FTSE 250 movers: Wizz soars; Lancashire falls as shares go ex-div

(Sharecast News) - FTSE 250 (MCX) 22,103.77 -0.14% Shares in Wizz Air soared on Thursday despite a warning that full-year revenues would fall, as a forecast-busting increase in interim profits and cost cutting measures taken so far were well received by investors.

The Hungary-based airline forecast a revenue decline in the low-single-digits, citing short-term challenges in winter capacity. Operating profit jumped 25.8% to €439.2m, smashing estimates of €367m. Wizz shares rose more than 8%.

"We will see the most significant changes to our delivery profile in around 12 months time (given near-term orders and financing commitments)," said chief executive Jozsef Varadi.

"As such, we are actively managing this winter season's capacity to deliver circa mid-teens H2 seat capacity growth year on year. In terms of pricing, looking at the current ninety-day booking curve, we are seeing unit revenue approximately down low single digits percentage-wise year on year while the load factor, conversely, is up by a similar level in terms of a percentage points gain."

The company last week delayed delivery of 88 Airbus jets to 2033 from 2030 as it looked to cut costs. Wizz has been hit by an issue with Pratt and Whitney engines with repairs taking longer than expected, and political turmoil the Middle East and Eastern Europe.

Endeavour Mining reported strong third-quarter results on Thursday, saying it remained on track to meet its 2025 production and cost guidance, supported by higher grades, strong gold prices and continued improvements in free cash flow and balance sheet strength.

The FTSE 100 West Africa-focused producer delivered 911,000 ounces of gold in the first nine months of the year, positioning it for the top half of its full-year production target of 1.11 million to 1.26 million ounces.

Third quarter output of 264,000 ounces reflected lower grades and seasonal reductions in mill throughput but was in line with mine sequencing.

Lancashire Holdings, Partners Group, Greencoat UK Wind, C&C Group, GCP Infrastructure Investments, The Renewables Infrastructure Group and International Public Partnerships were all in the red as they traded without entitlement to the dividend.

Market Movers

FTSE 250 - Risers

Endeavour Mining (EDV) 3,528.00p 9.77% Wizz Air Holdings (WIZZ) 1,102.00p 8.68% Keller Group (KLR) 1,576.00p 6.06% Hochschild Mining (HOC) 392.60p 5.99% QinetiQ Group (QQ.) 466.00p 5.48% Ceres Power Holdings (CWR) 400.00p 4.06% International Workplace Group (IWG) 225.40p 3.49% Investec (INVP) 601.00p 2.74% Genus (GNS) 2,445.00p 2.52% Rotork (ROR) 338.00p 2.05%

FTSE 250 - Fallers

Lancashire Holdings Limited (LRE) 597.00p -8.72% Foresight Environmental Infrastructure Limited (FGEN) 63.30p -3.95% Avon Technologies (AVON) 1,900.00p -3.94% Greencoat UK Wind (UKW) 100.10p -3.75% C&C Group (CDI) (CCR) 134.20p -3.73% The Renewables Infrastructure Group Limited (TRIG) 71.90p -3.10% Grafton Group Ut (CDI) (GFTU) 922.80p -3.07% GCP Infrastructure Investments Ltd (GCP) 71.20p -3.00% Pinewood Technologies Group (PINE) 339.00p -2.87% Partners Group Private Equity Limited. (EUR) (PEY) 10.50p -2.78%