FTSE 250 movers: Northgate rises on return to the black

25th Jun 2014 15:48

Commercial vehicle hire group Northgate turned a corner back into the black after underlying business returned to growth in the UK and Spain, prompting a decent rise in the share price. The company increased the number of vehicles on hire over the year, partly driven by the opening of seven new sites in the UK, but saw top line revenue down 6.2% to £571.5m due to a reduced volume of sales of used vehicles. N+1 Singer lifted the stock to 'buy' from 'hold', while Numis retained its 'buy' rating and raised its target price from 507p to 612p.Imagination Technologies led the downside, coming off the strong rise seen in yesterday's session after its annual figures managed to beat analysts' forecasts despite a fall in profits. Credit Suisse helped push the stock lower after it reiterated its 'underperform' rating. Premier Oil failed to impress with the news it has appointed Finance Director Tony Durant as Chief Executive Officer after a "rigorous and comprehensive" search for candidates. Transport group Stagecoach was also in the red, despite saying its annual results were in line with its expectations. Group turnover rose 4.5% from £2.8bn to £2.9bn, although this came in below some analysts' forecasts, with broker Brewin Dolphin expecting a 5% rise. Reported profit before tax totalled £158.0m, up from £154.3m a year earlier, prompting a hike in the full-year dividend from 8.6p to 9.5p. Balfour Beatty failed to rise despite announcing that its joint venture with Babcock International's wholly-owned Cavendish Nuclear has been contracted for the third phase of the construction of a £160m maintenance facility at the biggest nuclear plant in the UK. FTSE 250 - RisersNMC Health (NMC) 463.30p +3.97%Xaar (XAR) 522.50p +3.26%Northgate (NTG) 510.50p +1.79%BH Global Ltd. USD Shares (BHGU) 11.84 +1.20%Rank Group (RNK) 166.90p +1.15%Alent (ALNT) 348.70p +0.78%Worldwide Healthcare Trust (WWH) 1,311.00p +0.77%Dunelm Group (DNLM) 833.00p +0.73%Fidessa Group (FDSA) 2,180.00p +0.69%Partnership Assurance Group (PA.) 125.75p +0.60%FTSE 250 - FallersImagination Technologies Group (IMG) 238.00p -5.37%Tate & Lyle (TATE) 655.50p -4.31%Ocado Group (OCDO) 351.80p -4.09%Electrocomponents (ECM) 251.40p -3.94%Bwin.party Digital Entertainment (BPTY) 91.70p -3.93%Perform Group (PER) 251.40p -3.86%Aveva Group (AVV) 1,984.00p -3.83%Regus (RGU) 179.90p -3.80%Cineworld Group (CINE) 325.00p -3.50%Premier Oil (PMO) 324.30p -3.45%NR