FTSE 250 movers: Crest Nicholson down on results; Centamin gains

London’s FTSE 250 was down 2.3% at 17,244.47 in afternoon trade on Wednesday.

Housebuilder Crest Nicholson was under the cosh after it reported a slump in half-year revenue and profit as it took a hit from the Covid-19 pandemic, and said full-year profit was set to fall.

In the six months to 30 April, revenue slid 52.2% to £240m, with adjusted pre-tax profit down 93% to £4.5m. The number of completed homes fell 34.7% to £775, forward sales declined to £575,1m from £636.9m and the open market average selling price was down 16.7% to £344,000.

The company said the coronavirus crisis has "significantly" impacted its half-year performance, with revenue and profit both lower than it expected as a substantial number of private completions planned for the end of April have been postponed.

Oilfield services firm Petrofac was in the red after it said its group order backlog fell 13% at the end of May as it warned of a significant impact on its engineering division from the coronavirus pandemic.

Elsewhere, pub group Mitchells & Butlers was also weaker, having rallied on Tuesday ahead of Boris Johnson’s announcement about the reopening of pubs on 4 July.

On the upside, gold miner Centamin was trading higher as gold prices advanced.

FTSE 250 - Risers

FDM Group (Holdings) (FDM) 977.00p 5.17%
AO World (AO.) 143.00p 3.62%
Euromoney Institutional Investor (ERM) 834.00p 1.09%
Centamin (DI) (CEY) 178.50p 0.71%
Softcat (SCT) 1,073.00p 0.66%
Gamesys Group (GYS) 868.00p 0.46%
Dechra Pharmaceuticals (DPH) 2,882.00p 0.42%
NextEnergy Solar Fund Limited Red (NESF) 107.60p 0.37%
Apax Global Alpha Limited (APAX) 139.40p 0.29%
Trainline (TRN) 500.00p 0.28%

FTSE 250 - Fallers

Crest Nicholson Holdings (CRST) 219.00p -12.68%
Petrofac Ltd. (PFC) 197.10p -10.57%
Micro Focus International (MCRO) 429.00p -9.49%
Watches of Switzerland Group (WOSG) 277.00p -7.67%
Ascential (ASCL) 281.20p -7.50%
Cairn Energy (CNE) 115.60p -7.37%
Wood Group (John) (WG.) 204.20p -6.76%
Frasers Group (FRAS) 309.40p -6.75%
Mitchells & Butlers (MAB) 206.00p -6.36%
Energean (ENOG) 453.50p -6.20%