Summary
Havelock Europa shares crashed by almost 30% yesterday as it posted a third profits warning in five months.
Weather disruption and factory integration problems in the past few weeks have compounded the economic slowdown for the retail and educational interiors group, which said it expected 2009 results to be “significantly below current market expectations”. Havelock expects an operating profit before exceptional costs and interest, and said its bankers were supportive. “The company is discussing revised terms for its facilities and has obtained from its bank a waiver of the year end interest cover convenant test.”See the full content of this document
Extract
Havelock Shares Fall 30% After Third Warning Is Issued
Last August the Fife-based group, after reporting seven successive years of profit growth, reported a pre-tax loss in its ...
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