FTSE 250 movers: Rotork reverse; BBA takes off
Engineer Rotork led the FTSE 250 fallers as it posted a drop in first-half profit on Tuesday as revenue declined amid weaker oil prices.
In the six months to the end of June, pre-tax profit fell 31.9% to £38.3m on revenue of £263.9m, down 2.7% from the year before.
Challenging conditions in the soft drinks market took some of the fizz out of AG Barr, with first-half revenues down on the previous year and management only expecting to hit full year profit forecasts if the market improves and 'robust' second half plans come to fruition.
In a trading update for the six months to 30 July, the Irn Bru maker said revenue in the period would fall 2.9% on a like-for-like basis to roughly £125m.
The market downturn in oilfield drilling and the impact of the dollar on chromium sales outside of North America hit first half profits at specialty chemicals firm Elementis which fell in line with expectations to $44.7m from $65.3m.
Sales fell to $334m from $360.4m. The dividend is unchanged at 2.7p a share.
Aviation services company BBA Aviation took off after reporting interim underlying operating profit up 56% to $149.6m.
The FTSE 250 firm said the acquisition of Landmark Aviation was delivering as anticipated, with the integration proceeding well and “synergy delivery” ahead of plan.
Market Movers
FTSE 250 (MCX) 17,128.02 -0.07%
FTSE 250 - Risers
BBA Aviation (BBA) 251.20p 6.89%
IP Group (IPO) 157.30p 4.87%
esure Group (ESUR) 271.80p 3.39%
Spire Healthcare Group (SPI) 331.70p 3.17%
Beazley (BEZ) 399.30p 2.81%
Clarkson (CKN) 1,884.00p 2.50%
Crest Nicholson Holdings (CRST) 416.20p 2.19%
Moneysupermarket.com Group (MONY) 303.20p 2.09%
NCC Group (NCC) 329.60p 2.04%
Sophos Group (SOPH) 233.00p 1.88%
FTSE 250 - Fallers
Rotork (ROR) 197.00p -7.77%
Ascential (ASCL) 250.90p -5.46%
Keller Group (KLR) 869.00p -4.51%
International Personal Finance (IPF) 251.20p -4.01%
Barr (A.G.) (BAG) 515.50p -3.82%
Shawbrook Group (SHAW) 178.70p -3.41%
Rank Group (RNK) 222.50p -3.26%
Elementis (ELM) 213.10p -2.92%
Grafton Group Units (GFTU) 537.00p -2.89%
Amec Foster Wheeler (AMFW) 424.70p -2.81%