Markets continued to claw back some of the month’s losses following signs yesterday from China and the US that they would resume trade talks. The FTSE 100 was trading up 0.4% at 7,212 while the FTSE 250 advanced by a similar amount to 19,370.
Selco-owner Grafton (GFTU) reported an uptick in half-yearly profits on improved margins strength in its merchanting and retailing businesses in Ireland, giving the shares a 4.5% boost to 717p.
For the six months ended 30 June, pre-tax profit rose 5% to £88.2m from a year earlier as revenue increased 2% to £1.5bn.
At the other end of the performance table footwear retailer Shoe Zone (SHOE:AIM) saw its shares clobbered 37% to 120p following a profit warning and the immediate exit of chief executive Nick Davis.
The company said its performance had been hurt by a tough high street trading environment.
It also warned that it would write down the value of its 17 freehold properties by £3.1m to £5.3m, resulting in a one-off charge in its 2019 results.
Oxo-to-Batchelors food producer Premier Foods (PFD) announced that it had appointed Alex Whitehouse as its new chief executive, replacing interim chief and chief finance officer Alaistair Murray who agreed to step down with immediate effect.
Duncan Leggett, group director of financial control and corporate development, will become acting chief financial officer pending a permanent appointment. The shares were trading up 1.6% to 33.5p.
Healthcare software provider EMIS (EMIS:AIM) reported a fall in profit in line with management expectations in the first half of the year, lifting its shares 3p to £11.15.
For the six months ended 30 June 2019, pre-tax profit fell £12.1m from £12.6m a year earlier even as revenue increased 7% to £79.8m.
Iron ore producer Ferrexpo (FXPO) said an independent review found that there was evidence some of its funds donated to the Blooming Land Charity had been misappropriated, though none of the company's directors, management or employees had been found to have any involvement. Its shares traded 1.8% higher at 202.5p.
The independent review committee said it had not been possible to explain a number of discrepancies outlined in the 2018 annual report relating to the charity and its use of funds donated by Ferrexpo.
A full list of today’s risers and fallers can be found HERE
