Last checked at LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Tuesday.
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FTSE 100 - WINNERS
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Babcock International Group, up 3.7%. The engineering support services company said its pretax profit and revenue both improved in the first half thanks to a robust performance in its marine and technology division. Babcock said pretax profit for the half to the end of September was GBP146.3 million, up from GBP137.0 million a year earlier. Revenue for the period rose to GBP2.35 billion from GBP2.10 billion. The group will pay an interim dividend of 6.05 pence per share, up from 5.50p a year earlier.
Intertek, up 2.6%. The testing, inspection and certification services company said it remains on track to meet its expectations for the full year, despite revenue growth slowing in the second half so far. Intertek said revenue for the ten months to the end of October rose to GBP1.78 billion, up 2.8% year-on-year, though revenue for the four months to the end of October was up only 1.7% on a reported basis. On an organic basis at constant currency, however, Intertek's revenue growth for the first ten months was only 1.2%, but rose 1.8% in the four months to the end of October, indicating improved underlying trading.
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FTSE 100 - LOSERS
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easyJet, down 3.7%, International Consolidated Airlines Group, down 3.3%. Airlines were trading lower after the US government issued a worldwide travel alert for US citizens. The US State Department said, based on current information, ISIS, Boko Haram, Al-Qaeda and other terrorist groups are planning attack in multiple regions. easyJet said it will cancel all flights to and from Sharm El Sheikh in Egypt until January 6. Worries about terrorism were dragging on shares of other travel-related stocks as well, including hotels operator InterContinental Hotels Group, down 2.5%, Premier Inn owner Whitbread, down 1.8%, and cruise operator Carnival, down 1.6%
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FTSE 250 - WINNERS
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Circassia Pharmaceuticals, up 5.5%. The pharmaceuticals company said its fluticasone propionate pressurised metered dose inhaler (pMDI) generic equivalent of GlaxoSmithKline's FLIXOTIDE pMDI for the prophylactic treatment of asthma has received a stamp of approval from the UK's Medicines and Healthcare Products Regulatory Agency. Approval means that the issue of a national licence will now begin. "Achieving this positive outcome is a major milestone for Circassia, marking the favourable conclusion of the company's first ever marketing authorisation application for a product using its particle-engineering technology," Chief Executive Steve Harris said in a statement.
NMC Health, up 2.6%. The United Arab Emirates-focused healthcare provider said it has struck a USD189.0 million deal to acquire a 51% stake in Fakih IVF Group. NMC said it has also struck an agreement to increase its stake in Dubai-based Fakih over time, conditional on certain conditions being met. NMC said the deal will strengthen its maternity and fertility business and give it an established presence and referral centres across different geographies. The cash required will come from existing cash and credit facilities, it said.
Telecom Plus, up 1.6%. The utility services provider said its pretax profit increased in the first half, in line with growth in revenue which met the company's expectations. The company said its pretax profit for the half to the end of September was GBP15.2 million, compared to GBP14.5 million a year earlier, as revenue rose to GBP294.0 million from GBP265.5 million. It will pay an interim dividend of 22.0 pence per share, up 16% on the 19.0p it paid out a year earlier. Telecom Plus said its organic customer growth in the half was in line with its expectations, with its total services supplied rising to 2.1 million from 2.0 million, while its member numbers for the period rose to 595,098 from 559,449.
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FTSE 250 - LOSERS
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AO World, down 4.3%. The online domestic appliance retailer reported that it swung to a loss in the first half as it invested in its German operations, booked start-up costs in other parts of Europe and revealed plans to launch in the Netherlands. AO World said it made a GBP8.0 million pretax loss in the six months ended September 30, compared with a pretax profit of about GBP800,000 in the corresponding half the prior year. Revenue rose by 22% to GBP264.3 million.
Paragon Group of Companies, down 4.2%. The buy-to-let mortgage lender and consumer debt purchaser reported higher pretax profit in its last financial year, lifted its dividend, and raised its share buyback programme by up to GBP50.0 million and extended it into 2016. It said pretax profit increased to GBP134.2 million in the year to September 30, compared with GBP122.8 million the prior year. The total dividend for the year increased to 11.0 pence from 9.0p.
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MAIN MARKET AND AIM - WINNERS
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Severfield, up 7.0%. The structural steel company said its pretax profit surged, revenue rose and said it would pay an interim dividend, having not paid one a year earlier. The company's pretax profit rose to GBP3.2 million from GBP1.7 million a year earlier, as revenue increased to GBP117.1 million from GBP97.4 million, helped by strong contract wins in its core construction and infrastructure operations. It said it would pay an interim dividend of 0.5 pence per share, having not made a payout a year earlier.
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MAIN MARKET AND AIM - LOSERS
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PCG Entertainment, down 17%. The Asia Pacific-focused online gaming and media company said Chairman Kung Min Lin has stepped down from his role and will be replaced by his deputy. Lin has stepped down with immediate effect due to an increased work since he took over as the chief executive of MoneySwap, the Chinese payments company. Lin took over the chief executive role earlier this month, having previously been the company's chairman. Richard Poulden, deputy chairman of PCG, has been appointed as its new chairman.
Chamberlin, down 14%. The castings and engineering company warned on its full-year outlook after its performance in the first half was hit by tough trading conditions and a hit from the weakness of the euro, which caused it to swing to a loss. The company reported a pretax loss of GBP426,000 in the six months ended September 30, compared with a pretax profit of GBP279,000 in the corresponding half the prior year, as revenue fell to GBP18.0 million from GBP21.1 million. "Looking ahead, given the current tough trading environment, the board expects underlying profitability for the current financial year to be below the GBP0.8 million achieved in the prior financial year," Chairman Keith Butler-Wheelhouse said.
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By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
24 Nov 2015 09:47
