FTSE 250 movers: Drax powers ahead; 4imprint slides
By Frank Prenesti
Date: Tuesday 12 Nov 2024
(Sharecast News) - FTSE 250 (MCX) 20,553.27 -0.82%
Power generation business Drax said on Tuesday that full-year profits looked set to top £1.0bn on the back of a strong performance from its electricity and pellet business.
Drax stated FY underlying profits would be at the top end of consensus forecasts of £993.0m to £1.03bn as its flexible power generation and pellet production units had done notably well
However, Drax highlighted that it was seeking some insight into Downing Street's thinking regarding future plans for the energy sector before it made any further investments in the UK.
Drax chief executive Will Gardiner stated that while both carbon storage and flexible generation were included in the UK's net zero plans, further investment was contingent on "gaining further clarity" on the frameworks for continuing the operation of its power station beyond 2027 and supporting BECCS conversions from 2030.
Bank of Georgia Group reported a strong third-quarter financial performance on Tuesday, with consolidated profit for the period rising by 42.5% year-on-year to GEL 509.3m (£145.29m), reflecting a return on average equity of 32.1%.
4imprint Group reported a robust performance for the 10 months through October in an update on Tuesday, achieving revenue growth and maintaining profitability in a challenging North American market.
Renewi reported a solid first-half performance on Tuesday, with revenue from continuing operations up 4% to €874.5m, driven by strong pricing in its commercial waste division and significant growth in specialities.
FTSE 250 - Risers
Drax Group (DRX) 679.50p 5.84%
Bank of Georgia Group (BGEO) 5,080.00p 5.18%
Kainos Group (KNOS) 875.00p 3.67%
XPS Pensions Group (XPS) 370.00p 1.93%
PureTech Health (PRTC) 171.80p 1.66%
Chemring Group (CHG) 369.50p 1.37%
Travis Perkins (TPK) 808.50p 1.32%
Trustpilot Group (TRST) 273.00p 1.30%
Babcock International Group (BAB) 508.50p 0.99%
Bytes Technology Group (BYIT) 462.00p 0.92%
FTSE 250 - Fallers
4Imprint Group (FOUR) 5,010.00p -7.90%
Burberry Group (BRBY) 727.60p -6.48%
Wood Group (John) (WG.) 57.75p -6.17%
Watches of Switzerland Group (WOSG) 413.40p -5.70%
Wizz Air Holdings (WIZZ) 1,430.00p -5.36%
Direct Line Insurance Group (DLG) 153.40p -4.48%
Renewi (RWI) 587.00p -4.24%
SSP Group (SSPG) 154.80p -4.21%
Pennon Group (PNN) 540.50p -3.57%
Helios Towers (HTWS) 108.80p -3.55%
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