FTSE 250 movers: Cineworld has a blockbuster, commiserations for Card Factory

London's second-tier index was up 0.05% at 20,781.92 in afternoon trade on Thursday.

Top of the FTSE 250 leaderboard was Cineworld after the cinema operator reported a jump in interim profit, boosted by its acquisition of Regal Entertainment. In the six months ended 30 June, reported pre-tax profits increased 164.8% to $160.2m on revenue up 252% to $1.86bn on the previous year, with cinema admissions having grown to 123m from 50.7m in the same period a year ago.

Trundling higher in a low gear, The AA said it remained on course to reach its full year profits and cash flow targets despite the extreme weather obstacles in the first half. In the six months ended 31 July, the roadside assistance division saw a 1% dip in paid membership numbers, a large rise in breakdowns, but better performance from the motor and home insurance arms. Analysts at Liberum reiterated a 'buy' rating for the shares with a target price of 140p.

Meanwhile, Capita was in the fast lane, fuelled by a Jefferies upgrade from 'hold' to 'buy', highlighting the potential of the outsourcer's software division. Analysts said they remained cautious on the outlook for the UK sector as attrition is expected to remain elevated, felt the recent interim results "removed investor euphoria" due to weak cash flow and a softer growth narrative, but said Capita's FY20 margin guidance may be conservative.

UDG Healthcare was also boosted as Jefferies upgraded its shares to buy with a target price of 890p after the company on Wednesday reported its second quarter performance had bettered that of last year.

Investors were seeing the positives in Spirax-Sarco Engineering, the day after the manufacturer reported strong first-half operating profit growth. Analysts at Numis said it was "another half of excellent progress" with an acceleration of management's planned investments for growth due to the better than expected interim sales growth.

Hill & Smith also bounced a little after a big fall the day before when results disappointed.

Leading Thursday's fallers, Card Factory experienced the most dramatic drop in afternoon trade after the greetings card retailer said it expects full-year underlying earnings to drop on the previous year due to Brexit uncertainty and blamed weather conditions. The group now expects full-year underlying earnings before interest, taxes, depreciation and amortisation to fall between £89m and £91m "dependent on the key fourth quarter trading period", down from last year's £94m.

G4S also saw its shares drop after reporting a "step change" in revenue growth in the second quarter of the year. The security services firm reported revenues down 7.5% to £3.67bn, which reflected disposals and exchange rate movements, while adjusted profit before interest, tax and amortisation fell by 10.5% to £213m.

Shares in Savills were gazumped after first-half profits fell 18% on the back of increased investment and tough market conditions, though the estate agency backed its full-year expectations. Broker Peel Hunt noted that the shares performed well in 2017, with a rally of 42%, but are down 13% year-to-date, putting them on a price-to-earnings ratio under 12, with a free cash flow yield of above 7% and a dividend yield of almost 4%. "We continue to like the business model and see attractive medium to long term growth for the business but can't get hugely excited about the current valuation."

Spire Healthcare Group's shares continued to fall after the company released a profit warning on Monday due to lower referrals from the NHS and on Wednesday received a double downgrade to 'sell' from Berenberg.

Jupiter Fund Management was lower as it was one of many companies whose shares went ex-dividend.

Market Movers
FTSE 250 (MCX) 20,781.92 0.05%

FTSE 250 - Risers
Cineworld Group (CINE) 301.20p 8.97%
Capita (CPI) 135.00p 5.22%
Spirax-Sarco Engineering (SPX) 7,105.00p 4.18%
Hill & Smith Holdings (HILS) 1,144.92p 3.89%
Ferrexpo (FXPO) 175.85p 3.56%
Centamin (DI) (CEY) 114.23p 2.77%
UDG Healthcare Public Limited Company (UDG) 754.00p 2.65%
On The Beach Group (OTB) 426.50p 2.65%
AA (AA.) 117.15p 2.58%
Games Workshop Group (GAW) 3,198.80p 2.53%

FTSE 250 - Fallers
Card Factory (CARD) 189.82p -9.95%
G4S (GFS) 258.10p -8.48%
Spire Healthcare Group (SPI) 159.60p -7.59%
Savills (SVS) 827.00p -4.28%
Mediclinic International (MDC) 485.00p -3.92%
Jupiter Fund Management (JUP) 420.30p -3.00%
Redrow (RDW) 530.00p -2.75%
Ashmore Group (ASHM) 366.20p -2.50%
Contour Global (GLO) 238.00p -2.46%
Alfa Financial Software Holdings (ALFA) 161.00p -2.42%