FTSE 250 movers: Perform rises on turnaround hopes

4th Mar 2014 15:04

Sports media group Perform surged on turnaround hopes following a seven per cent fall in earnings per share in 2013. The company said the board was taking the opportunity to address the large cost base and had 'already put in place a series of plans and initiatives'. Pace, which develops technology for pay TV and broadband service providers, was also rising strongly after it posted a 2.7% rise in annual revenue to $2.46bn. The company achieved adjusted earnings before interest, tax and amortisation of $194.6m in the year through December 2013, up 22.5% on 2012, driven by demand for pay TV hardware.Bank of Georgia rebounded from yesteday's sharp decline, which saw it fall on the back of its exposure to the Ukraine and Russian regions. British manufacturing company Rotork climbed after it reported record full-year revenue and profit as it acquired Seoul, South Korea-based valve and accessories manufacturer Young Tech. In a separate statement, the engineering group said pre-tax profit increased 11.1% to £138m in 2013, while revenue for the year rose 13% to £578.4m. Meanwhile, sausage skins maker Devro fell sharply after posting broadly flat revenue for the full year, reflecting weak demand. Revenue in the year to December 31st 2013 came to £242.7m, up 1% on the previous year. Operating profit before exceptional items fell 1% to £42.1m. Panmure Gordon also downgraded its rating for the group from 'buy' to 'hold'.African Barrick Gold tracked metal prices back into the red after rising strongly yesterday, when a reduction in risk appetite pushed investors towards safe-haven assets.Insurance firm Amlin retreated from yesterday's gains, which came after it achieved a 23.3% rise in annual pre-tax profit to £325.7m, supported by growth in premiums and lower catastrophe activity.FTSE 250 - RisersPerform Group (PER) 266.70p +14.71%Bank of Georgia Holdings (BGEO) 2,271.00p +10.78%Pace (PIC) 439.00p +8.77%Entertainment One Limited (ETO) 362.50p +8.21%CSR (CSR) 801.00p +6.87%Spirent Communications (SPT) 109.30p +6.84%Rotork (ROR) 2,819.00p +6.70%Ferrexpo (FXPO) 150.00p +6.08%Ocado Group (OCDO) 579.50p +5.46%Redrow (RDW) 336.70p +4.92%FTSE 250 - FallersDevro (DVO) 277.70p -8.95%African Barrick Gold (ABG) 289.50p -1.96%Amlin (AML) 453.80p -1.86%Xaar (XAR) 1,031.00p -1.62%Henderson Group (HGG) 238.20p -1.37%Regus (RGU) 227.10p -1.30%Electra Private Equity (ELTA) 2,754.00p -0.76%Bwin.party Digital Entertainment (BPTY) 127.00p -0.70%Daejan Holdings (DJAN) 4,986.00p -0.58%Tullett Prebon (TLPR) 326.20p -0.40%NR