FTSE 250 movers: Premier Farnell drops after warning on operating margin

14th Nov 2014 16:05

Shares in technology products distributor Premier Farnell took a hit after the group warned that its full-year operating margin would be "slightly" below prior year levels. The group experienced softer market conditions in Asia and Europe, which dragged the gross margin 0.5 percentage points lower. It expects the gross margin to increase in the fourth quarter, but said recent trends would knock the operating margin below last year's figure of 9.6%.Restaurant Group dropped into the red after reporting a disappointing trading update, saying "sales have shown lower growth since the end of August and we are seeing some cost pressures".Rotork's shares slumped after the actuator manufacturing and flow-control company said revenues slipped in the third quarter due to the timing of deliveries. Turnover declined by 1% and were down 0.5% on an organic constant currency (OCC) basis. The decline came after OCC revenues had risen by 4.4% in the first half.Genus declined despite reporting a performance in-line with expectations for the period since 1 July, with an increase seen across volumes, revenues and adjusted profit before tax. However, growth at the animal genetics company in actual currency terms came in at a lower rate than in constant currency.Meanwhile, Infinis Energy recovered from Thursday's half-year report, which revealed lower wind speeds had resulted in a decline in revenue.Dairy Crest moved higher after Credit Suisse lifted the the company to 'neutral' from 'underperform' and raised its target price from 390p to 485p.FTSE 250 - RisersInfinis Energy (INFI) 226.90p +4.47%Oxford Instruments (OXIG) 1,134.00p +3.75%Cairn Energy (CNE) 187.10p +3.54%Dairy Crest Group (DCG) 498.50p +3.42%Kaz Minerals (KAZ) 273.60p +3.25%Afren (AFR) 74.60p +3.04%Thomas Cook Group (TCG) 133.60p +3.01%Tullett Prebon (TLPR) 281.90p +2.85%Essentra (ESNT) 768.00p +2.67%Amec Foster Wheeler (AMFW) 1,083.00p +2.36%FTSE 250 - FallersPremier Farnell (PFL) 162.70p -9.56%AO World (AO.) 205.20p -4.34%Restaurant Group (RTN) 655.00p -4.31%Just Retirement Group (JRG) 127.70p -3.84%Centamin (DI) (CEY) 49.68p -3.81%Rotork (ROR) 2,409.00p -3.64%Supergroup (SGP) 823.00p -2.72%Spire Healthcare Group (SPI) 316.60p -2.46%Polymetal International (POLY) 520.00p -2.44%Lonmin (LMI) 177.00p -2.26%