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FTSE 250 movers: WoS ticks along; Balfour Beatty slips
(Sharecast News) - FTSE 250 (MCX) 21,028.06 0.11%
Watches of Switzerland surged as it reported a jump in first-half revenue amid solid US demand, but a dip in profit.
In the 26 weeks to 27 October, group revenue rose 4% to £785m, with an improvement in trading in the second quarter.
US revenue grew 11% to £355m. In the UK and Europe, however, revenue declined 1% on the previous year to £430m.
Adjusted earnings before interest, tax, depreciation and amortisation fell 7% to £87m, while statutory pre-tax profit was down 39% to £41m.
Wood Group advanced as it secured three "major" agreements with BP to provide engineering and project delivery services for their capital projects worldwide.
Future surged after well-received full-year results.
Infrastructure specialist Balfour Beatty reported a robust performance in a trading update on Thursday, with earnings growth expected and plans for further share buybacks in 2025.
The FTSE 250 company said its order book was expected to grow by over 5% this year, surpassing £16.5bn, driven by strong demand in UK energy and US buildings markets.
Revenue was projected to rise about 2% year-on-year, reaching around £9.8bn, supported by growth in support services and the Gammon joint venture in Asia.
Underlying profit from operations (PFO) from earnings-based businesses was set to exceed 2023's £236m, underpinned by a strong performance in support services.
FTSE 250 - Risers
Watches of Switzerland Group (WOSG) 577.00p 15.63% Future (FUTR) 1,095.00p 11.73% PPHE Hotel Group Ltd (PPH) 1,325.00p 9.05% Wood Group (John) (WG.) 67.40p 4.17% Bakkavor Group (BAKK) 150.00p 3.45% Just Group (JUST) 160.60p 3.35% NCC Group (NCC) 162.20p 2.92% RIT Capital Partners (RCP) 1,998.00p 2.78% Close Brothers Group (CBG) 228.20p 2.70% Zigup (ZIG) 341.00p 2.25%
FTSE 250 - Fallers
Genus (GNS) 1,652.00p -4.95% Pets at Home Group (PETS) 226.20p -4.56% PureTech Health (PRTC) 162.40p -3.56% Energean (ENOG) 988.00p -3.23% Discoverie Group (DSCV) 707.00p -3.15% PayPoint (PAY) 829.00p -3.04% Victrex plc (VCT) 1,076.00p -2.54% Harbour Energy (HBR) 253.80p -2.53% Balfour Beatty (BBY) 441.40p -2.43% Travis Perkins (TPK) 748.50p -2.28%
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