Mining group Kazakhmys saw its share price rocket today after the group said it was considering separating the Zhezkazgan and Central regions, with a view to a potential disposal. The group's former Chairman, Vladimir Kim, has indicated he would consider creating a personally-owned vehicle to hold the assets, the company revealed. The news came as the group swung to a loss for the 2013 full-year, as revenues declined and operating costs increased in what the group described as a period of "significant change".
Hedge fund manager Man Group was a strong riser after revealing its annual adjusted pre-tax profit lifted 8% to $297m as net outflows dropped 51% to $3.6bn, with fourth quarter net inflows of $700m. The group said it was on track to save a total of $270m by the end of 2015 and proposed a final dividend of 5.3 cents per share, making the total dividend for the year 7.9 cents. It also plans to buy back $115m of shares.
Full-year pre-tax profits at engineer Bodycote rose 9% to £98.4m, assisted by acquisitions made in 2012, pushing the stock firmly into positive territory. Revenues were up 5% to £619.6m, although the company admitted that this had been helped by a positive contribution from foreign exchange
rates worth £14m and a further £32.4m from the acquisitions.
RPS Group was in positive territory after it reported a 'robust' performance in 2013, prompting a 15% increase in the dividend for investors in the oil and gas consultancy. The company also gave an upbeat outlook for the year ahead, saying it was well-positioned in markets of importance to the global economy.
Barratt Developments was also a strong riser after announcing it had completed the highest level of home deals in five years as it posted a 73% rise in operating profit to £139.5m. The house-builder said completions in the six months to December 31st rose 19% to 6,195 while revenue lifted 33% to £1.3bn.
Meanwhile, International Personal Finances shares
were retreating from yesterday's strong gains, which saw it jump after its profit came in slightly ahead of expectations. Profit before tax leapt 24%, prompting a 20% increase to the dividend.
National Express was in the red after posting a fall in full-year profits, which it blamed on the loss of a UK rail franchise. The bus and train company said group normalised pre-tax profit in the year to December 31st fell 12.4% to £143.7m as it handed back the National Express East Anglia franchise in 2012.
FTSE 250 - Risers
Kazakhmys (KAZ) 285.90p +27.98%
Man Group (EMG) 94.95p +12.90%
Bodycote (BOY) 745.00p +7.04%
CSR (CSR) 763.00p +6.49%
Jupiter Fund Management (JUP) 426.50p +6.09%
RPS Group (RPS) 329.50p +4.21%
Barratt Developments (BDEV) 427.50p +3.81%
African Barrick Gold (ABG) 288.70p +3.81%
Carphone Warehouse Group (CPW) 341.10p +2.93%
Centamin (DI) (CEY) 55.05p +2.61%
FTSE 250 - Fallers
Ocado Group (OCDO) 575.00p -6.81%
International Personal Finance (IPF) 535.00p -4.04%
IP Group (IPO) 216.60p -3.69%
Imagination Technologies Group (IMG) 181.00p -3.57%
Evraz (EVR) 70.40p -3.36%
Alent (ALNT) 305.10p -2.74%
Senior (SNR) 285.10p -2.70%
Micro Focus International (MCRO) 779.00p -2.62%
Synthomer (SYNT) 265.50p -2.53%
Essar Energy (ESSR) 67.60p -2.52%