based provider of self-propelled and self-elevating support vessels for offshore oil, gas and renewable energy projects says the deal spans five years. It takes its backlog to $464 million. Gulf Marine revises its adjusted earnings before interest, tax, depreciation, and amortisation outlook to a range of $95 million to $100 million, lifting the bottom end of the guidance from $92 million. Executive Chair Mansour Al Alami adds: ‘We are pleased to secure this new long-term contract with one of our key regional clients. This award reinforces the continued high demand for our vessels and reflects the strong utilization of our fleet in the region. We remain committed to supporting our client’s projects and delivering high-quality services across the [Gulf Cooperation Council]. The revised Ebitda guidance for 2024 reflects the favourable market conditions.’
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SMALL-CAP - LOSERS
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HeiQ PLC, down 45% at 5.00p, 12-month range 4.08p-23.00p. The materials and textiles company cautions that market conditions have been ‘challenging’. ‘Pressure on consumer discretionary spending impacted our textiles, flooring, antimicrobials and other established revenue lines,’ it says. For the 18 months to June 30, revenue of $62 million is expected, compared to the $47 million achieved in 2022. The firm had extended its financial year to June 30 of this year to ‘enable the new auditor to complete the audit’. For the first half of the 2024 calendar year, revenue totals $20.4 million, a slight decline on-year from $20.5 million. HeiQ adds: ‘The company has been focusing on improving operational efficiencies and adapting its cost base. Sales volumes were stable throughout the period. However, sales prices remained lower than usual whilst the cost of raw materials, energy and logistics remained high.’
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