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FTSE 250 movers: Discoverie surges, B&M tanks
(Sharecast News) - FTSE 250 (MCX) 21,072.41 0.26% Discoverie, said on Wednesday that it had delivered a "strong through-cycle performance" in the year ended 31 March, with both earnings and cash flow hitting record levels.
Adjusted operating profits were up 6% at £60.5m and adjusted pre-tax profits improved 4% to £50.1m as a 1.2 basis point improvement to 14.3% in adjusted operating margins helped to offset a 3% decline in revenue to £422.9m.
Ninety One reported a resilient full-year performance despite a challenging market environment on Wednesday, with signs of momentum returning in the second half of the year.
For the 12 months ended 31 March, the firm recorded net outflows of £4.9bn, driven by £5.3bn in outflows in the first half.
On the downside, discount retailer B&M European Value Retail slumped as it reported a slight rise in full-year earnings against a "challenging" economic backdrop. Adjusted earnings before interest, tax, depreciation and amortisation rose 0.6% to £620m, while revenue grew 3.7% to £5.57bn.
WH Smith gained after saying it was well positioned for the peak summer trading period as a pure play travel retailer and posting a 5% increase in total revenue for the 13 weeks to the end of May.
Chemring surged again after results on Wednesday revealed a record order book as nations ramped up defence spending.
Market Movers
FTSE 250 - Risers
Discoverie Group (DSCV) 712.00p 12.48% Ninety One (N91) 173.10p 6.72% Chemring Group (CHG) 551.00p 6.17% JTC (JTC) 846.00p 4.70% WH Smith (SMWH) 1,060.00p 3.52% W.A.G Payment Solutions (WPS) 74.40p 3.33% Watches of Switzerland Group (WOSG) 430.60p 3.26% Wizz Air Holdings (WIZZ) 1,648.00p 3.06% NextEnergy Solar Fund Limited Red (NESF) 68.50p 3.01% Trustpilot Group (TRST) 234.60p 2.80%
FTSE 250 - Fallers
B&M European Value Retail S.A. (DI) (BME) 293.40p -11.63% THG (THG) 25.66p -8.03% Mobico Group (MCG) 30.26p -5.14% IG Group Holdings (IGG) 1,065.00p -3.18% Patria Private Equity Trust (PPET) 531.00p -3.10% Abrdn (ABDN) 174.80p -2.62% Ferrexpo (FXPO) 49.70p -2.55% Safestore Holdings (SAFE) 625.00p -2.34% Energean (ENOG) 904.00p -2.16% CMC Markets (CMCX) 282.50p -1.91%
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