(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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Treatt PLC, up 8.8% at 440.00 pence, 12-month range 365.29p-731.00p. Treatt is a Suffolk, England-based manufacturer and supplier of extracts and ingredients for the beverage, flavour and fragrance industries. The company estimates pretax profit for the six months that ended March 31 to be around GBP7.5 million, marginally ahead of the GBP7.3 million delivered a year before. However, Treatt expects half-year revenue to reach GBP72.1 million, down 5.1% from GBP76.0 million. It said this reflects the destocking experienced in the first quarter. Looking ahead, Treatt says it has a "solid sales order book" and a "healthy sales pipeline" going into the second half of financial 2024. It also expects its full-year pretax profit to be in line with the board's guidance.

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XP Power Ltd, up 5.8% at 1,048.00p, 12-month range 682.40p-2,489.20p. Order intake in the first quarter of 2024 falls 29% to GBP43.7 million from GBP61.2 million a year earlier. Revenue drops 17% to GBP64.6 million from GBP77.9 million. Looking ahead, XP left its full year expectations unchanged. "As expected, revenue in Q2 is likely to be slightly lower than Q1 due to ongoing customer destocking, and we continue to expect trading to improve during 2024 as channel stock levels reach equilibrium and as demand for Semiconductor Manufacturing Equipment begins to increase. Order intake in Q2 will provide greater clarity on the timing and trajectory of this improvement," the company says.

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SMALL-CAP - LOSERS

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Speedy Hire PLC, down 5.0% at 24.09p, 12-month range 22.50p-38.95p. The tool and equipment hire services firm falls, following a trading update. In the year ended March 31, revenue fell by 5% annually to GBP420 million. It says results were hurt by the underperformance of its Regional base, the reduction in wholesale fuel prices, and the performance of its seasonal products, which were affected by the warmer winter period. Speedy Hire notes that results look to be at the lower end of company expectations, but its outlook for financial 2025 remains positive given recent contract wins.

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By Sophie Rose, Alliance News senior reporter

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