SMALL-CAP WINNERS & LOSERS: Robert Walters profit ahead of forecasts

(Alliance News) - The following stocks are the leading risers and fallers among London Main ...

Alliance News 2 March, 2021 | 11:11AM
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(Alliance News) - 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, up 12% at 62.52 pence, 12-month range 22p-85.2p. The greeting cards retailer continues its strong run this week after rising 21% on Monday. On Friday afternoon, Card Factory said it was in talks with its banking syndicates and noted its banks had provided further waivers in respect of anticipated covenant breaches until March 31, 2021

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Robert Walters PLC, up 4.8% at 544.8p, 12-month range 214p-556p. The recruitment firm reports revenue of GBP938.4 million for 2020, down 23% on GBP1.22 billion in 2019. Pretax profit falls 75% to GBP12.1 million. Says performance "robust" given pandemic backdrop and notes that full-year profit was ahead of market expectations. "Group net fee income was down 26% for the full year but the sequential quarter-on-quarter improvement in net fee income from quarter two onwards, combined with the short-term and targeted cost control measures put in place at the onset of the pandemic, has enabled the group to deliver full-year profits ahead of market expectations," says Chief Executive Robert Walters.

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Devro PLC, up 3.8% at 184.2p, 12-month range 116.76p-195.4p. The manufacturer of collagen products for the food industry reported revenue of GBP247.6 million for 2020, just below the GBP250.0 million reported for 2019. Swings to pretax profit of GBP29.4 million from GBP21.8 million loss in 2019. Adds that new year has started positively and expects to make further progress in 2021.

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SMALL-CAP - LOSERS

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Reach PLC, down 6.9% at 202.96p, 12-month range 47.95p-246p. Extends losses after closing down 8.6% on Monday. The owner of the Daily Mirror, Daily Star and Daily Express on Monday reported 2020 pretax profit of GBP400,000, down from GBP120.9 million in 2019. Revenue fell 15% to GBP600.2 million from GBP702.5 million.

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By Lucy Heming; lucyheming@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Devro PLC 195.00 GBX 0.00 -
Card Factory PLC 80.90 GBX 0.00 -
Robert Walters PLC 656.00 GBX -5.20 -
Reach PLC 219.00 GBX -0.68 -

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