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FTSE 250 movers: JD Sports sprints ahead, Galliford Try crumbles

By Duncan Ferris

Date: Tuesday 16 Apr 2019

FTSE 250 movers: JD Sports sprints ahead, Galliford Try crumbles

(Sharecast News) - London\'s FTSE 250 index was 0.54% higher at 19,914.54 in afternoon trade on Tuesday, with JD Sports leading the way on the back of its full year results.
The sportswear retailer also rose as it reported a 49% increase in revenue to £4.7bn for the 52 weeks ended 2 February, with a 15.5% increase in profit before tax and exceptionals to £355.2m.

Analysts from Shore Capital said: \"These are a record set of results showing continued momentum across the board. In particular, we highlight LFL sales in Sports Fashion of 6%, with double digit growth from both Europe and Asia. There are continued encouraging positive noises about the US business Finish Line, where the focus is on improving the performance of the shopping mall stores, whilst also developing new locations in the major cities.\"

Card Factory climbed as it posted a drop in full-year underlying profit and like-for-like sales, but a rise in revenue amid a \"tough\" consumer environment and a drop in footfall across the high street, while Ashmore gained as the asset manager said assets under management were up 11.2% in the third quarter as emerging markets found favour with investors.

Galliford Try shares crumbled as the construction group warned that full-year post-exceptional pre-tax profit would be around £30m to £40m below the current consensus forecast, with contemporary Kier also dipping at the news.

Russ Mould, investment director at AJ Bell, said: \"Today\'s big profit warning from Galliford Try just adds to a wider negative trend which has seen one constituent go bust in Carillion and others such as Kier see their share prices collapse and balance sheets come under significant pressure. Cut throat competition in the sector resulted in a lack of discipline and low-ball bids for contracts which made turning a profit nearly impossible.\"

Recruitment company Hays was in the red as it reported \"good\" net fee growth of 6% in its third quarter, with underlying growth of 5% adjusted for the timing of Easter.

Precious metals miners Hochschild Mining and Centamin were lower as gold prices dropped to their lowest level since January.

Market Movers

FTSE 250 (MCX) 19,914.54 0.54%

FTSE 250 - Risers

JD Sports Fashion (JD.) 576.06p 8.28%
Card Factory (CARD) 188.88p 6.65%
Ashmore Group (ASHM) 475.00p 4.30%
Games Workshop Group (GAW) 3,876.00p 4.25%
Wizz Air Holdings (WIZZ) 3,441.00p 3.36%
Restaurant Group (RTN) 129.70p 3.18%
Pets at Home Group (PETS) 146.50p 2.66%
Close Brothers Group (CBG) 1,602.00p 2.63%
Sirius Minerals (SXX) 21.98p 2.61%
Essentra (ESNT) 429.60p 2.58%

FTSE 250 - Fallers

Galliford Try (GFRD) 582.00p -19.78%
Hays (HAS) 157.65p -3.34%
IP Group (IPO) 97.70p -2.69%
Mediclinic International (MDC) 303.80p -2.66%
Serco Group (SRP) 123.00p -2.61%
Hochschild Mining (HOC) 186.90p -2.55%
AJ Bell (AJB) 340.00p -2.30%
Metro Bank (MTRO) 821.00p -2.26%
Centamin (DI) (CEY) 83.72p -2.15%
Kier Group (KIE) 368.60p -1.71%


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