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FTSE 250 movers: Bytes Tech tanks; Oil stocks gush
(Sharecast News) - FTSE 250 (MCX) 21,240.27 -0.03%
Shares in Bytes Technology slumped on Tuesday after the IT reseller said operating profit this year would be broadly flat on the back of higher costs.
In a trading update for the 12 months to February 28, Bytes said that gross invoiced income growth was in double digits, with gross profit of £167m and operating profit of £62m.
Cash conversion exceeded 100%, with a year-end cash balance of over £98m.
The 2025-26 financial year was impacted by changes to Microsoft enterprise incentives and the phasing effects of the group's realignment to private sector sales. Gross profit grew 6% year-on-year in January and February 2026 against a strong comparator.
"For full-year 2027, we expect high single-digit to low double-digit percentage growth in gross profit, with operating profit broadly flat as the group absorbs £4.5m of cost normalisation, reflecting higher technology costs following the completion of strategic projects and a return to normal bonus levels, on top of continued headcount investment for growth," Bytes said.
Bellway fell after posting a rise in first-half profit and completions and lifted its full-year volume output guidance but trimmed its operating margin expectations for the year. It also noted that the ongoing conflict in the Middle East had led to the return of volatility in the mortgage market.
Trustpilot tanked after Advent Global Opportunities sold just over 21.59m shares in the company in a placing.
Diversified Energy and Harbour Energy gained on the back of firmer oil prices
FTSE 250 - Risers
Diversified Energy Company (DI) (DEC) 1,280.00p 9.42% Harbour Energy (HBR) 292.20p 3.39% Applied Nutrition (APN) 211.00p 3.17% C&C Group (CDI) (CCR) 107.20p 3.08% BlackRock World Mining Trust (BRWM) 844.00p 2.93% Pan African Resources (PAF) 128.60p 2.55% RHI Magnesita N.V. (DI) (RHIM) 2,435.00p 2.53% Trainline (TRN) 215.00p 2.48% Oxford Nanopore Technologies (ONT) 118.30p 2.34% Endeavour Mining (EDV) 4,090.00p 2.10%
FTSE 250 - Fallers
Bytes Technology Group (BYIT) 255.00p -14.55% Trustpilot Group (TRST) 200.80p -14.08% Bellway (BWY) 1,878.00p -11.60% Gamma Communications (GAMA) 768.00p -8.17% Raspberry PI Holdings (RPI) 294.20p -7.93% Aston Martin Lagonda Global Holdings (AML) 38.04p -5.18% Ocado Group (OCDO) 186.90p -3.00% Currys (CURY) 130.50p -2.61% Energean (ENOG) 818.50p -2.55% The Renewables Infrastructure Group Limited (TRIG) 64.70p -2.27%
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