Avon Technologies PLC (AVON)

(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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Avon Technologies PLC, up 3.9% at 1,423.79 pence, 12-month range 1,032.00p-1,558.00p. Now expects revenue growth exceeding 10% for the year ending September 30, lifted from its prior guidance for mid-single digit growth. The protective gear company also upgrades its adjusted operating profit margin forecast to above 12% from around 11.5%. "Strong trading momentum has continued through the second quarter, with revenue growth at Team Wendy driven by the planned ramp-up of ACH Gen II helmets to the US [Department of Defense] and good sales growth in Avon Protection across FM54 respirators and underwater rebreathers," the company explains. "This has driven a strong performance for the group overall, with financial results for the six months...expected to show good growth over the prior year." Avon remains "confident" that its Team Wendy arm will finish the year with stronger profit margins going into financial 2026, despite costs from "ramping up production and closing our Californian factory" impacting its first-half results. Meanwhile for Avon Protection, "strong operating profit margins" are supported by "revenue growth, mix and continuous improvement".

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SMALL-CAP - LOSERS

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Evoke PLC, down 18% at 59.10p, 12-month range 49.18p-297.60p. Evoke records a widened pretax loss for 2024, stretching to GBP168.8 million from GBP130.1 million in 2023. The bookmaker's revenue grows 2.3% to GBP1.75 billion during the year from GBP1.71 billion, with adjusted earnings before interest, tax, depreciation and amortisation up 4.3% to GBP312.5 million from GBP299.5 million a year prior. Evoke declares no dividend, unchanged from 2023. Looking ahead, CEO Per Widerstrom says: "2025 is shaping up to be another exciting year for Evoke. While Q1 revenue growth is expected to be low single digit, we remain highly confident in our full year expectations of 5-9% growth in addition to driving further margin expansion as a result of our more efficient operating model. Our exciting product pipeline, continued UK Retail optimisation programme, and ever-improving capabilities around data and personalisation all reinforce my confidence in making further progress in 2025 as we continue to execute against our plans to create significant shareholder value." First-quarter adjusted Ebitda is expected to increase on-year by GBP18 million to GBP28 million, while Evoke continues to target an adjusted Ebitda margin of at least 20% for 2025.

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Aptitude Software Group PLC, down 5.3% at 256.58p, 12-month range 250.00p-390.00p. Pretax profit grows 12% to GBP5.6 million during 2024 from GBP5.0 million in 2023, as operating costs reduce 7.2% to GBP64.4 million from GBP69.4 million. Revenue, however, falls 6.3% to GBP70.0 million from GBP74.7 million. The provider of autonomous finance software solutions declares an unchanged final dividend of 3.6 pence per share, leaving the total dividend for the year also unchanged on-year at 5.4p. "The group has delivered a robust performance amidst an ongoing strategic transition of the business, demonstrating continued annual recurring revenue growth, strong pipeline progression and operational efficiency while building the foundations for accelerated success in the future," says Aptitude. ARR at the year-end was up 1.6% on-year to GBP52.1 million from GBP51.3 million. The company is targeting a transition to a partner-led model, from its current dependence on in-house implementation services. As the shift is expected to hit earnings in the short-term, 2025 revenue and profit are anticipated at a similar level to 2024, before returning to growth in 2026.

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By Emily Parsons, Alliance News reporter

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