FTSE 250 movers: Crest Nicholson gains on update; Biffa slumps
London’s FTSE 250 was up 0.4% at 23,536.55 in afternoon trade on Thursday.
Housebuilder Crest Nicholson was sitting pretty at the top of the index as it lifted its full-year profit expectations as the contribution from the sale of its share in the Surrey Longcross film studio was more than expected.
In an update for the 12 months to the end of October, the company said it now expects FY21 adjusted pre-tax profit to be "marginally ahead" of consensus of £101.2m. The group hailed a strong sales performance throughout the second half of the year, with current sales rates remaining robust across all regions.
Peers Bellway and Redrow also gained.
Waste management company Biffa slumped even as it reinstated its dividend and backed full-year expectations as it said adjusted operating profit returned to pre-pandemic levels in the first half.
Broker Peel Hunt downgraded its stance on the firm to ‘hold’ from ‘add’ and cut the price target to 395p from 430p after the interim results. It said the results were in line overall but the performance of recent acquisition Company Shop Group has disappointed.
Rotork slumped after the flow control and instrumentation maker said second-half revenue would be squeezed as supply-chain pressures continued.
FTSE 250 - Risers
Crest Nicholson Holdings (CRST) 350.00p 4.79%
Bellway (BWY) 3,260.00p 4.39%
Playtech (PTEC) 772.00p 4.18%
Watches of Switzerland Group (WOSG) 1,358.00p 3.98%
Baltic Classifieds Group (BCG) 210.00p 3.45%
Big Yellow Group (BYG) 1,553.00p 2.85%
Drax Group (DRX) 565.00p 2.73%
Great Portland Estates (GPOR) 755.00p 2.72%
Redrow (RDW) 652.20p 2.71%
Marks & Spencer Group (MKS) 233.80p 2.68%
FTSE 250 - Fallers
Biffa (BIFF) 354.50p -10.25%
Rotork (ROR) 346.00p -6.94%
Petropavlovsk (POG) 22.80p -3.23%
Trustpilot Group (TRST) 296.80p -3.20%
Airtel Africa (AAF) 131.60p -3.16%
Aston Martin Lagonda Global Holdings (AML) 1,639.00p -2.76%
Ferrexpo (FXPO) 285.60p -2.46%
Harbour Energy (HBR) 374.40p -2.40%
Hochschild Mining (HOC) 169.30p -2.36%
Trainline (TRN) 294.80p -2.25%