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FTSE 250 movers: OSB tanks; Playtech rises again
(Sharecast News) - FTSE 250 (MCX) 21,098.31 0.70% Shares in specialist lender OSB Group were sliding on Thursday morning despite a robust set of first-half results, as it cut its net interest guidance for the full financial year.
The FTSE 250 company reported significant growth in both underlying and statutory profits, driven by favourable financial conditions and strategic discipline.
It now saw its full-year net interest margin coming in between 230 and 240 basis points, however, down from its previous expectations for around 250 basis points, amid increased mortgage market competition.
Its underlying profit before tax surged to £249.9m, up from £116.6m in the same period in 2023.
Statutory profit before tax also saw a substantial increase to £241.3m, compared to £76.7m in the first half of last year.
The improvement was put down to the non-recurrence of an adverse effective interest rate adjustment from the prior year, although it was partially offset by narrower margins on mortgages and deposits, as well as a shift from an impairment loss to an impairment credit.
Playtech surged again after confirming on Wednesday that it was in talks with Flutter Entertainment about the possible sale of its Italian business, Snaitech.
Market Movers
FTSE 250 - Risers
Foresight Group Holdings Limited NPV (FSG) 534.00p 7.01% Playtech (PTEC) 649.00p 6.05% Indivior (INDV) 1,006.00p 5.95% Bank of Georgia Group (BGEO) 4,280.00p 4.77% Ashmore Group (ASHM) 174.90p 3.98% Patria Private Equity Trust (PPET) 562.00p 3.12% Auction Technology Group (ATG) 432.50p 2.98% C&C Group (CDI) (CCR) 156.00p 2.90% Watches of Switzerland Group (WOSG) 378.80p 2.77% Energean (ENOG) 944.50p 2.72%
FTSE 250 - Fallers
OSB Group (OSB) 397.40p -17.93% Wizz Air Holdings (WIZZ) 1,248.00p -4.88% NextEnergy Solar Fund Limited Red (NESF) 80.60p -2.89% Abrdn (ABDN) 152.25p -2.47% Harbour Energy (HBR) 284.60p -2.06% Ocado Group (OCDO) 371.10p -1.70% Tritax Eurobox (GBP) (EBOX) 67.10p -1.47% Diversified Energy Company (DEC) 1,053.00p -1.40% The Renewables Infrastructure Group Limited (TRIG) 101.00p -1.37% Target Healthcare Reit Ltd (THRL) 82.30p -1.32%
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