FTSE 250 movers: Rightmove leads the way

26th Feb 2010 12:46

Cost-cutting and an increase in average online spending helped property website Rightmove improve underlying profit in 2009, but income fell 1% at the pre-tax level. The group is currently the best FTSE 250 performer, up more than 8%.Profit before tax fell to £37.8m in the 12 months to 31 December from £38.2m the year before on revenue down 6% to £69.4m. Underlying operating profit rose 2% to £41.9m.Underlying profits at laundry and workwear group Davis Services held steady in 2009 against a 'very challenging economic background'. Profit before tax edged up to £61.7m in 2009 from £60.4m in 2008 on revenue that grew to £970.9m from £954.9m the year before. The 2% increase in revenue turns into a 3% decline using constant exchange rates. Adjusted profit before tax, which excludes exceptional items and amortisation of customer contracts, improved to £91.7m from £91.3m.Colt Telecom increased profits markedly in 2009, but the telecom operator is the worst performer after it said it is still cautious about the pace and timing of macro economic recovery. Pre-tax profit rose 32% in 2009 to €94.7m from €71.9m in 2008 and jumped 55% to €85m before exceptional items due to higher EBITDA, exchange gains, and a drop in net finance costs. FTSE 250 - RisersRightmove (RMV) 646.50p +8.11%Melrose Resources (MRS) 315.00p +4.97%Misys (MSY) 224.50p +4.52%Mondi (MNDI) 379.50p +3.86%Edinburgh Dragon Trust (EFM) 190.00p +3.83%DS Smith (SMDS) 117.00p +3.63%Computacenter (CCC) 295.70p +3.46%Lamprell (LAM) 242.70p +3.41%Petropavlovsk (POG) 942.00p +3.12%Davis Service Group (DVSG) 409.80p +3.02%FTSE 250 - FallersCOLT Telecom Group S.A. (COLT) 128.80p -5.99%Regus (RGU) 82.75p -4.28%Dunelm Group (DNLM) 377.10p -2.73%Galiform (GFRM) 81.25p -2.11%RPS Group (RPS) 181.70p -2.05%PayPoint (PAY) 371.90p -1.87%Travis Perkins (TPK) 661.00p -1.78%Babcock International Group (BAB) 522.50p -1.42%Ladbrokes (LAD) 146.40p -1.35%Morgan Crucible (MGCR) 173.40p -1.20%