FTSE 250 movers: Lamprell tanks on profit warning

Date: Friday 08 Jun 2012

Energy markets-focused engineer Lamprell was battered after sneaking out a profit warning on Thursday after the London market closed, saying that it now expects to make a half-year loss of between $15m and $20m, compared with earlier guidance of "a small loss". The group also said that Chairman Jonathan Silver would step down.

"We continue to believe that management’s credibility has fundamentally deteriorated," Nomura said in a research note this morning.

Meanwhile, mining firm Bumi leapt into the top spot after signing a contract to sell 50m metric tons of coal at an average price of $80 per ton this calandar year, according to Dow Jones Newswires.

The publisher has reported that the firm's Resource Director, Dileep Srivastava, said: "The sales contract is 67% of our 75-million-ton output guidance for 2012."



FTSE 250 - Risers
Bumi (BUMI) 357.00p +9.48%
Atkins (WS) (ATK) 684.00p +4.67%
RPS Group (RPS) 205.10p +4.11%
New World Resources A Shares (NWR) 321.30p +2.65%
Grainger (GRI) 89.60p +2.52%
Bellway (BWY) 759.50p +2.08%
Synergy Health (SYR) 881.50p +1.97%
Brown (N.) Group (BWNG) 233.10p +1.75%
Pennon Group (PNN) 742.00p +1.37%
PZ Cussons (PZC) 334.70p +1.27%

FTSE 250 - Fallers
Lamprell (LAM) 83.50p -23.18%
Afren (AFR) 108.00p -7.85%
Kesa Electricals (KESA) 50.05p -7.49%
Anglo Pacific Group (APF) 237.10p -6.17%
Lonmin (LMI) 745.00p -5.93%
Ocado Group (OCDO) 94.90p -5.10%
Essar Energy (ESSR) 118.20p -4.91%
Heritage Oil (HOIL) 121.10p -4.87%
Kenmare Resources (KMR) 45.60p -4.10%
Avocet Mining (AVM) 157.00p -3.98%

NR

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