FTSE 250 movers: TRIG, miners & oil stocks make gains

(Sharecast News) - FTSE 250 (MCX) 22,821.94 -0.12% Victrex reported a lower first-half profit on Monday, as volume growth was offset by sales mix, pricing and currency headwinds. The company added that it was cutting 10% of its workforce.

Underlying pre-tax profit fell 18% to £19.0m, from £23.2m, or 14% at constant currency, in line with previous guidance.

Underlying earnings per share declined 24% to 17.2p, while underlying operating cash conversion was 109%, compared with 128% a year earlier.

Victrex reported a statutory pre-tax loss of £44.0m, compared with a £17.2m profit a year earlier, after £63m of exceptional items.

That included a £60.6m non-cash impairment of its China manufacturing facility, although the group said it remained committed to the site in what it described as its fastest-growing region.

TRIG gained as the company outlined plans to commits to £400m in asset disposals as it intensifies efforts to address the persistent discount of its shares to net asset value.

The FTSE 250 renewable energy investment company said the proceeds would be used in line with its capital allocation policy, with priorities including share buybacks, reducing revolving credit facility borrowings and funding higher-return internal opportunities within its existing portfolio.

It said it was not pursuing new third-party investments at the current share price.

TRIG reaffirmed its target dividend of 7.55p per share for 2026, alongside its progressive dividend policy, and said it expected sustainable net dividend cover of between 1.1 times and 1.2 times.

Miners were higher as investors sought safe havens as the US dismissed Iran's peace proposal to end the war between the two countries as "unacceptable".

Hochschild, Endeavour and Pan African Resources all made gains of between 4% - 6%. Oil explorers were also higher as crude prices leapt due to the Middle East stalemate with Ithaca and Diversified Energy both up.

FTSE 250 - Risers

Hochschild Mining (HOC) 681.00p 6.24% Endeavour Mining (EDV) 5,004.00p 4.48% Pan African Resources (PAF) 157.20p 4.01% Ithaca Energy (ITH) 271.50p 3.66% BlackRock World Mining Trust (BRWM) 1,024.00p 3.54% Diversified Energy Company (DI) (DEC) 1,178.00p 2.26% Ceres Power Holdings (CWR) 730.00p 2.16% Johnson Service Group (JSG) 140.90p 1.95% Helios Towers (HTWS) 239.20p 1.87% Shawbrook Group (SHAW) 329.50p 1.85%

FTSE 250 - Fallers

WH Smith (SMWH) 490.00p -3.64% B&M European Value Retail (BME) 168.30p -3.22% 4Imprint Group (FOUR) 3,720.00p -2.97% Coats Group (COA) 82.25p -2.55% Baillie Gifford US Growth Trust (USA) 328.50p -2.52% Genuit Group (GEN) 252.80p -2.32% Chemring Group (CHG) 469.40p -2.21% Morgan Advanced Materials (MGAM) 222.00p -2.20% Watches of Switzerland Group (WOSG) 543.00p -2.16% Oxford Biomedica (OXB) 635.00p -2.16%