FTSE 250 movers: Just Retirement higher on "resilient profits"
Pension provider Just Retirement surged after saying it delivered “resilient profits” despite changes made to the annuity market in the government Budget last year. Annuity sales were down just 4% on the pre-Budget comparison period, it said.
Chemicals
7,026.07
16:44 09/01/25
Drax Group
629.00p
17:15 09/01/25
Electricity
9,737.48
16:44 09/01/25
FTSE 250
20,005.14
16:50 09/01/25
FTSE 350
4,563.23
16:44 09/01/25
FTSE All-Share
4,517.93
17:05 09/01/25
Genus
1,484.00p
16:40 09/01/25
Health Care Equipment & Services
10,882.20
16:44 09/01/25
Household Goods & Home Construction
10,052.41
16:44 09/01/25
Just Group
145.80p
16:40 09/01/25
Life Insurance
5,412.60
16:44 09/01/25
NMC Health
938.40p
16:44 27/04/20
Pharmaceuticals & Biotechnology
20,778.26
16:44 09/01/25
Victrex plc
1,034.00p
16:35 09/01/25
Vistry Group
527.50p
16:36 09/01/25
Drax were trading higher after the power station revealed Pre-tax profit for 2014 was £165.9m, up from £31.8m in 2013. Chief executive Dorothy Thompson said: “I am pleased that the key activities within our direct control have gone very well indeed. We will deliver our biomass transformation plans, converting three units to sustainable biomass, on time and on budget.”
Harold Hutchinson, analyst at Investec, said: “We remain positive[… ] that the overall biomass conversion plan at Drax is integral to the UK’s decarbonisation plans. Indeed, on affordability criteria, we believe the case is strengthening.”
Animal genetics group Genus was rising, as it revealed it was on track to beat its expectations for 2015 on the back of a strong first half performance. In the six months to 2014, the group reported a pre-tax profit of £28.6m, up from £22m in the previous year, while revenue rose 9% to £198.5m.
“A strong first half performance helped by early acquisition synergy realisation will lead to near term upside momentum to forecasts,” analysts at Numis said in a note on Tuesday.
NMC Health was boosted after making a deal to purchase an 86.4% stake in the Spanish fertility clinic Clinica Eugin for €143m. The United Arab Emirates-based company also reported a pre-tax profit worth $77.5m in 2014, an increase from $69.1m the previous year. Meanwhile, revenue rose from $550.9m to $643.9m.
Chief executive officer Bavaguthu Raghuram Shetty said: “This transaction offers NMC the opportunity to become the leading integrated women's health provider from fertility through obstetrics and paediatrics in the UAE, and also establishes a foothold for the company in the growing medical tourism market.”
Meanwhile, Victrex was in the red as competitor Solvay stepped up expansion, announcing a new polymer plant in the US.
Bovis Homes was also trading lower after analysts at Citigroup downgraded their rating on the stock to “neutral” in a research report issued to clients and investors.