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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McBride PLC, up 2.2% at 118.00 pence, 12-month range 31.40p-145.00p. The cleaning and hygiene products seller says revenue in the year to June 30 increases 5.2% to £934.8 million from £889.0 million a year prior. McBride swings to a pretax profit of £46.5 million from a loss of £15.1 million. ‘The transformation programme is progressing to plan, with a number of key projects moving from design to delivery phase in 2025. The group has made an encouraging start to the new financial year and while there are signs of increased brander activity, private label demand remains robust with contract manufacturing maintaining the momentum of the fourth quarter. As such, we look forward to the future with confidence,’ Chief Executive Officer Chris Smith says. Its outlook for the new year is ‘consistent with current market expectations’, which it puts as £59.7 million for adjusted operating profit. Adjusted operating profit in the year just ended totalled £67.1 million, jumping from £13.5 million.
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SMALL-CAP - LOSERS
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THG PLC, down 8.3% at 58.90p, 12-month range 56.30p-89.98p. THG reports a decline in half-year revenue but a narrowed loss as the e-commerce firm reveals it has taken a step towards changing its London listing category, sizing up FTSE UK Index Series inclusion. In addition, it announced it is looking into separating its Ingenuity technology platform. ‘Post a demerger, the group would consist of THG Beauty and THG Nutrition, two globally leading consumer businesses, which are highly profitable, cash generative and capable of paying dividends,’ THG adds. THG says revenue in the first half of 2024 declined 3.6% to £934.0 million from £969.3 million a year prior. Its pretax loss, however, slimmed to £118.1 million from £133.0 million. It hailed a ‘standout performance’ at its THG Beauty, though the going was tougher at THG Nutrition, as a weaker yen hurt trading for its MyProtein brand. For the full-year, it expects group adjusted earnings before interest, tax, depreciation and amortisation to be at the lower end of an analyst consensus range of £133.8 million to £156.5 million.
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Headlam Group PLC, down 6.5% at 143.50p, 12-month range 132.00p-234.55p. It reports a revenue decline and a swing to loss in its first half. The floor coverings company’s revenue in the six months to June 30 falls 12% to £292.5 million from £331.8 million a year earlier. It swings to a pretax loss of £20.6 million, from profit of £4.5 million. The revenue in July and August abates to 8.4%, though Headlam said there is ‘limited indication of any market improvement yet’. ‘Looking ahead, the lead indicators for the market are more positive, but the timing of market recovery remains uncertain and looks to be later than previously anticipated, with a return to growth now expected at some point during 2025,’ it adds. Headlam decides against and interim dividend, after a 4.0 pence per share payout a year prior.
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