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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Treatt PLC, up 7.1% at 457.28 pence, 12-month range 365.29p-550.00p. The extracts and ingredients manufacturer expects to report better annual earnings, helped by ‘strong China regional growth’. Pretax profit before exceptional items for the year ended September 30 of £18.8 million is predicted, a rise of 9% from £17.3 million. It would be an outcome in line with board expectations. Revenue of £155.2 million is expected, up 5% from £147.4 million. ‘We are particularly pleased with the H2 sales momentum, with 16% sales growth led by improved Heritage and strong China regional growth,’ Treatt says. The Heritage division, which includes citrus, synthetic aromas and herb, spices & florals, had revenue rise 10% in the full-year to £105.7 million, Treatt added. In the New Market segment, revenue fell 9%, ‘as expected’, to £14.7 million. This was largely down to the performance of its coffee offering. New Market also includes China, where revenue rose 27% over the course of the full-year.
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Gulf Marine Services PLC, up 7.1% at 16.65p, 12-month range 9.80p-24.60p. The provider of self-propelled and self-elevating support vessels for the offshore energy sector announces the signing of a new deal in Europe, and the extension of two pacts in the Middle East. The developments take its current backlog to $505 million, an increase of 18% from where it stood in June. In addition, an improving market is aiding in its deleveraging. ‘Market fundamentals are steadily improving, allowing us to meet our deleveraging goals faster than expected. As of the end of September, our net debt has decreased to $221 million, down from $267 million at the start of the year and $238.5 million at the end of June,’ Gulf Marine adds.
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SMALL-CAP - LOSERS
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FDM Group Holdings PLC, down 2.8% at 390.24p, 12-month range 300.00p-499.50p. Shares in the IT-focused professional services provider fall as the stock goes ex-dividend, meaning new buyers do not qualify for the latest payout. Year-to-date, shares in the company are down 15%. FDM recruits, trains and deploys its own permanent IT and business consultants, known as ’mounties’.
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Liontrust Asset Management PLC, down 2.7% at 513.68p, 12-month range 503.00p-865.00p. The asset manager reports investor enthusiasm has been damped by pre-UK budget uncertainty, largely stemming from doubt around possible ‘changes to taxation and reliefs’. ‘This has contributed to another quarter of net outflows as the challenging environment for active managers has continued for longer than anticipated,’ Chief Executive Officer John Ions says. Nonetheless, net outflows eased up to £1.14 billion in the second quarter ended September 30, from £1.58 billion a year prior. Assets under management and administration fall to £25.96 billion, from £27.04 billion a quarter earlier.
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