SMALL-CAP WINNERS & LOSERS: Bakkavor profit jumps; Halfords HGV strife

(Alliance News) – The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday. SMALL-CAP – WINNERS Bakkavor Group PLC, up 6.3% at 118.00 pence, 12-month range 54.00p-143.80p.

The fresh prepared food company books pretax profit of GBP34.6 million in the first half of 2021, multiplying from GBP6.8 million in the same period last year. Revenue rises 4.0% to GBP915.7 million from GBP880.5 million. Bakkavor notes strong demand for fresh prepared food in the US, where like-for-like sales grow 32% in the half-year.

Like-for-like sales grow 2.4% in the UK. U&I Group PLC, up 5.7% at 85.60 pence, 12-month range 50.96p-102.00p. The London-based property regeneration developer and investor notes the Greenwich Planning Committee grants planning permission for a GBP770 million development project at Modern Wharf.

The development will deliver 1,500 new homes as well as retail space, a brewery and a landscaped park along the River Thames. SMALL-CAP – LOSERS Halfords Group PLC, down 3.5% at 339.02p, 12-month range 171.83p-441.80p.

The retailer, best known for selling bikes and cycling equipment, posts sales growth of 11% year-on-year for the 20-week period ended August 20, and a rise of 19% compared to two years ago. Growth in Retail Motoring and Retail Cycling are listed as factors behind the improvement. However, Halfords warns of ongoing supply-side challenges, including factory production constraints and raw material inflation.

Freight disruption and recruitment difficulties in respect of HGV drivers are also issues. By Eric Cunha; ericcunha@alliancenews.com Copyright 2021 Alliance News Limited.

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