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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Card Factory PLC, up 7.4% at 97.45 pence, 12-month range 79.6p-143p. The Wakefield, England-based retailer reports, in a trading statement for the 11 month ended December 31, sales totalling £506.6 million, up 6.2% on-year from £476.9 million. Says total store revenue increases 5.7%, with like for like growth of 3.9%. Adds that trading was good and in line with expectations during the November to December Christmas period, with 4.7% annual revenue growth in that period ‘driven by higher average basket value which reflects expanded ranges and sales of gift and celebration essentials’. Expects a financial 2025 adjusted pretax profit ‘in line with current market expectations’, which reflects ‘robust revenue growth and the benefits of our previously announced productivity and efficiency programme’. Forecasts a mid-to-high single-digit percentage increase in adjusted pretax profit for financial 2026, despite warning that changes to the national living wage and employer national insurance contributions will increase costs by approximately £14 million.
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MJ Gleeson PLC, up 7.2% at 474.25p, 12-month range 442.5p-654p. The Sheffield, England-based housebuilder reports a ‘robust performance’ in the six months ended December 31, ‘despite activity in the market remaining subdued’. Says it completed 801 home sales, up from 769 homes the year before. Net reservation rates increased on-year to 0.55 per site per week, from 0.41, and the company has a forward order book of 597 plots as of December 31, up from 586 one year prior. Says that Gleeson Partnership ‘continues to see strong interest from both private rental investors and housing associations, though most of the latter remain unable to commit to transactions pending the government’s new funding settlement’. Adds that Gleeson Land did not complete any sales during the period, but ‘demand for prime consented sites continues to be strong’.
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SMALL-CAP - LOSERS
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Funding Circle Holdings PLC, down 0.4% at 117p, 12-month range 26.4p-146p. The London-based lending platform focused on small and medium enterprises says it ‘delivered a good performance in the second half of the year, consistent with the board’s expectations’. Says it therefore expects to deliver positive pretax profit for 2024, in line with previous guidance, and remains on track to meet its medium-term guidance. Intends to publish its 2024 earnings on March 6. Adds that it has repurchased shares worth around £10 million to date, as part of the £25 million buyback announced in October. CEO Lisa Jacobs comments: ‘Last March we set out a plan to be a simpler, leaner and profitable business whilst continuing to show strong growth. We successfully completed the sale of the US business in July, have simplified the UK business and delivered on our upgraded guidance. We enter 2025 well-placed to make further progress against our medium-term plan and help get finance to even more SMEs.’
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