FTSE 250 movers: Softcat, Indivior and Bloomsbury Publishing surge after results
Softcat, Indivior and Bloomsbury Publishing were all putting in impressive gains on Thursday afternoon following well-received results, while Abrdn, Inchcape and Travis Perkins disappointed investors with updates on trading.
IT infrastructure services provider Softcat was up 11%% after its annual report, as the company revealed a special dividend payment following strong cash generation in the year to 31 July. The company is to pay out 20.9p per share by way of a special dividend, two thirds higher than last year, alongside a 6.5% increase in the final dividend to 18.1p. The news came as operating profits improved 9.3% to £154.1m, beating company-compiled consensus forecasts of £152.2m.
Indivior jumped 9% as the UK-listed pharma firm reassured investors by holding on to its full-year forecasts following a recent profit warning. The company also posted a quarterly operating profit of $4m, swinging from a $183m loss in the third quarter of 2023.
Bloomsbury Publishing surged 8% as it upgraded its full-year expectations following record first-half profit and revenue. In results for the six months to the end of August, the Harry Potter publisher said pre-tax profit rose 58% to £22.1m, while revenue was 32% higher at £179.8m.
Also higher was Burberry after French fashion and accessories giant Hermès impressed the market with 11% third-quarter sales growth as it shrugged off the wider luxury-market slowdown. The company posted double-digit growth in every region except Asia-Pacific when excluding Japan.
Heading the other way was asset manager Abrdn, falling 9% after saying that it continued to experience outflows in its investments and adviser divisions in the third quarter, despite efforts to address the challenges. Outflows were concentrated in equities, particularly in Asia and emerging markets, reflecting broader sectoral trends.
Automotive distributor Inchcape dropped 6% as warned that its results would be impacted by translational foreign exchange headwinds during the second half, including the devaluation of the Ethiopian Birr.
Travis Perkins fell over 4% after revising its operating profit guidance, as it reported a 5.7% decline in third-quarter group revenue thanks to weakness in its merchanting segment.
FTSE 250 - Risers
Softcat (SCT) 1,698.00p 10.84%
Indivior (INDV) 711.00p 8.80%
Bloomsbury Publishing (BMY) 738.00p 8.21%
Burberry Group (BRBY) 742.40p 4.27%
Bytes Technology Group (BYIT) 500.00p 4.17%
Wizz Air Holdings (WIZZ) 1,350.00p 3.85%
Chrysalis Investments Limited NPV (CHRY) 90.60p 3.42%
Kainos Group (KNOS) 823.00p 3.39%
Aston Martin Lagonda Global Holdings (AML) 110.50p 2.98%
Trustpilot Group (TRST) 244.00p 2.95%
FTSE 250 - Fallers
Abrdn (ABDN) 149.20p -9.00%
Inchcape (INCH) 713.50p -6.43%
Travis Perkins (TPK) 881.00p -4.45%
Kier Group (KIE) 144.80p -3.08%
Pennon Group (PNN) 578.00p -2.53%
Foresight Solar Fund Limited (FSFL) 86.80p -2.47%
PRS Reit (The) (PRSR) 105.20p -2.41%
Morgan Sindall Group (MGNS) 3,865.00p -2.28%
SThree (STEM) 361.00p -2.04%
RHI Magnesita N.V. (DI) (RHIM) 3,160.00p -2.02%