Source: Sharecast
Bulmers cider maker C&C said it expected a limited impact from US tariffs as it held annual guidance and reported a jump in profits for 2024/25.
Operating profit surged 28.5% to €77m for the 12 months to February with net revenue up 13% to €1.66bn. Pre-tax profit rose 17% to €55.9m.
“The group has progressed on a number of fronts over the last year, despite the ongoing challenging macro and market backdrop ,” said chief executive Roger White.
“Our two leading brands, Tennent’s and Bulmers gained market share and we see future growth opportunities for both. Our premium brand performance is encouraging, benefitting from ongoing consumer appeal for premium beer and cider which is driving growth in this segment.”
IT infrastructure group Softcat rallied as it raised its guidance for full-year profit growth after a stronger-than-expected third-quarter performance.
Greggs was knocked lower by a downgrade to ‘hold’ from ‘buy’ at Shore Capital, which said that as investment reaches its peak, it sees little to stimulate the shares.
Defence specialist Chemring gained after the EU approved a €150bn procurement fund to boost security amid tensions with Russia.
Market Movers
FTSE 250 - Risers
PayPoint (PAY) 725.00p 6.15%
Bloomsbury Publishing (BMY) 525.00p 5.95%
Chemring Group (CHG) 469.00p 3.88%
Bytes Technology Group (BYIT) 515.00p 3.62%
Harbour Energy (HBR) 183.40p 3.56%
Indivior (INDV) 888.00p 3.20%
International Workplace Group (IWG) 188.90p 3.17%
THG (THG) 25.00p 3.05%
C&C Group (CDI) (CCR) 159.00p 2.71%
Marshalls (MSLH) 288.50p 2.67%
FTSE 250 - Fallers
Oxford Nanopore Technologies (ONT) 128.20p -2.81%
Greggs (GRG) 2,062.00p -2.64%
Dr. Martens (DOCS) 54.70p -2.41%
Ferrexpo (FXPO) 57.40p -2.21%
Close Brothers Group (CBG) 337.20p -2.15%
Pagegroup (PAGE) 266.20p -1.92%
Playtech (PTEC) 316.50p -1.86%
Victrex plc (VCT) 784.00p -1.75%
Mobico Group (MCG) 28.72p -1.64%
CMC Markets (CMCX) 278.00p -1.42%