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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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3 Feb 2017 07:04

Electra Private Equity to sell audio console manufacturing business

(ShareCast News) - Epiris, the portfolio manager of buyout fund Electra Private Equity, is to sell its Audiotonix business, which manufactures audio mixing consoles, to European private equity firm Astorg. From the sale, which is expected to close in the first quarter of 2017, Electra will receiv

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30 Jan 2017 10:11

Electra Private Equity pockets £45m from Davies sale

(ShareCast News) - Epiris, the portfolio manager of buyout fund Electra Private Equity, has sold insurance claims service provider Davies Group to US-based private equity firm HGGC for £90m. Electra has received proceeds of £45m from the sale, which is a £2m uplift on the valuation of its investment

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23 Dec 2016 09:27

BROKER RATINGS SUMMARY: HSBC Raises Electra Private Equity To Buy

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23 Dec 2016 08:19

LONDON BRIEFING: Banks Probed, Fined And Bailed Out

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20 Dec 2016 09:26

UPDATE 2-Canada's CCL to buy British bank note maker Innovia for $842 mln

* CCL buying Innovia from group of private equity firms * Electra Private Equity says makes 106 mln stg from sale * Innovia's polymer bank notes faces objections by vegetarians (Updates dateline, adds analyst comment, details from stake seller Electra, bullet points) By Aravin

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20 Dec 2016 07:24

Electra's Espiris sells Innovia for $1.13bn

(ShareCast News) - Private equity outfit Electra, said on Tuesday its portfolio manager Epiris had sold Innovia Group, a manufacturer of speciality films and substrate for polymer banknotes to CCL Industries for an enterprise value of $1.13bn. Based on today's exchange rates, Electra would receive p

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19 Dec 2016 07:45

UPDATE 1-Electra's manager Epiris to sell Parkdean Resorts for 1.35 bln stg

* To sell caravan holiday park firm to Onex Corporation * Electra to receive around 405 mln stg from sale * Internal rate of return on the deal around 46 pct (Adds details) By Noor Zainab Hussain Dec 19 (Reuters) - British buyout fund Electra Private Equity said its port

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19 Dec 2016 07:27

Electra Private Equity bags £405m from caravan sites sale

(ShareCast News) - Electra Private Equity is due to receive roughly £405m proceeds from the £1.35bn sale of Parkdean Resorts to Canadian investors Onex Corporation. The sale of the caravan park owner, which is expected to complete on 1 March 2017, will see an uplift of £25m on Electra's book value i

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19 Dec 2016 07:25

Electra's manager Epiris to sell Parkdean Resorts for 1.35 bln stg

Dec 19 (Reuters) - British buyout fund Electra Private Equity said its portfolio manager Epiris had agreed to sell Parkdean Resorts, an operator of caravan holiday parks, to private equity firm Onex Corporation for 1.35 billion pounds ($1.69 billion). The deal is expected to close in the f

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9 Dec 2016 10:47

UPDATE 1-Electra posts bumper returns ahead of split from Epiris

(Adds detail, background) LONDON, Dec 9 (Reuters) - British buyout fund Electra Private Equity reported strong full-year returns on Friday as it prepares to cut ties with its portfolio manager Epiris. Electra said it made a return of 35 percent in diluted net asset value (NAV) per sha

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9 Dec 2016 07:08

Electra Private Equity posts solid returns

(ShareCast News) - Electra Private Equity posted its preliminary results for the year to 30 September on Friday, with a net asset value per share of 5,149p, representing a total return of 35% for the year. The FTSE 250 firm's share price was 4,310p, a total return of 36% for the year, compared with

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5 Dec 2016 14:35

Electra Partners renamed Epiris as tries to forge new future

By Dasha Afanasieva LONDON, Dec 5 (Reuters) - Buyout firm Electra Partners has renamed itself Epiris, aiming to forge a new future after being sacked as the portfolio manager for Electra Private Equity earlier this year. Epiris - a combination of EP for Electra Partners and "Iris", t

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8 Nov 2016 08:11

Electra Private Equity to launch £200m share buyback

(ShareCast News) - Electra Private Equity said on Tuesday that it plans to return up to £200m to shareholders by a way of a tender offer. The company said the return of excess cash to shareholders should reduce the negative impact of holding this cash on growth in net asset value per ordinary share.

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14 Oct 2016 07:28

Electra Private Equity to migrate to a corporate structure following review

(ShareCast News) - After a review of Electra Private Equity's investment strategy, policy and structure the company is to return control of all functions to the board in order to create value for shareholders, while switching to a corporate structure. Following on from the first phase of the review

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7 Oct 2016 07:30

Electra Partners sells Vidal Group to M3 Inc

(ShareCast News) - Electra Partners' portfolio company AXIO Group has received a binding offer from M3 Inc. to purchase Vidal Group, a European provider of reference drug information for healthcare professionals, for €100m. The proposed transaction, which remains subject to certain conditions, would

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