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FTSE 250 movers: Ascential, Investec make gains on upbeat earnings

Fri 22 Sep 2023 14:45

(Sharecast News) - Investec on Friday said it expected to post higher earnings for the first half of the year, boosted by the now-completed merger of its UK wealth and investment business with Rathbones, higher global interest rates and growth in average lending books.

Adjusted pre-tax operating for the six months to August 31 was expected to be in a range of £428.7m- £449.6m, compared with £405m a year ago.

The UK business' adjusted operating profit is expected to be at least 25% higher than the prior period's £174.4 million.

Rathbones merger with Investec W&I was completed on Thursday, creating one of the largest discretionary wealth managers in the UK, with £100bn in combined assets.

Information, analytics and e-commerce company Ascential reported gained on a rise in adjusted first-half core profit.

The group reported revenues of £307.4m, an increase from the previous year's £260.7m, marking a reported revenue jump of 18%.

Adjusted EBITDA rose to £78.6m from the previous £67.2m with a margin of 25.6%.

Market Movers

FTSE 250 (MCX) 18,636.33 -0.01% FTSE 250 - Risers

Ascential (ASCL) 203.20p 6.78% Trainline (TRN) 271.40p 4.14% Investec (INVP) 489.60p 3.73% TP Icap Group (TCAP) 171.90p 3.37% Coats Group (COA) 82.00p 3.27% NCC Group (NCC) 106.20p 3.11% C&C Group (CDI) (CCR) 144.20p 3.00% Rathbones Group (RAT) 1,800.00p 2.86% Mobico Group (MCG) 87.35p 2.10% Ninety One (N91) 173.10p 2.06%

FTSE 250 - Fallers

Drax Group (DRX) 470.20p -3.94% SSP Group (SSPG) 217.80p -3.20% Petershill Partners (PHLL) 156.00p -2.99% Ceres Power Holdings (CWR) 339.00p -2.53% Hilton Food Group (HFG) 773.00p -2.28% Apax Global Alpha Limited (APAX) 163.60p -2.27% PureTech Health (PRTC) 216.50p -2.26% TUI AG Reg Shs (DI) (TUI) 482.20p -2.23% IP Group (IPO) 59.20p -2.15% Hipgnosis Songs Fund Limited NPV (SONG) 83.90p -1.87%

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