FTSE 250 movers: Future surges on outlook; Stroll shares buy powers Aston Martin

by | Sep 29, 2023

(Sharecast News) – Shares in specialist media firm Future surged by more than 20% on Friday as it held annual earnings guidance despite volatile markets, and a warning that trading conditions remain mixed.
Audience numbers stabilised in the second-half and the group had positive month-on-month momentum in the final quarter, Future said in a trading update for the year to September 30, 2023.

As a result, adjusted operating profit is expected to be in line with the company’s own compiled forecasts of £254.1m, “delivering a resilient performance despite continued macroeconomic volatility impacting our sector”.

However, overall trading conditions remained mixed, with challenges in consumer spending and the digital advertising market, Future added .

“As a result, advertising and affiliates product trends are broadly in-line with the first-half, as expected, despite a robust Prime Day in July. Go.Compare revenue has accelerated in the second half, reflecting favourable market volumes with consumers looking for value. Magazine revenue has remained resilient.”

It said foreign exchange has been a headwind in the second half, given currency movements in the period.

Aston Martin announced on Friday that Yew Tree Consortium, led by chair Lawrence Stroll, has raised its stake in the business by a further 3.27%.

The investment takes Yew Tree’s holding in the business to 26.23%.

“This additional investment demonstrates the Yew Tree Consortium’s continuing confidence and belief in the future of Aston Martin,” Stroll said.

Stroll became executive chairman of the British luxury car maker after leading the Yew Tree Consortium’s initial investment in the company in April 2020.

“We have rebuilt this iconic company, transforming it into an ultra-luxury brand, with a portfolio of highly desirable, performance-driven cars. This increased investment demonstrates our continuing, long-term commitment to the company, our conviction for the future and the shareholder value the company will deliver.”

Cruise line operator Carnival said it had swung to a third quarter profit and cut its annual loss forecasts, boosted by higher ticket pricing and string demand.

The company on Friday posted third-quarter profit of $1.07bn, or 79 cents a share, compared with a loss of $770m, or 65 cents per share, a year earlier. Revenues leapt 59% to a record $6.85bn.

Carnival said it now expected a annual loss per share of between 12 cents and 4 cents, compared with a prior forecast for a loss between 20 cents and 8 cents.

Total bookings hit a third quarter record of $6.3bn surpassing the previous record of $4.9bn in 2019.

“The outperformance was driven by strength in demand, with both our North America and Australia segment and Europe segment equally outperforming across expectations,” said chief executive Josh Weinstein

He added that North American bookings were exceeding historical highs and European brands achieved its pre-pandemic levels.

“Our booked position for 2024 is further out than we have ever seen and at strong prices,” Weinstein said.

Market Movers

FTSE 250 (MCX) 18,333.37 1.30%
FTSE 250 – Risers

Future (FUTR) 867.50p 21.41%
Aston Martin Lagonda Global Holdings (AML) 294.80p 12.95%
Digital 9 Infrastructure NPV (DGI9) 37.05p 10.60%
Syncona Limited NPV (SYNC) 116.00p 9.23%
Pennon Group (PNN) 584.00p 5.99%
NCC Group (NCC) 117.00p 5.22%
Ascential (ASCL) 207.80p 5.06%
Derwent London (DLN) 1,930.00p 5.01%
Elementis (ELM) 125.80p 4.83%
Carnival (CCL) 1,096.00p 4.53%

FTSE 250 – Fallers

Ceres Power Holdings (CWR) 314.40p -3.79%
SDCL Energy Efficiency Income Trust (SEIT) 66.90p -3.74%
Hipgnosis Songs Fund Limited NPV (SONG) 80.10p -2.91%
PZ Cussons (PZC) 142.80p -2.59%
Octopus Renewables Infrastructure Trust (ORIT) 88.30p -2.43%
NB Private Equity Partners Ltd. (NBPE) 1,600.00p -1.96%
North Atlantic Smaller Companies Inv Trust (NAS) 3,540.00p -1.67%
IntegraFin Holding (IHP) 235.20p -1.34%
Apax Global Alpha Limited (APAX) 162.40p -1.22%
JPMorgan Japanese Inv Trust (JFJ) 461.00p -1.07%

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