The following stocks are the leading risers and fallers among London Main Market small-caps on Friday.
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SMALL-CAP - WINNERS
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Evoke PLC, up 6.6% at 60.15 pence, 12-month range 49.18p-297.60p. JPMorgan places the William Hill and 888 owner ’positive catalyst watch’, sending shares higher.
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Caffyns PLC, up 5.7% at 449.00p, 12-month range 400.00p-600.00p. The car dealership chain reports a jump in half-year profit, despite ‘increased costs and a difficult trading environment’. Pretax profit in the six months to September 30 jumps to £213,000 from £44,000 a year prior. Revenue increases 2.6% to £137.7 million from £134.3 million. ‘Our forward-order book for new cars remains at healthy levels although concerns remain over whether manufacturers will place limits on the supply of new internal-combustion engine cars in the final months of 2024 to assist in achieving their government-mandated targets for registrations of zero-emission cars in the 2024 calendar year,’ the firm says. It expects an increase in employers’ national insurance contributions in the UK to ‘add to costs from April 2025’.
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McBride PLC, up 4.9% at 110.11p, 12-month range 59.60p-145.00p. The maker of private label products for domestic and professional cleaning and hygiene markets completes a refinancing of its banking facilities. The new financing consists of a €200 million revolving credit facility with four-year maturity. There is an option to extend this by up to two years. ‘The new arrangement includes a €75 million uncommitted accordion feature to provide additional facilities for potential future acquisitions or other financing needs, also with a four-year maturity,’ McBride adds.
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SMALL-CAP - LOSERS
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Argent BioPharma Ltd, down 40% at 9.38p, 12-month range 6.00p-29.60p. The drug discovery company unveils a plan to exit the London Stock Exchange. It follows a probe on the listing requirements and costs associated with a transfer of its shares to the equity shares (commercial companies) category from the equity shares (international commercial companies secondary listing) division. Argent will maintain its Sydney listing. ‘The company’s main operations and management are based in the EU, with a growing investor base in the United States of America. Looking ahead, Argent BioPharma may still look to explore opportunities to expand its accessibility to investors, including the potential for a dual listing on a United States based exchange,’ Argent adds.
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