Funding Circle Share News (FCH)

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Thursday.----------FTSE 100 - WINNERS----------Melrose Industries, up 3.9%. The industrial turnaround specialist said its 2018 results have beaten its own expectations. Melrose posted revenue of GBP8.61 billion in 2018, well above the GBP2.09 billion reported in 2017, though its pretax loss widened to GBP550 million from GBP28 million year-on-year. This was mainly due to higher finance costs as well as restructuring, acquisition, and amortisation costs. Excluding its GKN acquisition, Melrose's adjusted operating profit was GBP847 million, from GBP279 million in 2017. Melrose has reduced its net debt to earnings before interest, tax, depreciation, and amortisation ration to 2.3 times, ahead of guidance of 2.5 times. Melrose is paying a 3.05 pence final dividend, taking the 2018 total to 4.6p, compared to 4.2p returned in 2017. ----------Informa, up 2.2%. The events and business information company reported a strong increase in its annual revenue, rising 35%, which helped deliver an increase in profit. The company's revenue jumped to GBP2.37 billion from GBP1.76 billion a year ago. This led to pretax profit rising 5.2% to GBP282.1 million from GBP268.2 million. Furthermore, the company hiked its total dividend 7.1% to 21.90 pence per share from 20.45p. Going forward, the company added it remains committed to paying "attractive, progressive dividends".----------FTSE 100 - LOSERS----------Rio Tinto, down 7.3%, Persimmon, down 6.0%, Evraz, down 5.1%, BHP, down 3.0%. The stocks went ex-dividend meaning new buyers no longer qualify for the latest dividend payout. ----------NMC Health, down 6.7%. Shares in the UAE private healthcare operator were lower despite reporting a strong performance in 2018. For 2018, NMC reported a 22% rise in pretax profit to USD256.9 million from USD210.4 million in 2017. Earnings before interest, taxes, depreciation and amortisation increased by 38% to USD487.4 million from USD353.4 million the prior year, on revenue that grew 28% to USD2.06 billion from USD1.60 billion. NMC Health's Ebitda was just above group expectations reiterated in December, which guided the figure at USD480 million, as was revenue growth which was expected to be 24%. NMC Health declared a final dividend of 18.1 pence per share for 2018, up from 13.0p in 2017. The group paid no interim dividend for either year. Looking ahead, the group expects Ebitda to rise by 18% to 20% in 2019, and revenue to grow by 22% to 24% from its 2018 figures.----------Admiral, down 4.4%. The insurer's annual results were boosted by a change in its Ogden rate assumption, but warned of potential economic disruptions that may arise from a 'hard Brexit'. In 2018 Admiral posted a 18% increase in pretax profit to GBP476.2 million compared to GBP403.5 million pretax profit recorded in 2017. The company's overall group pretax profit was "favourably impacted" by the change in the Ogden rate. Admiral estimates the change in rate added GBP120 million to GBP140 million in pretax profit to its UK Motor's business reserves. However, Admiral highlighted potential risks from Brexit, including market volatility, free movement of people between the UK and the European Union, the impact on the import of car parts with potential impact on claims costs, its capital position and future dividend payments.----------Schroders, down 3.0%. The fund manager reported a drop in profit and assets in 2018 as the asset manager undergoes restructuring to focus on areas of growth. The company reported that pretax profit decreased by 15% to GBP649.9 million from GBP760.2 million in 2017. Schroders ended 2018 with GBP363.5 billion in assets under management, down 6.7% from GBP389.8 billion at the start. Market consensus had forecast Schroders would end 2018 with GBP413.3 billion in assets under management. The asset management unit saw GBP11.2 billion in net outflows, swung from GBP7.6 billion in inflows in 2017, with Schroders blaming "macro and political issues" which "impacted investor sentiment". Schroders's total assets under management and administration, which includes its wealth management business, decreased 5.7% to GBP421.4 at December 31 billion from GBP447.0 billion at January 1. Schroders suffered net outflows of GBP9.5 billion, swinging from GBP9.6 of net inflows in 2017.