FTSE 250 movers: Hays drops after cutting dividend

30th Aug 2012 15:52

Heading south was recruitment group Hays after saying that it expects the overall economic backdrop to remain "difficult" in 2013. The firm cuts its full-year dividend by more than a half due to the increasing global economic uncertainty, which slowed the pace of the profit growth. Shares in Cape, the provider of non-mechanical support services, were heading in the opposite direction despite the group reporting a 65% drop in adjusted pre-tax profits in the first half. Nevertheless, revenues improved by 11% and the forward order book increased by £90m. ?? "I am pleased to say that, having carried out an initial review of all of our operations, I continue to believe that the core of the business is fundamentally strong," said Chief Executive Joe Oatley. ?? Engineering and construction group Kentz was also up after it saw profits jump in the first half as overall demand remained strong and its backlog of work grew. Profit before tax increased by 35.8% to $51.2m on revenue that was up 9.4% on 2011 to $703.7m. FTSE 250 - RisersCape (CIU) 228.40p +18.59%Bwin.party Digital Entertainment (BPTY) 98.45p +5.35%Kentz Corporation Ltd. (KENZ) 400.00p +4.99%Redrow (RDW) 150.80p +3.64%Dixons Retail (DXNS) 17.45p +2.65%Dialight (DIA) 1,164.00p +2.11%Daejan Holdings (DJAN) 3,011.00p +1.35%Cable & Wireless Communications (CWC) 34.05p +1.19%IP Group (IPO) 127.50p +1.19%London Stock Exchange Group (LSE) 984.50p +1.13%FTSE 250 - FallersFerrexpo (FXPO) 155.20p -10.08%Bumi (BUMI) 290.00p -9.74%Hays (HAS) 69.75p -9.00%Gem Diamonds Ltd. (DI) (GEMD) 174.10p -5.12%Aquarius Platinum Ltd. (AQP) 37.37p -4.91%Petropavlovsk (POG) 353.00p -4.88%Melrose (MRO) 233.10p -4.31%Cairn Energy (CNE) 273.30p -3.84%Talvivaara Mining Company (TALV) 125.30p -3.62%Fenner (FENR) 352.60p -3.48%NR