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FTSE 250 movers: Mitchells&Butler's paces gains following results

By Alexander Bueso

Date: Wednesday 20 Nov 2019

FTSE 250 movers: Mitchells&Butler's paces gains following results

(Sharecast News) - Pub owner Mitchells&Butler's shares topped the leaderboard for the second-tier index on Thursday following the release of its latest full-year figures, with adjusted profits before tax printing at £197.0m, which was ahead of analysts' forecasts and the comparable prior year period's £178.0m.
Like-for-like sales growth meanwhile printed at up by 3.5% while operating margins improved by 10 basis points to 14.2%.

Canaccord Genuity said it expected the company's shares to extend their recent "strong" run, telling clients that the outfit's 'Ignite' self-help programme was proving a boon, while highlighting the latent value in asset intense pubcos in general and M&B in particular.

Bodycote shares were right behind on the back of what analysts at Jefferies labelled a "very robust" trading update for the four months ending on 31 October, with continued strength in civil aerospace, automobiles and general industrial.

Intermediate Capital Group on the other hand was on the back foot despite posting an 11.0% jump in assets under management for the six months to 30 September to reach €41.1bn, together with €4.6bn of new money raised in the period.

The fund manager's shares nevertheless remained within striking distance of their all-time highs.

Commenting on the firm's results, analysts at Barclays said that the company continued to offer a three-year compound annual rate of growth in fund management profits before tax of more than 15.0% and raised their target price from 1,530.0p to 1,580.0p while reiterating their 'overweight' stance for the shares.

FTSE 250 - Risers

Mitchells & Butlers (MAB) 466.00p 4.48%
Micro Focus International (MCRO) 1,087.20p 4.38%
Bodycote (BOY) 864.50p 3.59%
Bakkavor Group (BAKK) 128.80p 3.04%
Sirius Minerals (SXX) 3.51p 2.69%
FDM Group (Holdings) (FDM) 834.00p 1.96%
Dunelm Group (DNLM) 824.50p 1.85%
Vesuvius (VSVS) 423.80p 1.73%
Airtel Africa (AAF) 70.10p 1.59%
Avast (AVST) 443.40p 1.51%

FTSE 250 - Fallers

SSP Group (SSPG) 625.00p -4.58%
Stagecoach Group (SGC) 131.50p -3.52%
Ascential (ASCL) 331.00p -3.50%
CLS Holdings (CLI) 260.00p -3.17%
Elementis (ELM) 171.50p -2.89%
Big Yellow Group (BYG) 1,114.00p -2.88%
Domino's Pizza Group (DOM) 297.10p -2.84%
IWG (IWG) 399.70p -2.77%
Pets at Home Group (PETS) 201.40p -2.71%
Intermediate Capital Group (ICP) 1,481.00p -2.63%

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