FTSE 250 movers: TBC takes off; Ocado slips again

(Sharecast News) - FTSE 250 (MCX) 20,911.62 -0.04%

TBC Bank impressed on Wednesday by reporting record revenues and a big jump in profits in the fourth quarter, with the UK-listed Georgian bank confident of hitting its strategic targets for 2025.

Total operating income was up 22.6% year-on-year at an all-time high of 784m Georgian lari (£226m) in the final three months of 2024, with net interest income rising 14.9% to GEL508m, net fee and commission income up 34.4% at GEL148m, and other non-interest income was 46.4% higher at GEL128m.

Results were driven by the payments business in Georgia and strong growth in Uzbekistan, where TBC scaled up during the year with total users rising 37% to 18m and its loan book more than doubling.

Adjusted net profits for the fourth quarter were up 18.2% at GEL344m.

For 2024 as a whole, total operating income was 19.4% higher at GEL2.83bn, while adjusted net profit rose 15.6% to a record GEL1.32bn.

TBC declared a final dividend of GEL5.55, taking the full-year payout to GEL8.10, up 12% on 2023.

"As a team, we achieved a great deal in 2024, but as always there remains much to do, and we look forward to 2025 being another year of further scaling up our business in Uzbekistan and continuing to deliver strong and profitable growth in Georgia. I am confident we are fully on track to meet the mid-term targets we have set for 2025," said chief executive Vakhtang Butskhrikidze.

Indivior announced a delay in the US Food and Drug Administration's (FDA) final review of proposed label changes for its 'Sublocade', or buprenorphine extended-release, injection on Wednesday.

The company was expecting a decision by 7 February, as per the Prescription Drug User Fee Act (PDUFA) timeline.

It said on Wednesday that the FDA informed the company on 11 February that there were no outstanding issues following acceptance of the proposed label, which includes a rapid initiation protocol and alternative injection sites.

However, the final review process has been delayed.

The company did not provide a revised timeline for approval but said it would issue further updates as appropriate.

Ocado shares fell again, down 5%.

Market Movers

FTSE 250 - Risers

TBC Bank Group (TBCG) 4,100.00p 10.96% Lion Finance Group (BGEO) 5,320.00p 6.83% Indivior (INDV) 804.50p 5.16% Baltic Classifieds Group (BCG) 360.00p 4.50% Bluefield Solar Income Fund Limited (BSIF) 85.20p 3.78% Ithaca Energy (ITH) 135.70p 3.43% Foresight Solar Fund Limited (FSFL) 78.20p 3.17% Moonpig Group (MOON) 222.50p 2.30% W.A.G Payment Solutions (WPS) 68.80p 2.08% Genus (GNS) 1,842.00p 1.88%

FTSE 250 - Fallers

Ocado Group (OCDO) 310.90p -5.07% Raspberry PI Holdings (RPI) 688.25p -3.81% Travis Perkins (TPK) 682.50p -2.99% OSB Group (OSB) 413.00p -2.46% Endeavour Mining (EDV) 1,722.00p -2.44% Spectris (SXS) 2,998.00p -2.28% Zigup (ZIG) 306.00p -1.92% Oxford Instruments (OXIG) 1,942.00p -1.92% Drax Group (DRX) 644.50p -1.90% GCP Infrastructure Investments Ltd (GCP) 76.00p -1.81%