FTSE 250 movers: IWG extends gains, TP ICAP impresses
International Workplace Group
166.00p
12:25 05/11/24
Workspace provider IWG was extending gains made on Tuesday after it reported a strong performance across key financial metrics in its first-half results. The company posted a record group revenue total of £1.68bn, up 14% in constant currency year-on-year.
Bellway
2,802.00p
12:24 05/11/24
CLS Holdings
92.90p
11:14 05/11/24
Financial Services
16,796.06
12:24 05/11/24
FTSE 250
20,442.94
12:25 05/11/24
FTSE 350
4,510.75
12:25 05/11/24
FTSE All-Share
4,468.02
12:25 05/11/24
Hill and Smith
2,065.00p
12:19 05/11/24
Household Goods & Home Construction
12,677.76
12:19 05/11/24
Industrial Engineering
11,499.42
12:19 05/11/24
Real Estate Investment & Services
2,359.88
11:59 05/11/24
TP Icap Group
236.00p
12:24 05/11/24
TP ICAP impressed after beating expectations with its half-year report. The liquidity and data specialist reported an underlying operating profit of £163m, compared with consensus estimates of £158m.
Hill and Smith, the infrastructure and transport group, also surpassed analysts’ estimates with its interim results, and said it was likely to beat expectations for the full year after a record six months. The company reported a 9% increase in revenue and a 20% jump in operating profit on an organic constant currency basis.
Office space firm CLS Holdings disappointed after swinging to a big loss in the first half due to a decline in property valuations. The company cited challenging market conditions as it reported a pre-tax loss of £106.4m for the six months ended 30 June, compared to a profit of £21.3m the year before.
UK housebuilder Bellway was also trading lower as it delivered a pessimistic outlook on near-term trading, blaming current “challenging” market conditions on the recent surge in mortgage rates and the end of the Help-to-Buy scheme. The company also announced it was cutting jobs “across the group” following a review.