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FTSE 250 movers: ITV surges on results; Pennon goes ex-div
(Sharecast News) - London's FTSE 250 was 0.5% higher at 22,120.25 in afternoon trade on Thursday. Broadcaster ITV posted a drop in first-half profits and revenue and announced further cost-cutting measures, but shares rose to the top of the index as results were ahead of expectations.
In the six months to 30 June, group adjusted earnings before interest, tax and amortisation fell 31% to £146m, on revenue of £1.8bn, down 3%. Adjusted pre-tax profit declined 44% to £99m and total advertising revenues were down 7% to £824m.
ITV said the comparison with the same period a year earlier was impacted by a "very strong" advertising period in H1 2024, driven by the Men's Euros.
Howden Joinery advanced after it posted a jump in first-half profit and revenue as it continued to gain market share despite a challenging market.
IG Group rose as the online trading platform reported an increase in full-year profit and revenue as trading volumes and revenue per customer rose.
In the year ended 31 May, adjusted pre-tax profit rose 17% to £535.8m, with total revenue up 9% to £1.08bn, reflecting "supportive market conditions and good initial progress" implementing its strategy.
Wickes and Volution also gained after results and a trading update, respectively.
On the downside, water utility Pennon slid as it traded without entitlement to the dividend.
Molten metal flow engineering company Vesuvius tanked as it said market conditions remained challenging and that it does not expect an improvement in its performance until 2026.
FTSE 250 - Risers
ITV (ITV) 86.60p 11.74% Howden Joinery Group (HWDN) 920.00p 10.11% IG Group Holdings (IGG) 1,135.00p 7.18% Future (FUTR) 774.00p 5.31% Oxford Nanopore Technologies (ONT) 196.50p 4.41% Wickes Group (WIX) 230.00p 4.31% Aston Martin Lagonda Global Holdings (AML) 84.20p 3.95% Genuit Group (GEN) 405.50p 3.44% Volution Group (FAN) 653.00p 3.32% Grafton Group Ut (CDI) (GFTU) 935.80p 3.29%
FTSE 250 - Fallers
Pennon Group (PNN) 500.00p -6.10% Hochschild Mining (HOC) 276.40p -4.56% Telecom Plus (TEP) 1,920.00p -3.61% Vesuvius (VSVS) 373.80p -3.61% Ocean Wilsons Holdings Ltd. (OCN) 1,435.00p -2.71% North Atlantic Smaller Companies Inv Trust (NAS) 393.00p -2.24% Bridgepoint Group (Reg S) (BPT) 316.20p -2.17% Discoverie Group (DSCV) 697.00p -2.11% Foresight Solar Fund Limited (FSFL) 90.40p -2.06% Sequoia Economic Infrastructure Income Fund Limited (SEQI) 80.30p -1.95%
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