FTSE 250 movers: Wizz Air flies higher on results; Petrofac gushes lower again
London's FTSE 250 was up 0.1% to 19,959.57 in afternoon trade.
Central and Eastern European-focused low-cost airline Wizz Air reported record profit for the year to the end of March despite "challenging" conditions including low fares and increasing fuel prices. Full-year profit rose 28% to €246m on revenue of €1.57bn, up 10% from the year before, as passenger numbers jumped 19% to 23.8m.
Shares in asset manager Intermediate Capital surged after it reported a jump in full-year profit and assets under management. In the year to the end of March, pre-tax profit rose to £252.4m from £158.8m in 2016, with adjusted group pre-tax profit coming in at £237.5m from £175.6m. Total assets under management increased 10% to €23.8bn, with €4bn of new money raised.
Qinetiq rose as it said full-year pre-tax profit increased to £123.3m from £106.1m on revenue of £783.1m, up from £755.7m in 2016, with total orders of £1.7bn compared to £659.8m.
GVC Holdings advanced as it reported daily net gaming revenues rose 13% in the first quarter and that positive momentum has continued into the second, while Halfords gained ground despite reporting a drop in full-year profit, as it lifted its dividend and said cash generation remained strong.
On the downside, Petrofac shares plunged after the company suspended chief operating officer Marwan Chedid as it is being investigated by the Serious Fraud Office over bribery and money laundering allegations.
Acacia Mining was in the red again as RBC Capital Markets downgraded its stance on the stock, while OneSavings Bank slumped after private investment firm JC Flowers & Co sold 25m shares in the bank, equivalent to a 10% stake, for approximately £110m.
Amec Foster Wheeler and Wood Group fell for the second day running after revealing on Wednesday connections to the Unaoil bribery scandal, which could put a spanner in the works of their deal.
Tate & Lyle dropped despite reporting an 85% jump in full-year pre-tax profit, underpinned by a weaker pound and a solid performance from both divisions.
Capita slipped as it went ex-dividend.
Risers
Wizz Air Holdings (WIZZ) 2,182.00p 12.13%
Intermediate Capital Group (ICP) 891.00p 10.41%
Evraz (EVR) 199.60p 3.26%
Grainger (GRI) 269.40p 3.02%
Paysafe Group (PAYS) 495.90p 2.99%
Just Group (JUST) 136.90p 2.93%
QinetiQ Group (QQ.) 317.60p 2.85%
GVC Holdings (GVC) 786.50p 2.81%
Pennon Group (PNN) 945.00p 2.77%
Halfords Group (HFD) 368.00p 2.56%
Fallers
Petrofac Ltd. (PFC) 430.10p -30.07%
Acacia Mining (ACA) 271.30p -11.05%
OneSavings Bank (OSB) 429.40p -8.15%
Amec Foster Wheeler (AMFW) 500.00p -6.37%
Capita (CPI) 549.00p -4.94%
Tullow Oil (TLW) 203.90p -4.27%
Wood Group (John) (WG.) 715.00p -4.22%
Tate & Lyle (TATE) 764.00p -3.29%
Polypipe Group (PLP) 423.80p -2.91%
Softcat (SCT) 408.40p -2.53%