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Share Price: 224.00

Bid: 224.00

Ask: 226.00

Change: 1.00 (0.45%)

Spread: 2.00 (0.893%)

Open: 225.00

High: 225.00

Low: 224.00

Prev. Close: 223.00

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SMALL-CAP WINNERS & LOSERS: Cost fear weighs on Gym Group; Norcros up

Wed, 09th Nov 2022 10:46

(Alliance News) - 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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Norcros PLC, up 3.1% at 180.50 pence, 12-month range 165.00p-349.00p. The bathroom and kitchen products supplier reports half-year revenue growth. Revenue increases 9.5% year-on-year to GBP219.9 million from GBP200.9 million. Pretax profit, however, declines 21% to GBP14.0 million from GBP17.7 million, as acquisition related costs jump to GBP4.9 million from GBP1.9 million. Interim revenue amounts to a company record and is up 20% compared to pre-virus levels, on a constant currency, like-for-like basis.

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Georgia Capital PLC, up 4.0% at 680.00 pence, 12-month range 430.00p-742.00p. Its net asset value at the end of the third quarter of 2022 improves 8.2% to GEL57.04 from GRL52.71 in June. In sterling terms, the NAV per share increases 26% to GBP18.55 from GBP14.78. Georgia Capital notes Georgian lari strengthened against the pound during the quarter, appreciating by 16%.

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SMALL-CAP - LOSERS

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Dignity PLC, down 4.5% at 425.00p, 12-month range 320.00p-774.00p. The funeral provider's revenue and profit have been hurt by "fluctuations in the death rate". Underlying revenue in the 39 weeks to the end of September falls 14% to GBP204.7 million from GBP237.0 million a year earlier. Underlying operating profit drops 68% to GBP14.1 million from GBP43.4 million.

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Gym Group PLC, down 11% at 110.44p, 12-month range 103.20p-295.00p. Membership numbers are up and revenue has surged so far in 2022. In the ten months to October 31, revenue has jumped 78% year-on-year to GBP143.2 million from GBP80.5 million. Membership numbers amounted to 838,000 at the end of October, up 17% from 718,000 at the end of 2021. However, fears of rising costs have hit share in the low-cost gym operator. "Looking forward, energy volumes are 100% hedged up to the end of Q1 2023; overall 63% are hedged for 2023 and our current expectation is that utility costs will rise by GBP8-10 million in 2023 compared to 2022.

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By Eric Cunha; ericcunha@alliancenews.com

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SMALL-CAP WINNERS & LOSERS: Cost fear weighs on Gym Group; Norcros up

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