Powerful revenue growth from its generic drugs and solid growth elsewhere helped Hikma Pharmaceutical post impressive results for 2013.
Group revenue increased 23% to $1,365m and a 30% strengthening of operating margins from improvements in the Generics and Injectables businesses helped group profits soar 112% to $212m. Basic earnings per share similarly leapt 111% to 107.6c per share.
Petra Diamonds was also a strong riser. The group yesterday received a reiteration of its 'buy' rating from Citigroup, and its 'outperform' rating from RBC Capital.
esure Group was also higher after Deutsche Bank today moved its target price from 300p to 313p and kept a 'buy' recommendation, while Citi shifted its target price from 291p to 294p, retaining a 'buy' recommendation.
Meanwhile, online grocer Ocado fell after revealing that "while we are encouraged by our current trading, the retail environment remains both challenging and competitive". It also reported a slight decline in the average size of customer orders to £117.53 from £117.99.
Shore Capital's Clive Black said: "We remain of the view that Ocado is a distinctive business model. More fundamentally, we remain of the view that Ocado is a distinctive business model in that it doesn't work when it comes to earnings.
"The present share price remains anomalous to our minds and the read across to other highly rated online retailers is spurious in our view. No doubt Ocado is talking to other retailers about being an online management consultant but that is very different from being an online proprietary retailer."
Kenmare Resources was in the red after revealing it had swung to a loss in 2013 on the back of falling commodity prices, although it did give an upbeat outlook after completing its investment programme in the Moma Titanium Minerals Mine in Mozambique. The company, which mines titanium minerals ilmenite and rutile, as well as the zirconium silicate mineral, zircon, reported a loss before tax of $42.1m last year, compared with a profit of $52.8m in 2012, on revenues that fell to $137.9m from $234.6m.
Serco Group was lower on readacross from G4S, which posted annual profits and earnings below expectations.
FTSE 250 - Risers
Hikma Pharmaceuticals (HIK) 1,525.00p +3.53%
Petra Diamonds Ltd.(DI) (PDL) 155.00p +1.71%
Intermediate Capital Group (ICP) 436.30p +1.70%
Ted Baker (TED) 2,176.00p +1.35%
Interserve (IRV) 643.00p +1.26%
esure Group (ESUR) 267.90p +1.25%
Provident Financial (PFG) 1,919.00p +1.21%
Hiscox Ltd (HSX) 670.00p +1.13%
Taylor Wimpey (TW.) 117.00p +1.12%
Restaurant Group (RTN) 690.00p +1.10%
FTSE 250 - Fallers
Ocado Group (OCDO) 534.50p -6.56%
Kenmare Resources (KMR) 13.62p -6.07%
Essar Energy (ESSR) 66.15p -5.03%
ICAP (IAP) 412.30p -4.41%
Direct Line Insurance Group (DLG) 255.90p -4.23%
Spirent Communications (SPT) 100.80p -4.09%
RPS Group (RPS) 328.70p -3.58%
Oxford Instruments (OXIG) 1,343.00p -3.38%
Devro (DVO) 255.10p -3.37%
Serco Group (SRP) 447.60p -3.20%