FTSE 250 movers: WAG surges; Ithaca slides after going ex-div

FTSE 250 (MCX) 20,824.56 0.08%

WAG Payment Solutions insisted trading remained on track on Thursday, despite a sharp fall in half-year profits.

The freight services fintech, which trades as Eurowag, reported an 18% increase in total net revenue in the six months to 30 June, to €141m. Adjusted earnings before interest, tax, depreciation and amortisation also jumped 18%, to €59.4m.

However, pre-tax profits fell 51% to €4.2m from €8.5m a year previously.

Upper Crust and Ritazza owner SSP was hit by a downgrade to ‘equalweight’ at Morgan Stanley.

Ithaca Energy slumped after trading without entitlement to the dividend.

Fresh prepared food provider Bakkavor Group announced a strong set of first-half results on Thursday, highlighting revenue growth, improved margins, and debt reduction.

The FTSE 250 company reported a 2.8% increase in revenue to £1.12bn, with like-for-like revenue up 3.8%, driven primarily by its UK operations.

Adjusted operating profit rose 26.7% to £55m, resulting in a 4.9% profit margin.

Genus reported strategic progress amid challenging market conditions, particularly in China, in its preliminary full-year results on Thursday, although it warned of potential currency headwinds going forward.

The FTSE 250 animal genetics company reported a mixed financial performance, with structural changes contributing to stronger results in the second half of the year ended 30 June.

In the latter half of the year, Genus recorded an adjusted operating profit, including joint ventures, of £40m - a 15% year-on-year increase in constant currency.

Market Movers

FTSE 250 - Risers

Pennon Group (PNN) 638.50p 5.98%
W.A.G Payment Solutions (WPS) 77.20p 5.75%
Aston Martin Lagonda Global Holdings (AML) 157.80p 4.30%
Bakkavor Group (BAKK) 160.50p 4.22%
Ashmore Group (ASHM) 180.00p 4.11%
Indivior (INDV) 939.50p 3.47%
Workspace Group (WKP) 643.00p 3.04%
Ocado Group (OCDO) 360.90p 2.97%
International Public Partnerships Ltd. (INPP) 131.00p 2.66%
Great Portland Estates (GPE) 350.00p 2.64%