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FTSE 250 movers: Aston Martin motors; Pets at Home tumbles
(Sharecast News) - FTSE 250 (MCX) 19,474.38 -1.97%
Pets at Home tumbled as it said profits were set to fall next year as an uncertain economic backdrop and increased costs take their toll.
In an update for the year to 27 March, the company said group underlying pre-tax profit is expected to be £133m, in line with previous guidance. It said fourth-quarter trends have been broadly as expected across the retail and vet segments, "against a challenging and volatile UK consumer backdrop".
For FY26, however, underlying pre-tax profit is expected to decline to between £115m and £125m. Broker Shore Capital said consensus expectations were for growth to £142m.
Luxury car maker Aston Martin surged to the top of the FTSE 250 as it said that chairman Lawrence Stroll's Yew Tree Consortium would plough another £52.5m into the company, lifting its stake to around 33%.
It added that it would also offload its minority stake in the Aston Martin Aramco Formula One racing team, realising a premium to the current book value of about £74m.
"I am pleased to clearly demonstrate my unwavering support and commitment to Aston Martin. Since 2020, my Yew Tree Consortium partners and I have invested around £600m into the company," Stroll said in a statement.
"This proposed investment further underscores my conviction in this extraordinary brand, and commitment to ensuring Aston Martin has the strongest possible platform for creating long-term value while reducing equity dilution via this premium subscription, which should greatly reassure shareholders, as I again increase my long-term ownership in the company.
Close Brothers fell sharply ahead of a Supreme Court decision on whether to uphold the Court of Appeal's October ruling that it was unlawful for banks to pay a commission to a car dealer without the customer's informed consent. The hearings will take place from April 1-3.
Market Movers
FTSE 250 - Risers
Aston Martin Lagonda Global Holdings (AML) 69.50p 6.51% Moonpig Group (MOON) 210.50p 1.94% PRS Reit (The) (PRSR) 116.20p 1.40% W.A.G Payment Solutions (WPS) 59.80p 1.01% TI Fluid Systems (TIFS) 199.00p 0.61% Empiric Student Property (ESP) 85.60p 0.59% Twentyfour Income Fund Limited Ord Red (TFIF) 111.80p 0.54% Foresight Environmental Infrastructure Limited (FGEN) 71.50p 0.42% Endeavour Mining (EDV) 1,831.00p 0.38% Renewi (RWI) 857.00p 0.23%
FTSE 250 - Fallers
Pets at Home Group (PETS) 213.60p -9.64% Close Brothers Group (CBG) 272.40p -9.14% Ocado Group (OCDO) 275.10p -6.52% Raspberry PI Holdings (RPI) 467.20p -6.15% Mobico Group (MCG) 58.20p -5.98% Discoverie Group (DSCV) 535.00p -5.81% IP Group (IPO) 40.60p -5.36% Paragon Banking Group (PAG) 732.00p -5.24% International Workplace Group (IWG) 178.10p -5.06% Pagegroup (PAGE) 305.20p -4.74%
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