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FTSE 250 movers: Volution surges on results; Spirent claws back some ground
(Sharecast News) - London's FTSE 250 was up 0.7% at 17,612.60 in afternoon trade on Thursday. Ventilation products supplier Volution surged as it reported a rise in full-year revenue and profit, pointing to solid demand.
In its preliminary results for the year to the end of July, the company said adjusted pre-tax profit increased 6.8% to £65.1m, with revenues up 6.6% at £328m. The company noted that 60% of revenue now comes from non-UK customers.
Volution proposed a total dividend for the year of 8p a share, up 9.6%.
Royal Mail parent International Distribution Services was higher after Goldman Sachs upped its price target on the shares to 369p from 341p.
Ferrexpo rose as the Ukraine-focused iron ore miner reported a big jump in output during its third quarter despite ongoing challenging conditions in the war-torn country.
Spirent Communications was in the black, having tumbled on Wednesday after cutting its near-term outlook.
Recruiter Hays fell as it went ex-dividend.
FTSE 250 - Risers
Volution Group (FAN) 382.40p 13.61% International Distributions Services (IDS) 258.00p 6.79% Ferrexpo (FXPO) 74.95p 5.49% Wizz Air Holdings (WIZZ) 1,932.00p 4.43% Chemring Group (CHG) 269.50p 4.05% easyJet (EZJ) 438.90p 3.91% Spirent Communications (SPT) 93.55p 3.83% Genus (GNS) 2,092.00p 3.67% Ascential (ASCL) 225.00p 3.31% Grainger (GRI) 235.00p 3.25%
FTSE 250 - Fallers
Oxford Instruments (OXIG) 1,960.00p -4.62% Hays (HAS) 102.50p -3.21% Bluefield Solar Income Fund Limited (BSIF) 113.40p -2.91% Morgan Sindall Group (MGNS) 1,906.00p -2.36% Bank of Georgia Group (BGEO) 3,435.00p -2.28% Aston Martin Lagonda Global Holdings (AML) 258.80p -2.12% Jupiter Fund Management (JUP) 89.10p -1.76% Bodycote (BOY) 612.50p -1.37% Helios Towers (HTWS) 73.00p -1.35% Bytes Technology Group (BYIT) 480.20p -1.32%
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