FTSE 250 movers: Auction Technology continues rally

FTSE 250 (MCX) 19,149.66 -0.12%

Shares in Auction Technology Group continued to rally after the art and antique online marketplace operator said it expected annual results to be in line with expectations after an 11% increase in revenue for the first three months of the year.

The company on Tuesday said total came in at $43.9m, driven by the continued strong growth in value-added services offsetting the wider market dynamics in gross merchandise value that continued from the end of the 2023 financial year into 2024.

ATG still expects full-year organic revenue growth of 5 - 8% and adjusted core earnings margins to be maintained.

Watches of Switzerland was also in the black ahead of a trading update this week. Shares in the firm tanked two weeks ago after the luxury timepiece seller slashed its annual revenue guidance on the back of slumping demand for its luxury products and forecast of volatile trading conditions for the rest of the fiscal year.

Full-year 2024 revenue was now expected to be between £1.53bn - £1.55bn, compared with an earlier forecast of £1.65bn - £1.70bn, the company said. Shares plunged by a third at the time.

“Despite a positive start to the early part of the third quarter, WOSG then experienced a volatile trading performance in the run-up to and beyond Christmas, as the challenging macro-economic conditions impacted consumer spending in the luxury retail sector,” the company said on January 18.

Howden Joinery and PZ Cussons were at the top of the losers board.

Market Movers

FTSE 250 - Risers

Helios Towers (HTWS) 77.90p 5.70%
Auction Technology Group (ATG) 547.00p 4.99%
Watches of Switzerland Group (WOSG) 375.60p 4.45%
Pets at Home Group (PETS) 277.20p 2.90%
Wizz Air Holdings (WIZZ) 2,248.00p 2.74%
Polar Capital Technology Trust (PCT) 2,800.00p 2.38%
Babcock International Group (BAB) 460.00p 2.22%
Trustpilot Group (TRST) 180.20p 2.21%
Foresight Group Holdings Limited NPV (FSG) 446.00p 2.06%
Bakkavor Group (BAKK) 96.00p 1.69%