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FTSE 250 movers: Euromoney rises on strong fourth quarter

Tue, 24th Sep 2013 16:03

Continued growth in the US, and a return to growth for advertising revenues and acquisitions enabled publisher Euromoney Institutional Investor to issue a strong trading update for the fourth quarter. With improved year-on-year performance in the fourth quarter, the group said it expected to announce a pre-tax profit of at least £114m for the year to end-September, which is up 6.7% compared to a £106.8m adjusted profit in 2012. Finance house Close Bros was also up after it reported a strong set of full year results as Asset Management returned to profit while Banking and Securities improved and underlined its confidence in future trading with an increased dividend. Adjusted operating income increased 10% to £582.9m for the year ended July 31st 2013 and adjusted operating profit increased 24% to £166.5m, reflecting strong growth in Banking and a return to profitability in Asset Management. Adjusted basic earnings per share increased 23% to 83.1p.Meanwhile, Ocado shares have continued on their recent bumpy ride, today sitting firmly in the red. This was despite an interview with its co-founder who said that despite the recent climate "Ocado has been busy growing". As on the top tier index, miners were suffering, with Hochschild, Ferrexpo, Centamin, and Afren all taking a hit. FTSE 250 - RisersEuromoney Institutional Investor (ERM) 1,151.00p +9.51%Diploma (DPLM) 637.00p +6.08%Savills (SVS) 613.00p +5.42%Close Brothers Group (CBG) 1,190.00p +5.03%Computacenter (CCC) 529.50p +4.85%Enterprise Inns (ETI) 147.90p +4.38%Alent (ALNT) 367.50p +3.87%United Drug (UDG) 333.90p +3.50%Berendsen (BRSN) 905.50p +3.49%Howden Joinery Group (HWDN) 294.40p +3.33%FTSE 250 - FallersOcado Group (OCDO) 379.80p -4.86%Hochschild Mining (HOC) 190.90p -3.15%Ferrexpo (FXPO) 174.30p -3.06%Centamin (DI) (CEY) 44.06p -1.67%AL Noor Hospitals Group (ANH) 848.00p -1.62%Cairn Energy (CNE) 258.20p -1.60%Afren (AFR) 143.20p -1.38%Crest Nicholson Holdings (CRST) 335.30p -1.35%Elementis (ELM) 248.20p -0.92%Domino's Pizza Group (DOM) 582.00p -0.85%NR

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