FTSE 250 movers: Auction Tech surges; Pets at Home tanks

FTSE 250 (MCX) 20,583.46 0.07%

Johnson Matthey posted a drop in sales and profits on Wednesday, weighed down by the "challenging" macroeconomic backdrop.

Reported revenues at the chemicals and specialist technologies firm fell 14% in the six months to September end to £5.6bn.

Stripping out disposals, sales fell by 5%, or by 3% on a constant currency basis, to £1.2bn.

Underlying operating profits fell 4% to £154m.

Pets at Home cut its full-year profit outlook on Wednesday as it highlighted a "subdued" market.

In results for the 28 weeks to 10 October, the company said underlying pre-tax profit was up 14.1% on the same period a year earlier to £54.5m, underpinned by strong growth in its Vet Group, with Retail impacted by slower sales growth.

Total group revenue rose 1.9% to £789.1m, with group like-for-like revenue up1.6%.

Revenue from Vet Group grew 18.6%, with LFL growth of 18.2%, and with practices delivering double-digit revenue growth. Pets said this was supported by growth in subscriptions, visits and average transaction values.

Online marketplace operator Auction Technology Group posted strong full-year numbers on Wednesday, leading it to provide some solid guidance.

Auction Technology said operating profits increased by 17% to $32.4m in the year ended 30 September, driven by a 5% uptick in revenue to $174.2m, with a notably strong 12% increase in its arts and antiques unit.

Adjusted free-cash flow grew to $65.8m from $61.1m, while net debt dropped to $114.7m from $141.2m at the same time a year earlier.

Looking forward, the FTSE 250-listed group expects FY25 revenues to grow 4-6% and stated that EBITDA margins were forecast to remain steady at 45-46%.

Pennon Group reported a statutory loss before tax of £38.8m for the first half on Wednesday, swinging from a profit of £3.2m year-on-year, as restructuring costs and investments weighed on the bottom line despite a 17.5% increase in underlying revenue to £527.2m.

Market Movers

FTSE 250 - Risers

Auction Technology Group (ATG) 500.00p 13.96%
Pennon Group (PNN) 604.00p 4.05%
IP Group (IPO) 44.55p 3.12%
Crest Nicholson Holdings (CRST) 160.80p 2.94%
Keller Group (KLR) 1,504.00p 2.88%
Fidelity China Special Situations (FCSS) 210.00p 2.69%
W.A.G Payment Solutions (WPS) 81.00p 2.53%
BH Macro Ltd. GBP Shares (BHMG) 404.50p 2.15%
Hochschild Mining (HOC) 218.50p 2.10%
Indivior (INDV) 868.00p 2.00%

FTSE 250 - Fallers

Pets at Home Group (PETS) 234.20p -15.23%
Johnson Matthey (JMAT) 1,363.00p -8.98%
Wood Group (John) (WG.) 53.15p -4.90%
Aston Martin Lagonda Global Holdings (AML) 103.10p -4.63%
Kainos Group (KNOS) 781.00p -4.41%
Victrex plc (VCT) 860.00p -2.82%
Burberry Group (BRBY) 900.20p -2.74%
Telecom Plus (TEP) 1,758.00p -2.33%
Allianz Technology Trust (ATT) 398.00p -1.98%
Currys (CURY) 77.70p -1.89%