FTSE 250 movers: Inchcape rises on strong annual results

11th Mar 2014 15:37

Inchcape delivered record annual results as the car dealership enjoyed buoyant demand for luxury vehicles. The company reported a pre-exceptional pre-tax profit of £274.6m for the year through December 2013, up 11.2% on the prior year, as sales jumped 7.7% to £6.5bn. Adjusted earnings per share grew 11.3% to 43.5p, marking the fourth consecutive year of double-digit growth. Senior continued to rise after the manufacturer yesterday confirmed that it has entered into an agreement to buy Malaysian based UPECA Technologies for £75.5m. The acquisition of UPECA Technologies, which provides manufacturing services for high precision metal machining, is expected to complete towards the end of March. Meanwhile, African Barrick Gold shares fell sharply after parent company Barrick Gold Corporation sold 41m shares, equal to 10% of the issued share capital, as it continues its "ongoing portfolio optimisation strategy". Fenner was in the red after Investec lowered its target price from 380p to 375p and retained its 'sell' recommendation.IT services group Computacenter fell despite recording its fourth successive year of revenue growth, as the group revealed it did not expect a significant improvement in Services revenues in Germany "until the second half of the year at the earliest". FTSE 250 - RisersInchcape (INCH) 641.00p +4.23%Senior (SNR) 300.30p +4.13%Ocado Group (OCDO) 567.00p +3.37%Keller Group (KLR) 1,068.00p +3.19%Devro (DVO) 262.20p +2.99%RPC Group (RPC) 630.50p +2.52%Carphone Warehouse Group (CPW) 336.70p +2.50%PayPoint (PAY) 1,168.00p +2.46%Pace (PIC) 469.50p +2.38%National Express Group (NEX) 302.30p +2.37%FTSE 250 - FallersAfrican Barrick Gold (ABG) 257.80p -16.33%Kenmare Resources (KMR) 14.50p -5.04%Evraz (EVR) 57.50p -4.17%COLT Group SA (COLT) 139.40p -3.80%Fenner (FENR) 429.40p -3.77%Perform Group (PER) 271.00p -3.25%Berkeley Group Holdings (The) (BKG) 2,555.00p -3.22%Computacenter (CCC) 696.00p -3.13%Barratt Developments (BDEV) 419.60p -2.49%Petra Diamonds Ltd.(DI) (PDL) 151.30p -2.39%NR