FTSE 250 movers: Genus surges, WoS slips on downgrade
By Frank Prenesti
Date: Wednesday 15 Jan 2025
(Sharecast News) - FTSE 250 (MCX) 20,048.36 1.43%
Currys raised full-year profit guidance on Wednesday after the electricals retailer reported a strong performance over Christmas and Black Friday with a 2% rise in UK and Ireland underlying sales as consumers bought more AI laptops and mobile phones.
The company on Wednesday said it expected adjusted profit before tax of £145m - £155m, compared with forecasts of £140m and up 31% year on year. Shares in the form were up 10%.
A strengthened balance sheet meant the company expects to resume dividend payments with a distribution of 1.3p a share alongside full-year results in July, Currys said.
Animal genetics firm Genus said on Wednesday that it expects full-year adjusted pre-tax profit to be at the top end of the range of market forecasts after a strong first half.
Consensus expectations are for a range of between £63m and £67.4m.
In an update for the six months to the end of December, Genus said it expects first-half adjusted pre-tax profit of £35m, which is ahead of expectations.
Vistry Group reported a sharp decline in adjusted profit before tax for the financial year ended 31 December on Wednesday, to around £250m from £419.1m in 2023.
The FTSE 250 housebuilder said in its trading update that the result aligned with the revised guidance it issued in December, reflecting delays in partner agreements, softer open market sales, and the decision to forego certain land transactions.
Revenue for the year increased 9% to £4.4bn, supported by a 7% rise in total completions to about 17,200 units.
The news boosted sector rival Bellway and building materials supplier Travis Perkins.
Pub group Mitchells & Butlers reported a jump in first-quarter sales on Wednesday as it hailed a "very strong" performance over the festive period.
In an update for the 15 weeks to 11 January, the company said like-for-like sales grew 3.9%, remaining "well ahead" of the market, despite the impact of very cold and stormy weather over the last couple of weeks.
In the core three-week festive period, LFL sales rose 10.4%, "built on numerous record sales performances through the estate and the brand portfolio," M&B said.
Deutsche Bank downgraded its stance on Watches of Switzerland to 'hold' from 'buy' on Wednesday as it said it was "time to pause".
The bank, which lifted its price target on the stock to 510p from 490p, said that in the mid term, WOSG remains one of its most preferred growth stories.
"Whilst we won't argue for a return to Covid high multiples that saw WOSG trade above luxury brands themselves, we do believe this is best in class retail, acting as a strategic partner in a resilient luxury category," it said.
Market Movers
FTSE 250 - Risers
Genus (GNS) 1,698.00p 19.24%
Currys (CURY) 91.15p 11.16%
Vistry Group (VTY) 566.50p 10.11%
Ashmore Group (ASHM) 155.70p 5.99%
Mitchells & Butlers (MAB) 240.50p 5.48%
Just Group (JUST) 152.00p 5.12%
Bellway (BWY) 2,306.00p 4.91%
Workspace Group (WKP) 451.00p 4.28%
Bakkavor Group (BAKK) 136.00p 4.21%
Travis Perkins (TPK) 681.00p 4.13%
FTSE 250 - Fallers
Aston Martin Lagonda Global Holdings (AML) 98.30p -2.87%
Oxford Nanopore Technologies (ONT) 137.60p -2.69%
Endeavour Mining (EDV) 1,489.00p -1.59%
Watches of Switzerland Group (WOSG) 464.40p -1.40%
North Atlantic Smaller Companies Inv Trust (NAS) 3,600.00p -1.10%
Edinburgh Worldwide Inv Trust (EWI) 193.80p -1.02%
Vietnam Enterprise Investments (DI) (VEIL) 591.00p -1.01%
BH Macro Ltd. GBP Shares (BHMG) 407.50p -0.97%
Burberry Group (BRBY) 950.00p -0.59%
Mony Group (MONY) 185.60p -0.38%
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