FTSE 250 movers: Endeavour shines, Hill & Smith falls

(Sharecast News) - The FTSE 250 was up 0.34% at 19,940.66 at 1523 BST. Endeavour Mining shares were higher as the company said it was "well-positioned" to achieve its full-year production guidance of between 1,315,000 and 1,400,000 ounces after its first half on Wednesday, at an all-in sustaining cost of $880 to $930 per ounce.

The board also declared an interim dividend of $100m, up 43% year-on-year, with the minimum full-year dividend for 2022 increased 33% to $200m.

Hill & Smith shares fell, despite the company reporting a jump in first-half profit and revenue on Wednesday as it took pricing actions to recover input cost inflation.

In the six months to 30 June, pre-tax profit rose 17% to £40.2m on revenue of £349.9m, up 12% on the same period a year earlier. The interim dividend was lifted 8% to 13p a share.

"The performance highlights the resilience of our chosen long-term end markets and the benefits of our agile, decentralised operating model, with growth driven by both pricing actions and robust activity levels in our core infrastructure markets," the company said.

"Trading in the second quarter was particularly strong and provides good momentum as we move into the second half."

Ascential was under the cosh after a downgrade to 'hold' from 'buy' at Berenberg.

Ferrexpo stock fell after the miner reported a 31% decline in first-half revenues to $936m, as a result of lower production and tighter market conditions.

Underlying EBITDA decreased 44% to $486m, reflecting higher costs, primarily driven by lower production volumes, rising global inflation and energy prices.

The group said it remained in a net cash position of $172m, comprising $177m of cash and cash equivalents and "minimal debt" as of 30 June.

Capital investment of $102m was made during the period, with the group continuing to invest in projects delivering near term value.

"12 months ago, we spoke in our interim results announcement of an exciting future ahead for the Ferrexpo business, and whilst this positive growth story remains in the group's plans, today we are focused on supporting the people and communities of Ukraine following more than 150 days of Russia's continued invasion," said non-executive chair Lucio Genovese.

The FTSE 250 precious metals miner said profit after tax for the six months ended 30 June declined 88% to $82m, reflecting the realisation of an impairment of $254m during the period.

FTSE 250 - Risers

888 Holdings (DI) (888) 149.90p 5.71% Carnival (CCL) 709.40p 4.48% ASOS (ASC) 1,046.00p 4.39% Edinburgh Worldwide Inv Trust (EWI) 200.50p 4.10% Countryside Partnerships (CSP) 290.00p 3.57% Bellevue Healthcare Trust (Red) (BBH) 171.80p 3.25% Domino's Pizza Group (DOM) 282.00p 3.22% Darktrace (DARK) 393.70p 3.12% Kainos Group (KNOS) 1,396.00p 3.03% Liontrust Asset Management (LIO) 1,030.00p 3.00%

FTSE 250 - Fallers

XP Power Ltd. (DI) (XPP) 2,250.00p -6.83% Man Group (EMG) 233.20p -5.47% Synthomer (SYNT) 196.90p -4.97% Abrdn Private Equity Opportunities Trust (APEO) 457.00p -4.79% Ascential (ASCL) 229.20p -4.66% Hill & Smith Holdings (HILS) 1,224.00p -3.62% Hilton Food Group (HFG) 1,072.00p -3.07% Morgan Advanced Materials (MGAM) 302.50p -2.58% ICG Enterprise Trust (ICGT) 1,050.00p -2.42% Direct Line Insurance Group (DLG) 201.40p -2.38%