FTSE 250 movers: ME Group slides; Chemring missile deal pleases

FTSE 250 (MCX) 20,454.00 -0.49%

ME Group International fell sharply despite reporting a positive first-half trading performance, with a 4.6% increase in group revenue and a 10.3% rise in profit before tax compared to the same time last year, driven by growth in its photobooth and laundry operations.

Its Photo.ME photobooth operation saw a revenue increase of 2.3%, or 7.4% excluding foreign exchange, fuelled by global demand for official photo IDs.

Chemring said it had signed a 15-year deal partnering deal with US defence firm Northrop Grumman for the supply of HMX energetic material used in its missile programmes along with an order for the product worth $83m as demand for military weapons increased globally.

The deal, made through the company's Norwegian subsidiary Chemring Nobel, "supports Northrop Grumman's efforts to expand its munitions manufacturing production in response to growing customer demand", Chemring said on Monday.

Deliveries under the order will start in the 2026 financial year and be made over the following three years, with all work being carried out at Chemring Nobel's facility at Sӕtre, Norway.

FTSE 250 - Risers

Just Group (JUST) 104.20p 3.17%
Harbour Energy (HBR) 311.90p 2.84%
Diversified Energy Company (DEC) 1,128.00p 2.17%
Great Portland Estates (GPE) 346.00p 1.91%
SSP Group (SSPG) 161.70p 1.83%
Ascential (ASCL) 338.50p 1.65%
Hargreaves Lansdown (HL.) 1,075.50p 1.61%
C&C Group (CDI) (CCR) 158.80p 1.53%
Paragon Banking Group (PAG) 756.50p 1.20%
Derwent London (DLN) 2,320.00p 1.13%