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Pin to quick picksCapital & Regional Share News (CAL)

Share Price Information for Capital & Regional (CAL)

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Share Price: 62.40
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SMALL-CAP WINNERS & LOSERS: MJ Gleeson expects to outperform views

Mon, 11th Jul 2022 10:42

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.

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SMALL-CAP - WINNERS

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Capital & Regional PLC, up 4.5% at 59.76 pence, 12-month range 54.00p-76.60p. The retail property investor completes the sale of the residential development project at its 17&Central community shopping centre in Walthamstow, London, to the residential developer Long Harbour for GBP21.65 million. This disposal is in line with the company's strategy of seeking ways to create value from its portfolio assets through the reconfiguring or repurposing of underutilised space for other uses, which also help drive footfall and operational performance. The group plans to use the majority of the proceeds received to further reduce its loan facility within The Mall Limited Partnership.

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MJ Gleeson PLC, up 3.1% at 530.00p, 12-month range 490.00p-910.00p. The housebuilder says full-year results will be "significantly" ahead of expectations. The Sheffield-based land investor says its average selling price stood 15% higher than a year ago at GBP167,300 in its financial year ended June 30, due to a 12% increase in underlying selling prices and changes in mix. In its second half, it sold 1,068 homes, up 24% from 861 a year ago. "Following such a strong performance, the board expects the results for the financial year to 30 June 2022 to be significantly ahead of market expectations and remains confident in the group's future prospects," says MJ Gleeson. In addition, says it has started the new financial year in a strong position.

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Restaurant Group PLC, up 0.9% at 43.96p, 12-month range 41.34p-130.20p. Deutsche Bank starts coverage on the Wagamama and Frankie & Benny's owner with 'hold' rating.

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SMALL-CAP - LOSERS

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Go-Ahead Group PLC, down 2.5% at 1,530.40p, 12-month range 450.60p-1,668.00p. The transport operator says it expects a "busy summer ahead" as passenger numbers surge as Covid-19's grip on the market weakens. Both its Regional Bus and London & International Bus units impressed in the year ended July 2, the company says. Elsewhere, Go-Ahead expects UK rail profit before exceptional items within a GBP25 million to GBP30 million range. In International Rail, it forecasts an operating loss before exceptional items within a GBP15 million to GBP20 million range.

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By Arvind Bhunjun; arvindbhunjun@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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