Profit warning wipes 30% off manufacturer’s shares
Shares in window and door manufacturer Safestyle UK slumped by 30% this morning, wiping £60m off its market value.
This comes after issuing a profit warning this morning after announcing that the group’s order intake has “declined beyond its expectations.” Shares closed at a price of 165p, 30% down from 235p yesterday.
The Bradford-based group announced in July that given the uncertain market conditions and weaker consumer confidence it anticipated profit for the year would be lower than previously expected and broadl... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
