FTSE 250 movers: Essentra enfeebled; Invidior invigorated

Shares in Essentra plunged almost 20% on Friday as the company reported a 6% fall in interim pre-tax profits

The industrials manufacturer made a pre-tax profit of £42.6m, down from £45.1m last year on lower revenues of £545.2m from £550.4m. It added that it was working with chief executive on a successor to his post.

Laird shares fell after it posted its half-year results for the six months to 30 June, with a 15.2% increase in revenue to £352.5m as a result of growth in majority of the business and acquisitions.

The FTSE 250 firm saw organic constant currency revenue decrease 3.6% mainly due to strong H1 2015 comparative in Performance Materials.

Acacia shares were down after a downgrade to 'sell' from broker Canaccord Genuity.

"With a share price of almost 600p, and an upwardly revised target price of only 505p, and with little prospect of a near-term sale of Barrick's 63.9% stake in our view, we downgrade our recommendation from 'hold' to 'sell'. We like what the company has achieved so far this year, but believe that it is more than in the share price already," Cannacord said in a note.

Among the risers, Invidior led the way after the specialty pharmaceuticals firm lifted its full-year guidance as it reported a rise in first-half net sales.

For the half to 30 June, net revenue rose to $531m from $517m in the same period a year ago. However, operating profit declined to $198m from $230m as the group invested in research and development and incurred selling, general and administrative expenses.

Shares in UBM gained as the company reiterated its trading outlook for the full year on Friday as it posted a rise in first-half pre-tax profit and said it stands to benefit from the stronger dollar.

For the six months ended 30 June, pre-tax profit rose to £51.8m from £35.1m in the first half of last year as revenue increased to £380m from £351.8m.

Market Movers

FTSE 250 (MCX) 17,198.76 -0.31%

FTSE 250 - Risers

Indivior (INDV) 299.40p 9.87%
Kaz Minerals (KAZ) 157.30p 6.21%
Restaurant Group (RTN) 350.60p 4.63%
UBM (UBM) 660.50p 4.59%
International Personal Finance (IPF) 264.60p 4.30%
Domino's Pizza Group (DOM) 400.00p 3.65%
Henderson Group (HGG) 230.50p 3.41%
Wizz Air Holdings (WIZZ) 1,539.00p 3.15%
CYBG (CYBG) 261.10p 3.04%
Sports Direct International (SPD) 288.60p 2.67%

FTSE 250 - Fallers

Essentra (ESNT) 507.50p -18.99%
Laird (LRD) 290.00p -12.65%
Acacia Mining (ACA) 544.00p -7.40%
Berendsen (BRSN) 1,260.00p -5.76%
Countrywide (CWD) 249.70p -5.13%
IP Group (IPO) 153.30p -3.77%
CLS Holdings (CLI) 1,349.00p -3.64%
Hochschild Mining (HOC) 264.20p -3.22%
Pendragon (PDG) 31.38p -3.09%
Amec Foster Wheeler (AMFW) 439.20p -2.57%