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FTSE 250 movers: Savills, Rank on the slide despite results
(Sharecast News) - FTSE 250 (MCX) 21,800.18 -0.24% Real estate advisor Savills reversed earlier gains as it reported a rise in first-half profit and revenue, pointing to a strong first-quarter performance but a more subdued transactional market in the second quarter.
In the half year to 30 June, reported pre-tax profit jumped 78% to £15.8m, while underlying pre-tax profit was 10% higher at £23.3m.
Revenue rose 6% on the same period a year earlier to £1.1bn and the interim dividend was lifted 4% to 7.4p a share.
Revenue grew 9% in EMEA and 5% in APAC, but was down 6% in North America.
The real estate advisor said transaction advisory revenue ticked up 2%, reflecting a strong recovery in Q1 which slowed in the second quarter.
Shares in Rank Group were sliding, even after it reported a sharp rise in annual revenue and profit on Thursday, underpinned by strong returns on targeted investments and aided by the passing of land-based casino reforms.
For the year ended 30 June, like-for-like net gaming revenue (NGR) rose 11% to £795.3m, with all business segments in growth.
Underlying like-for-like operating profit increased 38% to £63.7m, lifting operating margins to 8% from 6.5%.
Statutory operating profit jumped to £67.0m from £29.4m, while profit before tax surged 248% to £53.9m.
FTSE 250 - Risers
Ocado Group (OCDO) 369.70p 4.49% W.A.G Payment Solutions (WPS) 86.80p 4.33% Aston Martin Lagonda Global Holdings (AML) 75.20p 2.73% Balfour Beatty (BBY) 565.00p 2.17% Senior (SNR) 200.50p 1.78% VinaCapital Vietnam Opportunity Fund Ltd. (VOF) 488.00p 1.67% Helios Towers (HTWS) 123.20p 1.65% TP Icap Group (TCAP) 280.50p 1.63% Chrysalis Investments Limited NPV (CHRY) 126.00p 1.61% IP Group (IPO) 59.30p 1.54%
FTSE 250 - Fallers
Savills (SVS) 904.00p -7.28% Harbour Energy (HBR) 225.40p -5.29% The Renewables Infrastructure Group Limited (TRIG) 77.30p -4.45% Investec (INVP) 532.00p -4.06% Rank Group (RNK) 140.00p -3.98% Abrdn (ABDN) 194.60p -3.85% Assura (AGR) 47.76p -3.32% Raspberry PI Holdings (RPI) 397.90p -3.23% Keller Group (KLR) 1,330.00p -2.92% Greencoat UK Wind (UKW) 114.80p -2.63%
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