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FTSE 250 movers: PPHE Hotels slumps; Softcat rallies
(Sharecast News) - FTSE 250 (MCX) 21,761.85 -0.45%
Drax tumbled after saying it's being investigated by the Financial Conduct Authority over statements regarding biomass sourcing.
In a brief statement, the company said the regulator has begun an investigation covering the period from January 2022 to March 2024.
It relates to certain historical statements about Drax's biomass sourcing "and the compliance of Drax's 2021, 2022 and 2023 annual reports with the Listing Rules and Disclosure Guidance and Transparency Rules".
On the upside, IT infrastructure firm Softcat rallied after saying it expects to deliver high-teens growth in full-year gross profits and mid-teens growth in FY operating profits as it continued to trade well during the fourth quarter, supported by further conversion of larger solutions projects.
PPHE Hotel Group slumped after flagging margin pressures from normalising room rates and higher costs, as it continued to expand its hotel portfolio and development pipeline.
The FTSE 250 hospitality real estate group posted a 4.7% increase in total revenue to £199.9m in the six months ended 30 June, with like-for-like revenue up 1.3% at £193.3m.
Reported revenue per available room (RevPAR) rose 1.4% to £109.3, reflecting improved occupancy levels, although average room rates softened as travel patterns normalised.
FTSE 250 - Risers
W.A.G Payment Solutions (WPS) 95.60p 6.94% Raspberry PI Holdings (RPI) 438.70p 4.75% Burberry Group (BRBY) 1,318.50p 4.48% JTC (JTC) 979.00p 4.37% Softcat (SCT) 1,623.00p 3.71% Renishaw (RSW) 3,290.00p 3.46% Carnival (CCL) 2,198.00p 3.24% Rank Group (RNK) 136.00p 3.03% Allianz Technology Trust (ATT) 465.00p 2.42% Vesuvius (VSVS) 375.60p 2.29%
FTSE 250 - Fallers
PPHE Hotel Group Ltd (PPH) 1,368.00p -15.56% Hochschild Mining (HOC) 274.80p -10.31% Drax Group (DRX) 650.00p -7.21% RHI Magnesita N.V. (DI) (RHIM) 2,105.00p -6.03% Oxford Nanopore Technologies (ONT) 188.50p -5.61% Crest Nicholson Holdings (CRST) 156.50p -5.09% Zigup (ZIG) 318.00p -5.07% Pagegroup (PAGE) 241.60p -4.43% Bakkavor Group (BAKK) 233.00p -4.12% Endeavour Mining (EDV) 2,476.00p -3.96%
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