FTSE 250 shares round-up: Funding Circle, Trustpilot, Premier Foods
There have been some big winners on the mid-cap index this session, but also some heavy losses. City writer Graeme Evans runs through the major movers.
16th July 2026 16:15
by Graeme Evans from interactive investor
Mr Kipling French Fancies. Photo: Angela Nicholson/PhotoPlus Magazine/Future via Getty Images.
Funding Circle today produced the pick of the FTSE 250 updates as the hot streak for shares of the small business lending platform continued in the wake of a “standout” six months.
The stock rose by another 15.8p to a seven-year high of 192.8p, meaning they have surged by 30% so far in July and by more than 55% across 2026. However, they remain a long way short of the 440p seen in its £1.5 billion stock market flotation of 2018.
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The company, which connects small and medium-sized enterprises (SMEs) with investors who want to lend, was set up in 2010 and has provided £18 billion in loans to 135,000 businesses since then.
Half-year revenues jumped by 50% to £138 million, which keeps the company well ahead of full-year guidance of £235 million as trading has benefited from the launch of a new shorter-term loan offering and strong levels of SME demand in the first quarter.
Pre-tax profit of about £23 million is up from £6 million the year before and on track for full-year guidance of £35 million.
The Term Loans business grew originations to £1.05 billion, which as a highly cash generative operation has enabled Funding Circle Holdings (LSE:FCH) to increase investment in its FlexiPay and Card products. This part of the business lifted transactions by 71% to £640 million in the six months.
Chief executive Lisa Jacobs, who launched the turnaround strategy in 2022, said today: “We remain focused on profitable growth - backing even more small businesses across the UK with the funding they need to succeed."
As a capital-light business with a robust balance sheet, Funding Circle has so far bought back £72 million of shares representing 18% of its issued capital.
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Today’s share price performance contrasted with another of this year’s FTSE 250 top performers as consumer reviews platform Trustpilot Group (LSE:TRST) fell 40p to 250.8p.
The shares were as low as 129p after December’s critical report by a US-based short selling firm and 135p as recently as mid-February.
Today’s decline came even though Trustpilot said first-half revenues rose 23% to $151 million and bookings, which are a leading indicator of future growth, by 18% on a constant currency basis.
It is on track to deliver full-year guidance of high-teens constant currency revenues growth.
Peel Hunt said: “While it is another good print for Trustpilot, with continued momentum in bookings and further progress in North America, we believe the market may be disappointed by the lack of a guidance upgrade today.”
Looking into the second half of the year, the bank expects better booking trends in the UK to help offset a moderation in North American growth as comparables become tougher.
The shares have risen 77% year to date, but Peel Hunt said Trustpilot still traded on an enterprise value of four times forecast sales and 19 times underlying earnings.
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The bank reiterated its Buy stance with a price target of 380p, adding: “We continue to expect a strong performance, supported by the structural tailwinds AI presents for the business.”
An update by Premier Foods (LSE:PFD) also triggered a bout of profit taking among investors, having seen shares rise 18% as one of the 50 best stocks in the FTSE 250 index in the first half of 2026.
They drifted 3.3p to 195.6p in today’s session, even though Premier said branded sales lifted 4% in the first quarter of its financial year. This was driven by Mr Kipling after the launch of birthday cake slices contributed to a 9% sales rise in the period to 27 June.
Recently acquired brands, The Spice Tailor, FUEL10K and Merchant Gourmet, all delivered double-digit revenue growth as Premier backed 2026-27 profit expectations.
Peel Hunt reiterated its Buy stance and target price of 260p. The bank believes the shares are good value on 12.8 times forecast earnings, particularly given Premier’s strong margins and free cash flow.
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