(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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Goodwin PLC, up 6.7% at 3,191.50p, 12-month range 2,720.00p-3,650.00p. The engineer says it is well placed for a recovery with a "renewed set of bank facilities". For 12 months to April 30, posts revenue of GBP131.2 million, down from GBP144.5 million last year but pretax profit rises to GBP16.5 million versus GBP12.1 million. Goodwin declares full year dividend of 102.24p, up from 81.71p. "Armed with a strong balance sheet and a renewed set of bank facilities we are well placed to benefit from the recovery of the global economy and deliver strong returns on the capital that has been invested to date," it says.
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Provident Financial PLC, up 6.0% at 325.60 pence, 12-month range 168.47p-330.40p. The subprime lender says its pressing ahead with plans to close its troubled Consumer Credit Division. For six months to June 30, revenue down 25% at GBP195.6 million from GBP261.1 million last year and pretax loss widens to GBP44.2 million from GBP28.1 million. However, adjusted pretax profit - which excludes CCD - surges to GBP63.5 million from GBP4.9 million. "We anticipate Provident to take advantage of the increased customer pool for its products through its sector leading brands and its strong capital and liquidity position," analysts at Barclays say.
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Hostelworld Group PLC, up 1.2% at 96.10p, 12-month range 38.80p-119.80p. The hostel booking platform posts interim results in line with expectations. Has seen a modest increase in bookings in recent weeks in line with the easing of travel restrictions. For six months to June 30, revenue slumps to EUR2.9 million from EUR12.0 million last year and pretax loss widens to EUR20.7 million from EUR18.8 million loss. "Similar to the initial recovery observed in Q3 2020, we are seeing swift increases in demand in those destinations where travel restrictions have eased. The recovery started with domestic demand in the US and Australia followed by stronger growth into several European destinations throughout," it says.
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Smiths News PLC, up 1.2% at 42.04p, 12-month range 18.10p-47.50p. The regional newspaper distribution company appoints Paul Baker as new chief financial officer, effective October 4. "Paul is a highly experienced senior executive, with extensive and relevant financial and business transformation experience, most recently as integration director at Compass Group," company says.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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Hostelworld (HSW)
Goodwin (GDWN)
Smiths News (SNWS)