FTSE 250 movers: Domino's enjoys slice of fortune, Games Workshop bashed

London's mid cap index was roughly unchanged at 19,019.35 late on Thursday, as Domino's Pizza leaped and Mediclinic slumped.

Takeaway chain franchise operator Domino’s Pizza served up 5.9% growth in group sales for the 13 weeks ended 30 September to £303.3m, said it expected to hit the mid-point of full-year analyst forecasts for profit before tax and announced a new £25m share buy-back.

Even so, Liberum rated the company as 'sell' and cut its price target for Domino's shares to 250p. "There remains no comment on next year's opening target which we feel could see further declines. Franchisee support could and probably should rise over the next year as the system profits need rebalancing in order to return Domino’s to the clear sustainable growth model it should be," analysts said.

Coach travel outfit National Express pushed higher after saying it had a good summer, with its UK coach business in particular delivering "outstanding" organic growth as group revenue was up 9.5% in reported terms, with normalised PBT up 18.3%.

"While significant uncertainties remain, such as the achievable medium-term contract price adjustments and labour inflation in North America, or the concession renewals process in Spain, the company is making excellent progress in growing the group profitably," said broker Canaccord.

Go-Ahead racked up gains after winning its first rail contract in Norway on Wednesday, as it was awarded the Oslo South package by Norwegian authorities and the Norwegian Railway Directorate. The eight-year contract, which includes an optional two-year extension and begins in December, comprises 5.5 million train kilometres and contributes annualised revenue of £70m to the £250m already secured.

Mediclinic extended its fall since Wednesday's results to 25% after the shares were downgraded to ‘underperform’ by Bank of America Merrill Lynch and to ‘equalweight’ at Barclays.

Barclays said it was “disappointed” by the company's Wednesday update, in which the hospital operator had warned that full-year profit margins would miss expectations because of weak growth in Switzerland, one of its core markets, leading the bank's analysts to state that they were "less confident" in the company's recovery story.

Tabletop gaming retailer Games Workshop slumped as it gave a cryptic update, warning of "some uncertainties" ahead but commented that sales were ahead and profits at a similar level to the prior year.

“Shareholders can easily get carried away with stocks that are going through a purple patch with sales growth and Games Workshop certainly is among this pack. Sadly the retailer’s latest trading update is a reminder that no company is invincible," said Russ Mould at AJ Bell.

Some investors in casino and bingo hall operator Rank Group cashed in their chips after the group showed its hand, with like-for-like revenue down 4.9% for the 16 weeks to 14 October.

Shopping centre operator and owner Intu Properties was a touch weaker after an update on leasing said that Mazda, Shortlist Media, Monki, Oliver Bonas and Typo were among the latest brands to sign new leases.

Independent retail analyst Nick Bubb said this bunch "do not exactly sound like 'A-list' retail celebs and though Intu also trumpet the “highly successful” opening of Debenhams at the new intu Watford extension there is no mention of any other retailers yet opening in the extension".

Market Movers

FTSE 250 (MCX) 19,019.35 0.03%

FTSE 250 - Risers

Domino's Pizza Group (DOM) 283.40p 8.71%
National Express Group (NEX) 418.60p 5.65%
Euromoney Institutional Investor (ERM) 1,348.00p 4.66%
Energean Oil & Gas (ENOG) 610.00p 4.63%
Go-Ahead Group (GOG) 1,683.00p 4.02%
Fisher (James) & Sons (FSJ) 1,760.00p 3.77%
Indivior (INDV) 199.10p 3.51%
Drax Group (DRX) 417.60p 3.47%
On The Beach Group (OTB) 441.00p 3.40%
TalkTalk Telecom Group (TALK) 124.80p 3.31%

FTSE 250 - Fallers

Mediclinic International (MDC) 359.40p -8.78%
Games Workshop Group (GAW) 3,160.00p -5.11%
Bank of Georgia Group (BGEO) 1,620.80p -4.78%
Wizz Air Holdings (WIZZ) 2,488.00p -4.71%
Rank Group (RNK) 156.40p -4.17%
Spire Healthcare Group (SPI) 114.30p -3.54%
Intu Properties (INTU) 178.55p -3.49%
Centamin (DI) (CEY) 102.10p -3.41%
Capita (CPI) 127.28p -3.39%
Ferrexpo (FXPO) 217.00p -3.13%