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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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7 Aug 2015 13:41

UPDATE 2-All in: GVC again raises offer to pry Bwin from 888

* GVC raises offer to 1.03 bln pounds from 1 bln * Bwin has accepted 888 Holdings's 900 mln pounds offer * Bwin could GVC offer to coax higher 888 bid-analyst (Adds analyst comment, 888 no comment, details around synergies, updates share movement) By Esha Vaish and Aastha Agni

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7 Aug 2015 12:03

TIMELINE-Battle for Bwin: GVC, 888 wage a bidding war

Aug 7 (Reuters) - Gambling company Bwin.Party Digital Entertainment Plc, which put itself up for sale, has become the subject of a bidding war. GVC Holdings Plc, whose offer for the company was turned down in favour of a one from rival 888 Holdings Plc , has twice come back with higher offe

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7 Aug 2015 11:26

CORRECTED-UPDATE 3-Gambling firm GVC raises offer to $1.6 bln for rival Bwin.party (July 27)

(Corrects paragraph 4 of July 27 story to say that the company has cut costs, not struggled with cost savings) * GVC makes 122.5p/share offer for Bwin * Says Cerberus Capital to provide 400 mln-euro loan * Cost savings to exceed 135 mln euros per annum By Aastha Agnihotri

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7 Aug 2015 10:59

GVC makes improved proposal to Bwin

(ShareCast News) - GVC Holdings has begun talks with larger competitor Bwin.party over a new, fully-funded takeover proposal at 125.5p per share, with reports claiming its equity placing to raise cash for the deal was oversubscribed. Bwin.party quickly responded that it was "working closely" with

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7 Aug 2015 10:10

Online gambling firm GVC raises offer for Bwin to $1.6 bln

Aug 7 (Reuters) - Online gambling company GVC Holdings Plc raised its offer for rival Bwin.party Digital Entertainment Plc to 1.03 billion pounds ($1.6 billion), hoping to pry the company away from 888 Holdings Plc . GVC's offer, its third, of 125.5 pence per shares - 25 pence in cash and

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7 Aug 2015 10:07

TOP NEWS SUMMARY: UK Trade Deficit Widens; William Hill Shares Slump

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7 Aug 2015 09:44

UPDATE: GVC Makes Cash And Shares Takeover Proposal For Bwin.Party (ALLISS)

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7 Aug 2015 09:37

GVC Confirms Cash And Shares Takeover Proposal For Bwin.Party (ALLISS)

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7 Aug 2015 09:28

2nd UPDATE: William Hill Interim Profit Falls, Buys NeoGames Stake

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7 Aug 2015 08:16

UPDATE: William Hill Profit Down In Half Year, Buys Stake In NeoGames

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28 Jul 2015 12:16

Credit Suisse ups Bwin to 'neutral', sees strategic rationale to 888 deal

(ShareCast News) - Credit Suisse upgraded Bwin.party Digital Entertainment to 'neutral' from 'underperform' and raised the price target to 110p from 80p, saying it's now very likely a deal will take place with 888 Holdings. CS said 888's proposal makes strategic sense. "We believe that focus on cos

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28 Jul 2015 08:40

BROKER RATINGS SUMMARY: Panmure And Shore Capital Raise RSA Insurance

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27 Jul 2015 18:30

FTSE 250 movers: Mining and oil stocks in the red

(ShareCast News) - Lonmin led the miners lower on the FTSE 250 after a downgrade from HSBC hurt the platinum producer's shares. HSBC downgraded the stock to 'hold' from 'buy' and slashed its price target to 82p from 222p. The bank said medium-term earnings and EBITDA estimates are substantially lowe

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27 Jul 2015 11:15

LONDON MARKET MIDDAY: China Stock Market Reversal Weighs On US Futures

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27 Jul 2015 10:13

TOP NEWS SUMMARY: Rollercoaster Crash To Wreck Merlin's 2015 Results

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