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FTSE 250 movers: Premier Foods extends gains

Date: Wednesday 16 Feb 2011

FTSE 250 movers: Premier Foods extends gains

Premier Foods is extending gains on yesterday’s results after it announced that net debt fell £103m over the course of the year to £1,261m. However, total sales in 2010 eased to £2.57bn, from £2.66bn in 2009, a fall of 2.5%.

Not far behind is Morgan Crucible, which set itself a target of doubling underlying profits by 2013 after a strong performance in 2010. The firm, which specialises in engineered metals and thermal ceramics, saw profits in the year just ended jump by 115% to £67.7m on revenues up 8% at £1.02bn. Underlying profits rose by 59% to £75.7m.

Property business Helical Bar said it had made considerable progress in the last four months including its December placing of 10.7m shares which raised £29m to fund acquisition opportunities.

Edging higher is hotels group Millennium and Copthorne, which saw a strong rise in revenue per available room in 2010, with the upward trend continuing into 2011.

Outsource specialist Mitie Group is the heaviest faller, losing almost 7%, while support services peer Hays is also lower.

FTSE 250 - Risers
Premier Foods (PFD) 27.83p +8.08%
Inchcape (INCH) 417.20p +7.25%
Morgan Crucible Co (MGCR) 295.90p +7.02%
Forth Ports (FPT) 1,409.00p +4.53%
William Hill (WMH) 190.60p +4.15%
Ladbrokes (LAD) 141.10p +3.75%
Derwent London (DLN) 1,618.00p +3.65%
Hargreaves Lansdown (HL.) 602.50p +3.08%
Micro Focus International Plc (MCRO) 299.80p +3.02%
Exillon Energy (EXI) 410.00p +2.78%

FTSE 250 - Fallers
Mitie Group (MTO) 198.00p -6.69%
Catlin Group Ltd. (CGL) 387.00p -3.06%
Kenmare Resources (KMR) 38.82p -2.66%
CSR (CSR) 430.20p -2.23%
Britvic (BVIC) 428.70p -2.23%
SThree (STHR) 400.90p -2.12%
Ashmore Group (ASHM) 348.70p -2.00%
Paragon Group Of Companies (PAG) 187.80p -1.93%
International Personal Finance (IPF) 321.80p -1.89%
Hays (HAS) 123.10p -1.83%

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