LONDON (ShareCast) – Technical product firm Diploma (LSE: DPLM.L – news) was a big faller after it told investors its final results would be adversely affected by the appreciation of sterling.
Broker Jefferies warned that currency headwinds will likely result in mid-single digit downgrades to earnings estimates for this year. Diploma, which operates through its Life Sciences, Seals and Controls divisions, said on Monday that underlying revenues for the half year ending March 31st are expected to be up 7% year-on-year, ahead of Jefferies’ 6% growth forecast. Jefferies said this implies that organic growth had improved to 8% in the second quarter from 6% in the first, “driven by an impressive bounce-back in the Controls division”.
Energy firm Cairn fell in line with the wider sector which declined on rumours the UK government is considering forcing companies to split up in order to improve competition.
Carphone Warehouse (LSE: CPW.L – news) declined after announcing it needed more time to to thrash out a potential merger with Dixons Retail (Other OTC: DSITF – news) . The deadline has been extended to May 19th.
Meanwhile, on the other end of the spectrum, Egypt-focused gold miner Centamin (Toronto: CEE.TO – news) delivered record operating profits in 2013 as an increase in production and falling costs managed to offset a steep drop in commodity prices. Full-year output totalled 356,943 ounces last year, up 36% on 2012 and well ahead of the guidance of 320,000 ounces.
Oil and gas engineer Kentz Corporation (LSE: KENZ.L – news) rose after it posted higher annual profits and predicted that 2014 trading would outstrip its expectations. Kentz (Frankfurt: 3UJ.F – news) said pre-tax profit in the year to December 31st rose 12.6% to $ 118m. Revenue lifted 6% to $ 1.7bn.
Phoenix (LSE: PHNX.L – news) rose strongly after Standard Life (LSE: SL.L – news) confirmed speculation that it is in talks with the group regarding the potential purchase of the latter’s Ignis Asset Management division.
FTSE 250 – Risers
Centamin (DI (KSE: 003160.KS – news) ) (CEY) 57.35p +9.24%
Kentz Ltd. (KENZ) 770.50p +5.12%
JD Sports Fashion (LSE: JD.L – news) (JD.) 1,648.00p +4.04%
Computacenter (CCC) 665.50p +3.90%
Cranswick (CWK) 1,231.00p +3.27%
Perform Group (Frankfurt: 8PG.F – news) (PER) 245.00p +2.98%
AL Noor Hospitals Group (ANH) 1,013.00p +2.84%
PZ Cussons (LSE: PZC.L – news) (PZC) 345.70p +2.55%
Phoenix Group Holdings (DI) (PHNX) 704.50p +2.40%
Inmarsat (LSE: ISAT.L – news) (ISAT) 728.00p +2.25%
FTSE 250 – Fallers
Diploma (DPLM) 670.00p -11.84%
Cairn Energy (LSE: CNE.L – news) (CNE) 151.60p -4.41%
BTG (LSE: BTG.L – news) (BTG (Other OTC: BTGGF – news) ) 554.00p -3.65%
Carphone Warehouse Group (CPW) 327.30p -3.54%
Northgate (NTG) 543.00p -3.04%
Keller Group (LSE: KLR.L – news) (KLR) 1,007.00p -2.99%
Partnership Assurance Group (PA.) 118.60p -2.95%
Regus (Frankfurt: RGV.F – news) (RGU) 210.50p -2.77%
Millennium & Copthorne Hotels (LSE: MLC.L – news) (MLC) 565.00p -2.75%
CSR (Frankfurt: GQY.F – news) (CSR (LSE: CSR.L – news) ) 704.50p -2.69%