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FTSE 250 movers: Strong trading leads Supergroup to top of the pack

Wed, 16th Dec 2015 15:28

(ShareCast News) - The FTSE 250 was on track to finish the day in the green on Wednesday, up 78.47 points (0.46%) to 17,078.03 by mid-afternoon.Supergroup led the risers after it released its half year report, showing strong trading leading to positive sales growth. The owner of popular faux-Japanese fashion brand Superdry saw revenue rise 22.3% to £254.7m in the 26 weeks to October 24. Underlying profit before tax was up a sizeable 54.4% to £19.3m. Excluding North America, it increased 73.6%. Basic earnings per share were up to 20p, from 11.9p, on an underlying basis. Its reported basic earnings per share were just 10.2p, however, down from 17.2p last year. In the report, SuperGroup said this reflected the period-on-period remeasurement of financial derivatives, as well as "exceptional items" related to the North America licence buy-out.Bwin.party was also up on the back of Citi upgrading the stock from 'sell' to 'buy'. It follows GVC Holdings' takeover of bwin.party digital entertainment being approved by the companies' shareholders on Tuesday. Bwin.party said 99.99 per cent of shareholders voted in favour of the deal, while 99.91 of GVC's did the same. Both firms said the deal is expected to become effective on February 1st 2016, with admission of GVC's shares to the Official List of the London Stock Exchange.N Brown Group was the biggest faller of the day down nearly 7%. N+1 Singer trimmed its sales forcasts for the full year after an unseasonally warm start to the Autumn/Winter trading period. As a result, it reduced its full year above consensus profit before tax forecast by 3.4% and outer years by 2%. "We still believe that the ongoing channel shift to online is favouring N Brown (and others like boohoo) and that N Brown has traded well on receivables growth and margins," the report said. It comes after women's value retailer Bonmarche warned over its full year profits due to challenging conditions in December that haven't normalised. That also forced department store Debenhams to take a hit and featuring in the top 10 fallers.FTSE 250 - RisersSupergroup (SGP) 1,639.00p 8.11%Drax Group (DRX) 225.10p 6.78%Acacia Mining (ACA) 168.10p 6.46%Bwin.party Digital Entertainment (BPTY) 123.60p 5.91%Petra Diamonds Ltd.(DI) (PDL) 71.50p 5.15%AA (AA.) 300.20p 5.11%Bodycote (BOY) 551.00p 4.95%Aldermore Group (ALD) 214.90p 4.57%Shawbrook Group (SHAW) 344.30p 4.33%Carillion (CLLN) 310.70p 4.12%FTSE 250 - FallersBrown (N.) Group (BWNG) 299.40p -6.76%Nostrum Oil & Gas (NOG) 359.20p -4.97%Tullett Prebon (TLPR) 341.60p -4.53%Dignity (DTY) 2,361.00p -3.48%Indivior (INDV) 184.90p -3.19%Debenhams (DEB) 73.55p -3.16%Kaz Minerals (KAZ) 90.00p -2.96%Vedanta Resources (VED) 281.10p -2.56%Home Retail Group (HOME) 94.65p -2.07%DCC (DCC) 5,545.00p -1.86%
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2 Sep 2015 07:15

LONDON BRIEFING: Ashtead And Hikma Lead Positive Early Market

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2 Sep 2015 05:37

PRESS: GVC Would Consider Going Hostile On Bwin.Party Bid - The Times

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2 Sep 2015 04:02

GVC says could go hostile if Bwin accepts 888's offer - Times

Sept 2 (Reuters) - Online gambling company GVC Holdings Plc said it could go hostile in the 1-billion-pound ($1.5 billion) battle for Bwin.party Digital Entertainment if Bwin's board recommends a lower offer from 888 Holdings Plc , the Times newspaper reported. GVC's board is "not prepared

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2 Sep 2015 02:08

MEDIA-GVC threatens to go hostile if Bwin takes lower bid from rival-The Times

-- Source link: (http://thetim.es/1hSLo2W) -- Note: Reuters has not verified this story and does not vouch for its accuracy

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1 Sep 2015 10:13

UPDATE 2-Online betting firm 888 forced to improve bid for Bwin

* Bwin confirms received a revised proposal from 888 * Says evaluating Bwin and GVC proposals * GVC confirms making a formal offer to Bwin (Adds analyst comments; background; share movement) By Aastha Agnihotri and Neil Maidment Sept 1 (Reuters) - Online gambling firm 88

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1 Sep 2015 10:04

TOP NEWS SUMMARY: UK Manufacturing Slows But Mortgage Approvals Rise

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1 Sep 2015 07:48

Bwin receives revised offer from 888 as bidding contest heats up

(ShareCast News) - Bwin.Party Digital Entertainment has received a revised proposal from 888 Holdings, which it is evaluating along with the offer received from GVC Holdings and said it intends to consult with its shareholders in the coming days before making a decision. "The board's unanimous recom

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1 Sep 2015 07:16

LONDON BRIEFING: Inmarsat Shares Orbit Above Earth-Bound Early Market

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1 Sep 2015 07:01

UPDATE 1-UK's Bwin receives revised proposal from 888

(Adds details, GVC spokesperson comments) Sept 1 (Reuters) - Online gambling firm 888 Holdings Plc stepped up the battle for Bwin.party Digital Entertainment Plc on Tuesday, submitting a revised takeover proposal as it looks to see off rival interest from GVC Holdings Plc. Bwin, up f

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1 Sep 2015 06:36

LONDON MARKET PRE-OPEN: Futures Call For Weak Start To September

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1 Sep 2015 06:24

UK's Bwin receives revised offer from 888

Sept 1 (Reuters) - Online gambling firm Bwin.party Digital Entertainment Plc said it had received a revised offer from 888 Holdings Plc and was evaluating it together with the proposal received from GVC Holdings Plc. Bwin had earlier accepted 888 Holdings's 900 million-pound offer, saying G

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1 Sep 2015 06:20

Bwin.Party Says 888 Holdings Makes Revised Takeover Offer

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30 Aug 2015 16:47

Battle for Bwin.Party heats up ahead of this week's decision

(ShareCast News) - Bwin.Party will this week make its decision about which of its two suitors, 888 and GVC Holdings, it will select. With 888 looking like it held the lead, the situation was reportedly suddenly turned on its head on Friday with a new offer from GVC, which valued the company at £1bn.

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28 Aug 2015 11:00

GVC Holdings interim profit slips on Bwin-related costs

(ShareCast News) - Online gambling operator GVC Holdings posted a small drop in interim pre-tax profit as the company said it was hit by costs related to its pursuit of Bwin.Party Digital Entertainment. For the six months ended 30 June, pre-tax profit came in at €17.07m versus €18.02m in the first h

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28 Aug 2015 10:10

TOP NEWS SUMMARY: UK Economic Growth Confirmed At 2.6% In 2nd Quarter

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