The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.
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SMALL-CAP - WINNERS
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Treatt PLC, up 2.1% at 438.92 pence, 12-month range 365.29p-570.00p. The extracts and ingredients provider reports improved annual earnings and lifted its payout. Pretax profit in the year to September 30 improves 36% to £18.5 million from £13.5 million. Revenue rises 3.8% to £153.1 million from £147.4 million. ‘We made great progress, with growth in both sales and profit, boosted by a really strong revenue performance in the second half, up 13%. And I am particularly pleased that we have brought net debt right down thanks to our strong cash generation, with further momentum to be cash positive in the new financial year,’ CEO David Shannon says. ‘This performance not only reflects good conversion of the order book and the strong cost discipline that’s now embedded across the group, but also normalising demand trends and the benefits of investment. We have invested for growth, expanding our commercial teams, bringing them closer to customers, and are close to opening our new Shanghai innovation centre, in line with our strategic focus in the region.’ Treatt lifts its final dividend by 6.4% to 5.81 pence from 5.46p. Its total dividend is 5.0% higher at 8.41p from 8.01p.
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On the Beach Group PLC, up 1.5% at 209.00p, 12-month range 114.40p-216.49p. The beach holidays retailer extends gains after a 20% advance on Tuesday. It reported robust annual results, declared a final dividend and launched a £25 million share buyback on Tuesday.
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SMALL-CAP - LOSERS
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Genel Energy PLC, down 3.3% at 67.90p, 12-month range 64.10p-103.00p. The stock struggles again after a 20% slide on Tuesday. The oil & gas company with production assets in the Kurdistan region had suffered that slump after an unfavourable court ruling. The London Court of International Arbitration ruled that the Kurdistan Regional Government validly terminated the Bina Bawi and Miran production sharing contracts, dismissing a Genel Energy counterclaim.
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