Source: Sharecast
Shares in Ocado slumped on Thursday as an upbeat outlook on cash flow and narrower losses failed to reassure investors.
Pre-tax losses at the online grocer and warehouse technology company came in at £374.3m from £387m a year earlier. Group revenue rose to 14% to £3.2bn and Ocado pledged to be cash flow positive by fiscal 2026.
Retail sales rose 14% to £2.68bn and 18.1% at technology solutions to £496.5m. Shares in the company were down more than 17% in London.
Jupiter Fund Management reported a decline in many key metrics for the full-year, leading management to roughly halve the payout to their shareholders.
The emerging markets specialist reported a 13% drop in assets under management to £45.3bn, amid negative total net flows of £10.3bn. Total underlying net outflows hit £3.3bn with nearly all coming through during the last three months of 2024, Jupiter said.
Critically, the company's cost:income ratio worsened from 73% in 2023 to 78%. The total dividend was halves to 5.4p a share from 9.8p to 5.4p.
Aston Martin hit the skids again after disappointing results on Thursday.
Wood Group share fell sharply after announcing it had appointed Iain Torrens as interim chief financial officer, replacing Arvind Balan who resigned last week after inaccurate claims about his professional qualifications.
Refractory products supplier RHI Magnesita said on Thursday that both revenue and earnings had slipped in FY24 amid "very weak market conditions".
RHI Magnesita said revenues had fallen 1% to €3.48bn in FY24, while adjusted underlying earnings were down 5% at €543.0m and reported pre-tax profits slipped from €233.0m to €200.0m. Earnings per share, however, were up 7% at €5.32 each.
The FTSE 250-listed firm sales volumes fell 1% in its base business, and pricing was down 6%. On the other hand, RHI reduced its net debt position by €53.0m to €1.25bn.
Howden Joinery slid as it reported broadly stable full-year profits and revenue in a "challenging" market, but announced a new £100m share buyback.
Investment manager Man Group said assets under management had grown in FY24 on the back of a solid Q4 trading performance.
Outsourcer Serco posted a dip in full-year revenue on Thursday, in line with its guidance, and a 10% jump in underlying operating profit.
Indivior announced the appointment of Joe Ciaffoni as its next chief executive officer on Thursday, subject to shareholder approval of a new remuneration policy at its annual general meeting in May.
Market Movers
FTSE 250 - Risers
Man Group (EMG) 218.20p 4.30%
Dr. Martens (DOCS) 69.80p 3.87%
Indivior (INDV) 672.00p 3.23%
Serco Group (SRP) 163.80p 3.02%
Helios Towers (HTWS) 97.30p 2.75%
OSB Group (OSB) 435.00p 1.49%
Direct Line Insurance Group (DLG) 276.20p 1.47%
W.A.G Payment Solutions (WPS) 61.80p 1.31%
Bluefield Solar Income Fund Limited (BSIF) 88.20p 1.26%
CMC Markets (CMCX) 205.50p 1.23%
FTSE 250 - Fallers
Ocado Group (OCDO) 280.30p -15.88%
Aston Martin Lagonda Global Holdings (AML) 88.00p -9.28%
Wood Group (John) (WG.) 33.58p -8.90%
RHI Magnesita N.V. (DI) (RHIM) 3,490.00p -7.06%
Howden Joinery Group (HWDN) 784.00p -6.56%
Jupiter Fund Management (JUP) 75.90p -5.83%
Ashmore Group (ASHM) 147.60p -4.77%
Genuit Group (GEN) 353.50p -4.33%
Genus (GNS) 1,752.00p -4.26%
Kainos Group (KNOS) 719.00p -4.01%
