FTSE 250 movers: Essentra under the cosh; RPC/BPI deal appeals

A profit's warning at Essentra saw the shares plummet 29% in midday trade on the FTSE 250.

The specialist plastic, fibre and foam maker cited a tough market in filter products and short-term operational problems in the US and UK from its healthcare and personal packaging unit.

The company said adjusted operating profit was now expected to be in the range of £155 - £165m against £171.5m in 2015, with second half profit stronger than H1 2016 and “directionally consistent” with the second half of 2015.

Full year revenue is anticipated to be broadly unchanged against 2015's £1.1bn, Essentra added.

RPC Group shares rose after agreeing a £261m deal to buy British Polythene Industries.

It added that it was launching a £90m share placing to part fund the acquisition. RPC will pay BPI shareholders 470p a share in cash and 0.60141 of new RPC shares.

Online car sales firm Autotrader was in favour after it motored to a £155m pre-tax profit in its first full year as a listed company, up from £10.9m last year.

Revenues rose 10% to £281.6m, while operating profits grew 27% to £169.6 million. Basic earnings per share from continuing operations of were up to 12.67p from 0.85p.

Market Movers

FTSE 250 (MCX) 17,069.08 -0.63%

FTSE 250 - Risers

RPC Group (RPC) 840.50p 3.07%
Indivior (INDV) 216.30p 3.00%
Spire Healthcare Group (SPI) 357.60p 2.76%
Aveva Group (AVV) 1,735.00p 2.54%
Kaz Minerals (KAZ) 158.80p 2.45%
DFS Furniture (DFS) 300.00p 2.35%
Auto Trader Group (AUTO) 410.00p 1.86%
Entertainment One Limited (ETO) 181.30p 1.85%
Galliford Try (GFRD) 1,296.00p 1.17%
Pendragon (PDG) 39.07p 1.17%

FTSE 250 - Fallers

Essentra (ESNT) 588.50p -29.10%
Allied Minds (ALM) 315.00p -5.86%
esure Group (ESUR) 272.30p -5.29%
Petrofac Ltd. (PFC) 745.50p -4.79%
B&M European Value Retail S.A. (DI) (BME) 283.10p -4.00%
Softcat (SCT) 362.40p -3.39%
Amec Foster Wheeler (AMFW) 446.60p -3.31%
AO World (AO.) 153.60p -2.78%
Aberdeen Asset Management (ADN) 276.20p -2.61%
Zoopla Property Group (WI) (ZPLA) 313.80p -2.46%