FTSE 250 movers: Meggitt keeps index flying in the black

(ShareCast News) - In contrast to its older sibling, the FTSE 250 was in the black on Tuesday afternoon, up 16.35 points (0.10%) to 16,305.15.Meggitt led the pack after it posted a small rise in 2015 pre-tax profit and lifted its dividend despite what it referred to as a challenging year.For the year ended 31 December, the aerospace and defence firm said statutory pre-tax profit nudged up 1% to £210.2m from £208.9m in 2014, as revenue grew 6% to £1.65bn.Chief executive Stephen Young said: "2015 was a challenging year for the group, with volatility across a number of our end markets affecting financial performance. However, we are confident that we are taking the right actions in the context of our long-cycle business."The record levels of investment in R&D and new product introduction follow a very successful period of winning work on new platforms. This will drive revenue growth for many decades."Wood Group wasn't too far behind despite the oil services firm reporting a drop in earnings for 2015 amid significantly reduced customer activity, as weak oil prices took their toll.For the year ended 31 December, earnings before interest, taxes and amortisation fell 14.5% to $469.7m (£333m), which was in line with the company's guidance.Total revenue, meanwhile, fell to $5.85bn from $7.62bn.The company said conditions in oil and gas markets became increasingly challenging in 2015, with oil prices down by around a further 30% and exploration and production capital expenditure down around 20%.It said the expectation of a lower-for-longer commodity price environment has led many global E&P customers to reassess capex and opex spending plans, with industry commentators anticipating further spending reductions in 2016.Investors were also happy to place a bet on Ladbrokes, after it saw 3% growth in revenue for 2015 but a hit in profit as it implements its growth strategy.For the year to 31 December 2015, revenue grew from £1.16bn to £1.19bn excluding exceptional items and revenue from high rollers, which can vary significantly from year to year.Retail revenue in the UK grew 2% while digital revenue rose 12.9%, both boosted by a strong fourth quarter.However, profit before tax dropped over 46% from £98m to £52.5m as the company invested more in its products and marketing in line with its growth strategy.Of the fallers, Drax took a big hit despite informing the market its EBITDA for the year to 31 December 2015 is in line with guidance.The power company reported it had dropped from £229m in 2014 to £169m after being hit with the removal of its Levy Exemption Certificates and the deterioration in commodity prices.However, the company said it was mitigated by strong cash flow hedges, flexible operations and increasing biomass generation.Underlying earnings also nearly halved from £96m to £46m, while profit before tax plunged from £166m to just £59m.That led the company to slash its final dividend from 7.2p per share in 2014 to just 0.2p per share.FTSE 250 - RisersMeggitt (MGGT) 432.60p 12.04%Wood Group (John) (WG.) 626.00p 7.28%Ladbrokes (LAD) 129.40p 5.72%Morgan Advanced Materials (MGAM) 227.00p 5.24%Indivior (INDV) 165.70p 4.48%Pets at Home Group (PETS) 272.10p 4.09%TalkTalk Telecom Group (TALK) 212.80p 3.65%Auto Trader Group (AUTO) 393.40p 3.44%Ashmore Group (ASHM) 234.60p 3.35%Serco Group (SRP) 81.15p 2.98%FTSE 250 - FallersRestaurant Group (RTN) 541.00p -3.57%Drax Group (DRX) 249.60p -3.37%Unite Group (UTG) 608.00p -3.34%Mediclinic International (MDC) 825.50p -3.05%Computacenter (CCC) 812.50p -2.69%Evraz (EVR) 65.10p -2.54%Amec Foster Wheeler (AMFW) 357.50p -2.30%Rank Group (RNK) 248.00p -2.25%Weir Group (WEIR) 911.00p -2.20%Essentra (ESNT) 810.50p -2.17%