FTSE 250 movers: M&B slumps; AJ Bell surges

(Sharecast News) - FTSE 250 (MCX) 22,869.63 0.14%

Shares in pub operator Mitchells & Butlers slumped on Thursday as it reported a slowdown in second quarter sales as consumers reined in spending.

Sales growth in the second quarter reduced to 1.8%, reflecting a strong performance comparative, which benefitted from favourable weather, the company said. Like-for-like sales grew by 3.0% in the 30 weeks to 25 April and by 1.1% in the most recent three-week period.

However, it added that broader macroeconomic conditions "appear to have had a modest impact on discretionary spending during the period".

Shares in Qinetiq surged on Thursday as the UK defence company reported a big jump in its order book and extended its share buyback programme by £200m.

Order intake soared 83% to a record £3.5bn in fiscal 2026 with underlying operating profits up 18% to £218m as countries around the world spend more on weapons in response to the growing geopolitical instability.

Qinetiq's order backlog rose 55% to £4.4bn. It is now forecasting 2027 revenue growth of 3-5% and operating margins of 11.0-11.5%.

"The threat environment continues to intensify, spanning advanced weapons, drones, cyber and electronic warfare. Customers are investing to deter and defeat increasingly sophisticated threats, with a growing emphasis on rapid innovation, resilience and adaptability," the company said.

Investment platform AJ Bell lifted its full-year outlook on Thursday as it hailed an "excellent" first-half performance, with record customer growth.

In the six months to the end of March, underlying pre-tax profit rose 15% to £79m, with revenue up 19% to £183m.

Underlying diluted earnings per share were 18% higher at 14.61p and the company declared an interim dividend of 5p per share, up 11% on the same period a year earlier.

AJ Bell also announced an additional share buyback programme of up to £15m, to follow its ongoing £50m share buyback announced in December.

FTSE 250 - Risers

AJ Bell (AJB) 608.00p 13.67%

QinetiQ Group (QQ.) 465.00p 7.97%

XP Power Ltd. (DI) (XPP) 1,884.00p 6.44%

Investec (INVP) 643.00p 5.31%

Ceres Power Holdings (CWR) 625.00p 4.45%

B&M European Value Retail (BME) 171.10p 4.01%

Chemring Group (CHG) 501.00p 3.02%

Oxford Nanopore Technologies (ONT) 124.50p 2.96%

IntegraFin Holding (IHP) 341.50p 2.55%

Harworth Group (HWG) 127.00p 2.42%

FTSE 250 - Fallers

Mitchells & Butlers (MAB) 232.50p -7.52%

Playtech (PTEC) 337.80p -7.29%

RS Group (RS1) 660.00p -4.20%

Close Brothers Group (CBG) 441.60p -4.00%

Ithaca Energy (ITH) 266.70p -3.53%

Bluefield Solar Income Fund Limited (BSIF) 79.50p -3.40%

Bytes Technology Group (BYIT) 348.60p -3.11%

RTW Biotech Opportunities Ltd (RTW) 2.15p -2.71%

Applied Nutrition (APN) 215.50p -2.71%

The Renewables Infrastructure Group Limited (TRIG) 70.60p -2.35%