FTSE 250 movers: Aston Martin motors; Elementis slides

(Sharecast News) - FTSE 250 (MCX) 22,508.72 0.11%

On the downside, Elementis reversed earlier gains to trade lower even as the specialty chemicals firm backed its full-year guidance after a "resilient" third quarter.

In an update for the three months to 30 September, Elementis said it was on track to deliver a full-year performance in line with market expectations for adjusted operating profit of $125m despite "ongoing weak market conditions".

The company said it was supported by its 'Elevate Elementis' strategy and positive changes being implemented across the group.

During the quarter, revenue rose about 2% from the prior period to approximately $152m. On a constant currency basis, revenue was flat due to a weaker dollar.

Adjusted operating profit improved against the prior year, it said, driven by self-help and cost-control actions.

In the personal care segment, sales were flat on constant currency basis, with positive price and volume impacts helping to offset the negative impact of mix in the period.

Coatings sales were also flat on a constant currency basis due to volume and mix weakness in the Americas. This was partially offset by price improvements, Elementis said.

Meanwhile, the energy business continues to perform "strongly" with volumes, pricing and mix higher than the prior year period.

Elementis said it was on track to deliver $12m in cost savings by the end of this year, completing the $30m of cost savings announced in November 2023 for delivery by the end of 2025.

The company also said that following the successful completion of several significant milestones in his time as chair - including the sale of the Chromium and Talc businesses, the appointment of Luc van Ravenstein as CEO and the launch of the new Elevate Elementis strategy in July - chair John O'Higgins will not seek re-election at the AGM next April.

He will step down as chair and non-executive director immediately after the AGM and further details on the succession plan will be provided in due course, Elementis said.

Luxury car maker Aston Martin Lagonda reversed earlier losses to trade up despite posting a third-quarter loss of £112m on the back of lower-than-expected wholesale volumes as a result of US tariffs. The loss before tax for the three months to 30 September compared with a loss of £12.2m a year ago.

The loss before tax for the three months to September 30 compared with a loss of £12.2m a year ago. Total wholesale volumes fell 13% to 1,430 vehicles as reported three weeks ago when the company issued a profits warning.

Revenues for the first nine months of the year plunged 26% to £740m.

"The global macroeconomic environment facing the wider automotive industry remains challenging," Aston Martin said on Wednesday.

It cited US tariffs and the implementation of the quota mechanism, changes to China's ultra-luxury car taxes and the increased potential for supply chain pressures, particularly following the recent cyber attack at Jaguar Land Rover last month which cost its rival millions in lost revenues.

The fourth quarter was expected to deliver "improved sequential financial performance" supported by higher core volumes and sales of the Valhalla supercar - the first of which was delivered Aston this month.

Aston Martin plans to make 999 of the mid-engined, plug-in hybrid cars, priced at £850,000 each. The company said more than half of the models had already been ordered by customers and aims to deliver 150 by the end of the year to boost earnings.

Total full-year wholesale volumes are expected to decline by mid-to-high single digit percentages compared to 2024's 6,030.

Guidance for full-year adjusted operating losses were unchanged at the lower end of consensus estimates of £110m.

FTSE 250 - Risers

Watches of Switzerland Group (WOSG) 396.00p 3.99% Hochschild Mining (HOC) 337.40p 2.99% Pollen Street Group Limited (POLN) 904.00p 2.73% Aston Martin Lagonda Global Holdings (AML) 66.75p 2.53% Templeton Emerging Markets Inv Trust (TEM) 239.50p 2.35% Polar Capital Technology Trust (PCT) 479.00p 2.35% BlackRock World Mining Trust (BRWM) 668.00p 2.30% THG (THG) 47.72p 2.27% Quilter (QLT) 189.10p 2.27% Allianz Technology Trust (ATT) 542.00p 2.26%

FTSE 250 - Fallers

B&M European Value Retail S.A. (DI) (BME) 184.60p -2.48% WH Smith (SMWH) 696.00p -1.97% Elementis (ELM) 167.60p -1.87% Computacenter (CCC) 2,750.00p -1.86% Wizz Air Holdings (WIZZ) 1,060.00p -1.85% BioPharma Credit (BPCR) 0.89p -1.76% Pinewood Technologies Group (PINE) 368.00p -1.74% Rotork (ROR) 344.60p -1.66% Volution Group (FAN) 673.00p -1.61% Chemring Group (CHG) 575.00p -1.54%