FTSE 250 movers: Raspberry Pi surges; CVS slumps
By Frank Prenesti
Date: Thursday 24 Sep 2026
(Sharecast News) - FTSE 250 (MCX) 24,293.16 -0.28%
Raspberry Pi surged on Thursday as it lifted its full-year profit outlook and hailed record first-half profit and revenue, pointing to strong OEM and reseller demand and increased unit shipments.
In the six months to 30 June, adjusted earnings before interest, tax, depreciation and amortisation jumped 108% to $40.3m, with revenue up 90% at $256.9m.
Pre-tax profit rose to $19.6m from $6.2m in the same period a year earlier.
The company said revenue and profitability were supported by strong unit shipments and a favourable product mix, and by unit economics which reflect both its own price increases in FY 2026 and the continued consumption of memory inventory acquired at lower prices during 2025.
The single board computer maker said demand remained robust across both its OEM customer base and its reseller channel. Total unit shipments ticked up 17% to 4.2 million.
As far as the outlook is concerned, Raspberry Pi said the exceptional unit economics achieved in the first half have moderated, with full-year earnings before interest, tax,depreciation and amortisation expected to be ahead of market consensus.
Chief executive Eben Upton said: "Demand from our OEM customers and our reseller channel was strong throughout, and our order backlog doubled during the period. The decision in FY 2025 to build significant strategic memory inventory has allowed us to maintain product availability at a time when smaller competitors have struggled to secure allocation.
"With a substantial order backlog, expanding production capacity and a strong pipeline of OEM opportunities, Raspberry Pi is well positioned for rapid growth in unit shipments in 2027 and beyond."
Shares in CVS Group fell sharply on Thursday after the veterinary services provider reported a decline in statutory profits, as costs associated with the UK competition regulator's investigation weighed on the bottom line and like-for-like sales growth slowed in the second half.
Profit before tax slipped 1.8% to £32.0m in the year to 30 June, despite revenue rising 5.9% to £712.8m.
CVS booked £10.6m of exceptional costs, up from £6.0m a year earlier. That included £1.7m relating to the Competition and Markets Authority investigation into pricing and transparency concerns across the vet services sector, and £5.1m for implementing the regulator's remedies, including rebranding costs. A further £3.8m related to the company's move to the London Stock Exchange's Main Market.
Adjusted pre-tax profit, which strips out exceptional and other items, increased 7.6% to £84.9m, while adjusted EBITDA rose 5.1% to £141.5m.
Group like-for-like sales rose 2.1% over the full year, improving from just 0.2% in the year to June 2025, but growth slowed from 2.7% in the first half. CVS said weaker UK consumer confidence and extreme hot weather in May and June hit footfall and dampened growth in the final quarter.
The company said the new financial year had made a "solid start", with positive like-for-like sales growth, and maintained its medium-term target of 4% to 8% organic growth. It expects FY27 performance to align with market expectations, currently for adjusted EBITDA of around £150.4m and adjusted EPS of 94.9p.
CVS also proposed a final dividend of 9.0p per share, up from 8.5p, and said its £50m share buyback programme remained under way.
Victrex slid as it outlined new five-year financial targets ahead of its capital markets day.
FTSE 250 - Risers
Raspberry PI Holdings (RPI) 733.25p 16.67%
Schroder Asian Total Return Investment Company (ATR) 746.00p 3.32%
Telecom Plus (TEP) 818.00p 3.04%
Ocado Group (OCDO) 236.20p 2.87%
Harbour Energy (HBR) 281.00p 2.70%
4Imprint Group (FOUR) 4,612.00p 2.40%
Oxford Biomedica (OXB) 494.00p 2.38%
FirstGroup (FGP) 176.00p 2.03%
Dr. Martens (DOCS) 68.40p 1.94%
Hammerson (HMSO) 349.00p 1.93%
FTSE 250 - Fallers
Victrex plc (VCT) 898.00p -8.27%
Ceres Power Holdings (CWR) 409.80p -5.34%
CVS Group (CVSG) 1,233.00p -5.22%
Pan African Resources (PAF) 123.80p -4.10%
AO World (AO.) 89.50p -3.98%
Rightmove (RMV) 450.40p -3.76%
PPHE Hotel Group Ltd (PPH) 1,496.00p -3.23%
Hochschild Mining (HOC) 563.50p -2.67%
Globaldata (DATA) 57.90p -2.61%
Endeavour Mining (EDV) 4,491.00p -2.28%
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