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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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Applied Nutrition PLC, up 8.5% at 142.3 pence, 12-month range 107.4p-154.8p. The Liverpool, England-based sports nutrition brand expects revenue for the financial year ending July 31 of £107 million, up 24% from £86 million in financial 2024, and ahead of market expectations for £100 million. Adjusted earnings before interest, tax, depreciation and amortisation are expected to increase 19% year-on-year from £26 million a year ago, suggesting adjusted Ebitda of more than £30 million. Applied Nutrition says this was driven by strong second-half trading which contributed around £60 million of revenue. Net cash at July 31 is expected to be ahead of market expectations, coming in at around £18.5 million, compared to £16.6 million consensus. The company also expects revenue for the year ending July, 2026 to be ahead of current expectations of £112.4 million. Chief Executive Thomas Ryder says: ‘We are proud to report that we have exceeded the guidance we gave at our IPO, with our first full-year results expected to come in ahead of market expectations.’ Applied Nutrition was admitted to trading on the London Stock Exchange’s Main Market last October, with the initial public offering priced at 140 pence per share. It expects to announce its full-year results on or around November 10.
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SMALL-CAP - LOSERS
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Nanoco Group PLC, down 1.3% at 13.075p, 12-month range 6.97p-15.17p. The nanomaterials developer and manufacturer says in a trading update that it expects to report full-year revenue of £7.6 million, exceeding the market forecast of £7.2 million. The firm attributes this to additional services and product revenue of around £100,000, plus extra licence revenue of about £300,000 due to accelerated recognition of revenue ‘related to the Samsung licence’ after 13 patents lapsed during the period. It says underlying unaudited adjusted Ebitda is moderately ahead of expectations due to the increased revenue. The company also announces the retirement of Founder & Chief Technology Officer Nigel Pickett, who steps down from the board effective from Tuesday but will stay at Nanoco until February. It promotes Ombretta Masala to succeed Pickett as director of technology, after 18 years at the company during which time she directly reported to Pickett. Masala, Nanoco Technologies Ltd’s Section Head of Nanomaterials since 2008, will not join the board. ‘In Ombretta we have a very capable successor who has significant experience in all aspects of technology development and R&D management,’ says Chair Jalal Bagherli, ‘and she has the capabilities to drive Nanoco through what is an exciting next chapter of commercial growth.’
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