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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Luceco PLC, up 7.3% at 134.3 pence, 12-month range 115.8p-192p. The electrical products supplier says it expects full-year results ahead of market expectations, including around £240 million in revenue for 2024, up from £209 million the year before. Expects adjusted operating profit between £28.5 million and £29.0 million, up from £24.0 million in 2023. Says its brands have performed strongly despite challenging economic conditions. In the fourth quarter, Luceco says the ‘improving trend in order intake experienced in Q3 accelerated...with strong demand driving organic growth’. Looking ahead, Chief Executive John Hornby says: ‘We look forward to further growth in 2025, hopeful of improved end-market demand, but confident that the group is well positioned to make solid progress against its strategic objectives.’
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Zotefoams PLC, up 5.3% at 310.5p, 12-month range 288p-574p. The supercritical foam manufacturer expects to report £147.8 million in revenue for 2024, up 16% from £127.0 million in 2023 and ‘slightly ahead of current market expectations’. Expects adjusted pretax profit to also beat market expectations, rising 19% to a ‘group record’ of £15.6 million from £13.1 million. Credits an 18% increase in the combined profitability of its polyolefin and HPP business units, including Footwear sales rising 46%, and notes an adjusted segment loss of £4.7 million in its MuCell Extrusion unit. Says the latter reflects its expenditure during the year to progress its ReZorce technology, which has now ceased as announced in December.
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SMALL-CAP - LOSERS
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Pharos Energy PLC, down 5.1% at 24.4p, 12-month range 18.7p-27.5p. Says group working interest net production is 5,801 barrels of oil equivalent per day in 2024, down from 6,508 barrels but in line with guidance, including 4,361 barrels per day from Vietnam and 1,440 barrels from Egypt. Full-year revenue totals approximately $134 million, down from $168.1 million, with around $115 million from Vietnam and $19 million from Egypt. For 2025, Pharos expects group working interest net production of between 5,000 and 6,2000 boepd, of which between 3,600 and 4,600 barrels would come from Vietnam and between 1,400 and 1,600 from Egypt. Says it expects drilling activities this year to deliver incremental production volumes in 2026 and beyond.
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