----------FTSE 250 - WINNERS----------Ultra Electronics, up 9.5%. JPMorgan raised the defence and energy firm to Overweight from Neutral. On Wednesday, Ultra hiked its 2018 dividend following a "good" second half. ----------Funding Circle Holdings, up 6.3%. The small and medium enterprise loans platform reported its first annual results since listing in September, saying it delivered against its IPO guidance. In 2018, Funding Circle reported a revenue increase of 50% to GBP141.9 million from GBP94.5 million, in line with its target at the time of its initial public offering in London. The company's pretax loss for 2018 widened, however, to GBP50.7 million from GBP36.3 million in 2017. Funding Circle's operating expenses jumped 47% to GBP193.5 million with staff costs rising 51% to GBP79.2 million on IPO-related costs, such as share-based payments. The company's marketing costs increased 49% to GBP57.8 million. Looking toward 2019, Funding Circle said it expects revenue above GBP200 million with its segment adjusted Ebitda expected to double.----------Premier Oil, up 6.2%. The oil and gas company said it swung to a profit in a successful 2018. Premier posted a USD133.4 million pretax profit in 2018, after a pretax loss of USD253.8 million a year prior. The FTSE 250 energy firm's revenue climbed to USD1.40 billion from USD1.04 billion, helped by higher production and oil prices. Production in 2018 was a record 80,500 barrels of oil equivalent per day, after 75,000 barrels in 2017, though guidance in 2019 is for output to fall back again to 75,000 barrels of oil equivalent per day. Premier's cash flow from operations in 2018 surged 64% to USD777.2 million, with capital expenditure coming in below forecasts at USD353 million. ----------FTSE 250 - LOSERS----------Vietnam Enterprise Investments, down 6.5% at 433.00p. APG Asset Management has sold its entire 17% holding in Vietnam Enterprise Investments, Jefferies said. Broker Jefferies ran a bookbuild, announced Wednesday afternoon, to allow APG to sell 37.0 million shares on behalf of funds managed by APG. The stock was sold at a price of 415.5 pence per share, giving a value of GBP153.9 million. Vietnam Enterprise received no proceeds from the sale, as they were existing shares.----------OTHER MAIN MARKET AND AIM - WINNERS----------Alfa Financial Software, up 21%. The asset finance software firm provided a positive outlook for 2019 after a "challenging" 2018. In 2018, Alfa Financial reported a 34% decrease in pretax profit to GBP22.5 million from GBP33.9 million. The company's revenue decreased 19% to GBP71.0 million from GBP87.8 million in 2017. The company attributed the drop in revenue to a "major customer" delaying the implementation of an Alfa Financial product and the company's conversion of its sales pipeline being "slower than expected". Alfa Financial said 2018 was a "challenging year" but saw its revenue increase 16% in the second half year-on-year. Alfa Financial said it expects to perform in line with its own expectations in 2019.----------OTHER MAIN MARKET AND AIM - LOSERS----------Quiz, down 53%. The fashion retailer cut its revenue and earnings guidance after experiencing a "significant shortfall in sales". Quiz said that since the beginning of January, it has continued to operate in a challenging consumer backdrop, in which people were more cautious with regards to spending. As a result, it recorded lower sales that previously expected, with total revenue down 1.7% since the beginning of January. Online revenue was up 16% but an 11% drop in UK standalone store revenue offset that improvement. Consequently, Quiz cut its revenue guidance for its financial year ending March 31 to GBP129.0 million from a previously expected GBP133.0 million. A year ago, Quiz's revenue came in at GBP116.4 million. Adjusted earnings before interest, taxes, depreciation and amortisation is now expected at GBP4.5 million, down from a previous forecast of GBP8.2 million. Given the recent trading performance, Quiz's board launched a review of the business with a view to mitigating the effects of changed trading conditions. The firm expects to report the result of the review with its annual results in June. ----------