FTSE 250 shares round-up: Bloomsbury, Renishaw, Inchcape

The latest instalment of the Bloomsbury Publishing (LSE:BMY) dividend growth story and more strong trading by Renishaw (LSE:RSW) today contrasted with a setback for car distribution firm Inchcape (LSE:INCH).

FTSE 250-listed Bloomsbury pointed out in its half-year results that £10,000 invested in the company at its flotation in 1994 would be worth £624,000 with dividends reinvested.

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The payout has improved every year across those three decades, culminating in a compound annual growth rate of 9.7% for the 10 years up to 2025-26's total of 16.2p a share.

The record of growth continued today as Bloomsbury declared a 5% increase in the interim dividend to 4.28p a share, which is payable on 27 November.

Bloomsbury yields dividend income of 2.44%, which compares with 3.5% earlier this year after shares advanced by 56% on March's level to reach last week's 18-month high of 686p.

The advance was fuelled by the disclosure that release dates for the next two novels by bestselling author Sarah J. Maas will be in the current financial year.

All 16 of her previous novels have been published by Bloomsbury, with A Court of Splintered Harmony and A Court of Forgotten Melody set for Tuesday and 12 January respectively.

September's release of titles by Gillian Anderson and Stephen Graham, plus the impact of HBO Max's launch of J.K. Rowling’s Harry Potter series on Christmas Day, will mean that the financial performance of Bloomsbury's consumer division is second half-weighted.

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In the Academic & Professional Division, Bloomsbury reported good underlying growth in all territories and in both print and digital. Adjusted profit for the six months to 31 August fell by 30% to £16.8 million but Bloomsbury continues to expect a record full-year result.

The company, which was founded in September 1986, has published over 200,000 titles, eight Nobel Prize winners, four Booker Prize winners and four winners of the Women’s Prize.

The shares trade on 16.5 times Berenberg's 2028 forecast earnings, which the bank regards as attractive in the context of potential upgrades and a five-year historical average of 15 times.

Its price target of 825p compares with Peel Hunt's 815p and today's level of 644p after shares gave up some of their recent gains on the back of the interim results.

Renishaw led the FTSE 250 index after the supplier of measuring and manufacturing systems said it had built on the strong performance seen in last month's record annual results.

It said demand in the semiconductor, aerospace and defence sectors remained strong and that this is now being complemented by wider automation investment in other industries.

The recent full-year results included plans for a £51 million special dividend worth 70p per share, which will be paid on 3 December alongside a final dividend of 65.2p.

Shares peaked earlier this month at 5,990p, having last traded above 6,000p in early 2021 when a short-lived sale process propelled Renishaw into the FTSE 100 index for the first time.

It began today's session as the fifth-largest company in the FTSE 250 index after shares fell back to 5,215p. They have since rallied 110p to 5,460p, which compares with Peel Hunt's new position of 7,000p after it lifted its price target from 6,700p.

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It said the stand-out feature was that growth is being achieved across all three divisions, with 9% quarter-on-quarter revenue growth in Industrial Metrology “particularly notable”.

Inchcape slumped to the bottom of the FTSE 250 after it said significant underperformance in Australia resulted in margin guidance for 2026 of 5.5% compared with its medium-term objective of 6%.

The company's distribution platform spans product planning and pricing, import and logistics, brand and marketing through to managing physical sales and aftermarket service channels.

Inchcape’s relationships with vehicle manufacturers stretch back to the 1960s when it first began working in partnership with Toyota.

The challenging situation in Australia, where the company's key brand has underperformed in a rapidly-evolving market, has offset strong momentum in the Americas and broad-based growth in Europe and Africa.

Organic volume growth expectations are unchanged at the top end of the company's 3%-5% guidance range, with adjusted earnings per share growth set to be in line with its medium term objective for growth at a compound rate of at least 10%.

This has been supported by disciplined capital allocation, the current £250 million share buyback programme and one-off tax benefits.

Shares fell 60.5p to a six -year low of 629.5p, which compares with Peel Hunt's lower price target of 850p and Berenberg's 970p.