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SMALL-CAP WINNERS: Vp trading in line with full-year consensus

ALN

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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Xaar PLC, up 2.1% at 119.5 pence, 12-month range 59p-145p. Berenberg starts the Cambridge, England-based industrial inkjet manufacturer with a ’buy’ rating, with a 160p price target.

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Vp PLC, up 2.9% at 592.68p, 12-month range 480p-650p. The equipment rental company says that in the first half ended September 30, it delivered a solid performance in challenging macroeconomic conditions. Says it continues to expect a performance in line with market expectations for the year ending March 31, with company-compiled analyst consensus pencilling in revenue of £386.1 million, net debt of £137.3 million, and pretax profit before amortisation and impairment of goodwill, trade names and customer relationships and exceptional items of £37.3 million. Says Transmission activity levels in the Infrastructure end market remain strong, especially in Germany, and prospects for Water are still ‘extremely positive’ although first-half revenue is lower on-year. Rail activity remains subdued, it adds. The company also reports a strong performance in Specialist Construction (for the Construction end market), although the General Construction market is still challenging, and the recovery plan for Brandon Hire Station is progressing well and on track to be completed by the end of the current financial year.

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