FTSE 250 movers: Wizz Air soars; Crest Nicholson slides

(Sharecast News) - FTSE 250 (MCX) 20,649.87 -0.30%

UK housebuilder Crest Nicholson said it has seen a slight improvement in its sales performance since the start of the new year financial year, though tough conditions and one-off fire-safety charge over the 12 months to 31 October saw it swing to a substantial annual loss.

"Recent weeks have shown an ongoing incremental improvement in sales performance, supported by encouraging early indicators such as increased website visits and follow-up appointments," Crest Nicholson said.

"However, the slower than anticipated pace of interest rate reductions continues to weigh on the ability to convert indications of interest and is tempering the housing market recovery."

Annual results from the builder on Tuesday showed a 53.3% drop in adjusted pre-tax profit in the year to 31 October to £22.4m. A 7.3% decline in housing completions during the year resulted in a 6% drop in adjusted revenue to £618.2m, while the operating profit margin fell to 5.1% from 7.7%.

On a statutory basis, however, which includes exceptional items like a £127.3m net combustible materials charge - costs associated with fire safety defects - the company recorded a pre-tax loss of £143.7m, compared with a profit of £23.1m the year earlier.

Looking ahead, Crest Nicholson pointed to a pre-tax profit of between £28m and £38m for the current financial year.

"Early indicators, including increased customer interest and enquiries and sales rates in January, are encouraging, though we remain mindful of macroeconomic uncertainty and the pace of interest rate reductions and the impact this may have on 2025 profitability which remains below long term averages," said chief executive Martyn Clark.

Transport company Mobico has announced that its chair of two years Helen Weir has decided to step down for personal reasons.

Mobico, formerly known as National Express group, said on Tuesday that the non-executive chair, who has been in the position since January 2023, has decided that she will not stand for re-election at the AGM in June.

A search for her successor will be led by the Mobico's nominations committee and an external search firm.

Low-cost carrier Wizz Air said on Tuesday that it had carried 4.93m passengers in January, a 4% increase year-on-year.

Wizz Air said seat capacity was down 0.8% year-on-year, resulting in a load factor of 86%, up four percentage points on last year's load factor of 82.0%.

The London-listed firm also highlighted that a "positive yield environment and booking profile" had continued into January, in line with commentary made in the airline's Q3 results.

Market Movers

FTSE 250 - Risers

Wizz Air Holdings (WIZZ) 1,292.00p 4.36% Ferrexpo (FXPO) 107.80p 4.05% Raspberry PI Holdings (RPI) 753.25p 2.90% Helios Towers (HTWS) 97.60p 2.20% Hochschild Mining (HOC) 179.00p 2.05% BH Macro Ltd. GBP Shares (BHMG) 401.00p 2.04% Dr. Martens (DOCS) 72.20p 1.83% Future (FUTR) 922.00p 1.82% Dunelm Group (DNLM) 978.50p 1.77% Victrex plc (VCT) 993.00p 1.64%

FTSE 250 - Fallers

Crest Nicholson Holdings (CRST) 163.10p -6.85% Pennon Group (PNN) 448.20p -3.53% Bakkavor Group (BAKK) 131.00p -2.96% Aston Martin Lagonda Global Holdings (AML) 100.80p -2.80% Mobico Group (MCG) 69.95p -2.58% HICL Infrastructure (HICL) 111.60p -2.45% Genus (GNS) 1,858.00p -2.11% Foresight Environmental Infrastructure Limited (FGEN) 65.90p -2.08% Mitchells & Butlers (MAB) 223.00p -1.98% Chemring Group (CHG) 315.00p -1.87%