Today I’m discussing five FTSE 250 (INDEXFTSE:MCX) plays set to deliver sterling returns.

Driving higher

I expect roadside assistance play AA (LSE: AA) to provide resplendent returns in the years ahead as its transformation drive clicks through the gears. The company is chucking vast sums at improving its marketing, not to mention its digital footprint, and is also embarking on massive cost-cutting to boost profits.

The City expects AA’s earnings to edge 4% higher in 2016, resulting in an ultra-low P/E ratio of 11.4 times. And a predicted 14% bottom-line swell next year moves the reading to a mere 10.1 times.

And dividend chasers aren’t likely to be disappointed, either — projected payments of 9.9p and 11p for 2016 and 2017 create chunky yields of 3.6% and 3.9%.

Build a fortune

Despite escalating fears over the health of the British construction sector, I believe Galliford Try (LSE: GFRD) has what it takes to keep earnings climbing higher. Indeed, the firm printed record pre-tax profit of £52.9m during July-December, and solid order books across its Construction and Partnership arms provide it with terrific medium-term visibility.

The number crunchers expect Galliford Try to enjoy a 10% earnings surge in the period to June 2016, creating a bargain-basement P/E rating of 10 times. And the extra 20% increase chalked in for 2017 drives the multiple to just 8.4 times.

This splendid earnings growth is expected to keep dividends chugging higher too. The full-year payment is expected to leap to 80.1p per share in 2016, resulting in a 6.3% yield. And a predicted 99.5p dividend next year yields a smashing 7.8%.

Set to soar

Following the acquisition of Landmark Aviation in September, I expect profits at BBA Aviation (LSE: BBA) to surge ahead in the coming years. The deal gives the company’s Signature flight support arm an impressive 195 fixed based operation (or FBO) sites, putting it in the box seat to enjoy recovering corporate jet activity.

An expected 1% earnings uptick for 2016 leaves BBA Aviation dealing on a reasonable P/E rating of 14.2 times. And the multiple edges down to 12 times for next year thanks to a predicted 18% earnings surge.

Meanwhile, forecast dividends of 12.9 US cents for 2016 and 13.5 cents for next year yield a meaty 4.4% and 4.7%, respectively.

Fashion star

Clothing and accessories retailer N Brown (LSE: BWNG) saw its share price tank after advising of “challenging market conditions” in late April. But I believe this represents a fresh buying opportunity and expect the firm’s improving digital presence — not to mention popular specialist brands like Simply Be and Jacamo — to deliver chunky returns in the years ahead.

This view is shared by the City, and N Brown is expected to generate earnings growth of 4% and 9% in the periods to February 2017 and 2018, respectively. These figures create mega-low P/E multiples of 10.9 times and 9.9 times.

And value hunters should be enticed by predicted dividends of 14.5p per share for 2017 and 15.2p for next year. These numbers yield 5.4% and 5.7%.

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Royston Wild has no position in any shares mentioned. The Motley Fool UK owns shares of and has recommended BBA Aviation. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.