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FTSE 250 movers: Halfords leads the peloton

Thu, 21st Jan 2016 15:41

(ShareCast News) - The FTSE 250 was in the black mid-afternoon Thursday, up 164.74 points (1.05%) to 15,805.75.Halfords pedalled to the front of the peloton after it said group like-for-like sales rose 0.3% in the third quarter with the company reporting that full year pre-tax profit expectations would be unchanged.The car parts and bikes retailer added that full year retail gross margins would fall to -25 to -75 basis points, but that full year retail operating cost growth to be in the range of +1.0 - 2.0% against previous guidance of +2.5 - 3.5%. Group pre-tax profits were expected to be in the range of £78m-£82m. For the quarter, retail like-for-like sales were flat, while at the Autocentres division they rose 1.9%. In cycling, growth in sales of bikes and cycle repair more than offset a small decline in parts, accessories and clothing, while in motoring, car maintenance sales were impacted by the warm weather, partially offset by a strong performance in sales of wiper blades and bulbs, and continued growth in fitting services.Shares in specialist clothing retailer N Brown rocketed as it posted a jump in third quarter revenue and said it was on track to meet full year expectations. In the 18 week period to 2 January 2016, group revenue rose 4.1%, with like-for-like sales also up 4.1% and the online business performing particularly well.Online penetration increased 5 percentage points year-on-year to 66%, with total online sales up 13%. Meanwhile, 75% of new customer demand was generated online during the period, which is an increase of 7 percentage points.It was a slightly different picture for high street stores, however, which saw flat sales on a like-for-like basis and in year -on-year terms. The company said its 'power brands' - JD Williams, Simply Be and Jacamo - all performed well, with double-digit growth in the period. The Simply Be brand saw strong growth in the US, with year-on-year turnover growth of 20% at constant-currency.Tanzania-focused Acacia Mining also had a good day after it said gold production edged up in 2015 and announced plans to raise guidance for this year following the ramp-up of the flagship Bulyanhulu mine.Gold output was 2% higher on the year at 731,912 ounces, which the company attributed in part to the ramp-up at Bulyanhulu in the last three months of the year. For the fourth quarter, gold production was up 11% from the same period a year ago to 200,723 ounces as output at Bulyanhulu increased and thanks to improved grades and recoveries at North Mara.Electra Private Equity was the second-tier market's biggest faller after it went ex-dividend today, paying 78p per share. In October the investment firm posted results showing it increased its net profit by 78% to £332m for the year and posted a net asset value return of 25%. It reported the diluted net asset value per share was 3,914p, equating to a total return of 25%. The company had £188m invested in the year, with £259m realised and a total portfolio return of £429m - 34% on the opening portfolio - and had a total investment portfolio of £1.63bn.FTSE 250 - RisersHalfords Group (HFD) 361.80p 11.32%Brown (N.) Group (BWNG) 307.40p 9.40%Acacia Mining (ACA) 175.60p 8.53%OneSavings Bank (OSB) 307.50p 8.27%Tullow Oil (TLW) 127.30p 7.70%Amec Foster Wheeler (AMFW) 372.50p 7.69%Evraz (EVR) 63.85p 7.22%Ocado Group (OCDO) 282.60p 6.64%Countrywide (CWD) 350.50p 5.60%Drax Group (DRX) 220.50p 5.45%FTSE 250 - FallersElectra Private Equity (ELTA) 3,400.00p -5.05%IP Group (IPO) 170.80p -3.88%Home Retail Group (HOME) 134.70p -3.79%Just Eat (JE.) 404.80p -3.27%P2P Global Investments (P2P) 930.00p -3.02%Clarkson (CKN) 2,006.00p -2.86%P2P Global Investments C (P2P2) 930.00p -2.52%PZ Cussons (PZC) 263.60p -2.51%IG Group Holdings (IGG) 711.00p -2.40%Rightmove (RMV) 3,724.00p -2.18%
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