FTSE 250 movers: Telecity jumps after strong Q1, Serco slides

29th Apr 2014 15:46

Telecity rose to the top spot after posting a strong first-quarter trading update. The Europe-focused data centre provider said that organic currency-neutral revenue growth was 9.4 per cent for the period from January 1st to date, compared with 6.8 per cent in 2013. Broker Numis maintained a 'buy' rating on the stock, while Investec said: "The hints over accelerated cash return are now obvious and this, together with the re-acceleration in growth, should confirm Telecity as a double-digit TSR stock for the mid-term." First quarter revenue dropped in line with expectations at UBM, the marketing and communications services group, but shares put in a decent performance after it reported strong bookings. UK bus and train operator Stagecoach climbed after it said overall profitability at the group has remained satisfactory and it remains confident of meeting adjusted earnings per share for the year ending April 30th 2014. Like-for-like (LFL) revenue growth at its main UK regional bus operations rose 4.8% for the forty eight weeks ended March 30th as both passenger volumes and revenue grew year-on-year. LFL passenger volume growth was 1.5%. Meanwhile, support services firm Serco sank after it issued a fresh profit warning and indicated it may have to raise capital through a share placing just days before new Chief Executive Rupert Soames takes up his role. The embattled outsourcing firm, which operates prisons and welfare to work programmes for the UK government, issued a statement after the London Stock Exchange close last night, saying that trading has been more challenging than expected. Al Noor Hospitals, which operates medical facilities in Abu Dhabi, retreated from yesterday's surge which came after it said it traded in line with expectations in the first quarter with revenues rising by an impressive 24.7%.FTSE 250 - RisersTelecity Group (TCY) 723.50p +14.12%Dechra Pharmaceuticals (DPH) 700.00p +4.63%Afren (AFR) 153.20p +4.22%Ocado Group (OCDO) 330.40p +4.16%Ophir Energy (OPHR) 251.20p +4.06%Aveva Group (AVV) 1,960.00p +3.43%UBM (UBM) 674.50p +3.29%Genus (GNS) 1,057.00p +3.02%Diploma (DPLM) 681.00p +2.71%Cable & Wireless Communications (CWC) 52.85p +2.62%FTSE 250 - FallersSerco Group (SRP) 333.00p -17.68%Inmarsat (ISAT) 731.50p -4.25%Telecom Plus (TEP) 1,509.00p -2.96%Heritage Oil (HOIL) 255.50p -2.85%Xaar (XAR) 809.50p -2.70%AL Noor Hospitals Group (ANH) 1,007.00p -2.14%Drax Group (DRX) 658.00p -1.79%UK Commercial Property Trust (UKCM) 81.20p -1.69%Domino's Pizza Group (DOM) 511.50p -1.63%Daejan Holdings (DJAN) 4,810.00p -1.62%NR