FTSE 250 movers: Centamin shines, Morgan Sindall slips

Thu 04 Aug 2022

LONDON (SHARECAST) - (Sharecast News) - The FTSE 250 was up 0.60% at 20,139.57 at 1449 BST.
Centamin shares were up as the miner reported first half revenue of $382m in its interim report, up 4% year-on-year, from gold sales of 203,587 ounces at an average realised gold price of $1,872 per ounce.

The FTSE 250 company said its cash cost of production in the six months ended 30 June was $931 per ounce produced, up 15%, and its all-in sustaining costs were $1,446 per ounce sold, 22% higher than the same period last year.

EBITDA fell 19% to $153m, with a 40% EBITDA margin, while net profit after tax attributable to shareholders up 42% to $85m, for a 42% improvement in basic earnings per share to 7.35 US cents.

Capital expenditure in the period rose 77% to $139m, including $6m of non-cash IFRS 16 additions.

ConvaTec gained after reported "strong" revenue growth in its first half on Thursday, up 3.6% on a reported basis to $1.05bn, 8% on a constant currency basis, and 6.4% on an organic basis, with "positive performances" across all of its divisions.

The FTSE 250 company said reported operating profit was 35.7% lower year-on-year for the six months ended 30 June at $87m, which was primarily down to hospital care exit.

Adjusted operating profit was stable at $204m, and up 1.1% on a constant currency basis, despite significant cost of goods sold inflation of 7%, and investments in sales and marketing and research and development operating expenses of 15% on a constant currency basis.

The firm's adjusted operating profit margin was 19.6%, down from 20.3% year-on-year, with price mix, productivity improvement, a reduction in general and administrative expenses and a currency tailwind more than offset by inflation and the operating expense investments.

Building contractor Morgan Sindall fell slightly as it said it expected annual results to be slightly ahead of expectations after posting a rise in half-year profits, but warned that higher costs, inflation and delayed projects were presenting a more challenging market.

FTSE 250 - Risers

TP Icap Group (TCAP) 130.30p 8.67%
Convatec Group (CTEC) 250.00p 8.60%
888 Holdings (DI) (888) 160.20p 7.37%
Ascential (ASCL) 246.40p 5.66%
Centamin (DI) (CEY) 88.94p 5.45%
TUI AG Reg Shs (DI) (TUI) 143.15p 5.10%
Softcat (SCT) 1,432.00p 4.45%
Kainos Group (KNOS) 1,460.00p 4.29%
Bodycote (BOY) 611.00p 3.47%
Pantheon International (PIN) 272.00p 3.23%

FTSE 250 - Fallers

Abrdn Private Equity Opportunities Trust (APEO) 440.00p -4.97%
Synthomer (SYNT) 185.60p -3.63%
Coats Group (COA) 69.30p -3.35%
Currys (CURY) 64.45p -3.08%
Babcock International Group (BAB) 343.80p -2.77%
Balanced Commercial Property Trust Limited (BCPT) 114.80p -2.55%
BH Macro Ltd. GBP Shares (BHMG) 4,355.00p -2.35%
QinetiQ Group (QQ.) 373.60p -2.25%
Just Group (JUST) 70.90p -2.21%
Chrysalis Investments Limited NPV (CHRY) 94.70p -2.17%
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