FTSE 250 movers: KCOM drops on downbeat trading update
Fri 05 Oct 2012
LONDON (SHARECAST) - Broadband and communications provider KCOM has fallen following a downbeat trading statement prior to its interims. It announced that it is trading “in line with expectations”, but orders in its enterprise division have been below expectations.
KCOM also revealed that first-half net debt has increased as a result of share scheme purchases and planned increases in capital expenditure. At the last year-end (March 31st), net debt was reported as £75m.
Meanwhile, Ferrexpo, the Ukraine-focused iron ore pellet producer, was heading higher as mining companies got a boost following a better-than-expected jobs report from the US.
Hunting was on the rise after Deutsche Bank initiated its coverage with a buy rating, while Man Group was on the up following a buy reiteration from Singer Capital Markets.
Utilities services provider Telecom Plus also gained after dangling the prospect of a sharply increased interim dividend in front of shareholders' eyes after a first-half surge in profits. With the group's business proving to be less seasonal these days the group is moving towards a more even split between its interim and final dividend payments each year.
FTSE 250 - Risers
Homeserve (HSV) 229.20p +6.36%
IP Group (IPO) 125.80p +6.16%
Ferrexpo (FXPO) 208.20p +5.10%
Essar Energy (ESSR) 124.00p +5.08%
Man Group (EMG) 89.60p +4.80%
Bumi (BUMI) 168.00p +4.35%
Imagination Technologies Group (IMG) 517.50p +4.29%
Hunting (HTG) 861.50p +4.17%
Dixons Retail (DXNS) 21.00p +3.96%
Henderson Group (HGG) 114.80p +3.14%