FTSE 250 movers: RPC Group as annual results impress

4th Jun 2014 13:58

Plastic packaging firm RPC Group was a strong riser after the company beat analysts' forecasts with its annual results as adjusted pre-tax profits rose 12% to £89.5m. Panmure Gordon upped its target price from 728p to 787p and retained a 'buy' recommendation.Office space provider Workspace was also higher after it reported a strong set of annual results, thanks to London's flourishing technology and media sector, with like-for-like (LFL) rent roll up 8.5% in year to £47.4m. The flexible office space provider, catering mostly to technology, media and telecom companies, said LFL rent per square feet rose 8.5% to £15.28 while pre-tax profit surged to £252.5m for the year ended March 31st from £76.4m a year earlier. Occupancy remained stable at 90%.Imagination Technologies was heading north after JPMorgan Chase & Co. kept its 'overweight' rating on the stock. Meanwhile, Credit Suisse cut its rating on Electrocomponents to 'underperform' from 'neutral', and lowered its target price from 275p to 260p, pushing the group firmly into the red. Evraz, Bank of Georgia Holdings, Laird and Debenhams were all lower after going ex-dividend. FTSE 250 - RisersRPC Group (RPC) 649.00p +4.26%Workspace Group (WKP) 606.50p +3.85%Imagination Technologies Group (IMG) 235.20p +3.75%Vedanta Resources (VED) 1,163.00p +3.56%Petra Diamonds Ltd.(DI) (PDL) 163.80p +3.02%Dairy Crest Group (DCG) 471.90p +2.72%Go-Ahead Group (GOG) 2,265.00p +2.26%Fidessa Group (FDSA) 2,373.00p +2.06%Northgate (NTG) 523.50p +2.05%Close Brothers Group (CBG) 1,310.00p +1.95%FTSE 250 - FallersEvraz (EVR) 97.95p -5.36%Perform Group (PER) 265.00p -4.81%Supergroup (SGP) 1,122.00p -4.10%Tullett Prebon (TLPR) 293.40p -3.49%Ophir Energy (OPHR) 251.30p -3.16%Electrocomponents (ECM) 278.00p -2.90%Bank of Georgia Holdings (BGEO) 2,442.00p -2.71%Laird (LRD) 294.40p -2.48%Debenhams (DEB) 75.20p -2.21%Smith (DS) (SMDS) 315.90p -2.11%NR