Another broker target cut JP Morgan cuts price target to 128p from 158p; rating neutral
23 Apr '13
thetruthhurts
.
122.50
No Opinion
Sorry wrong board!
23 Apr '13
thetruthhurts
.
122.50
No Opinion
LP 144.25
23 Apr '13
Lowie100
Spt
122.60
No Opinion
I guess the holders will have to wait for May Day to hear how bad things are in more detail.
23 Apr '13
Lowie100
Spt
122.60
No Opinion
Yesterday's RNS (trading update) The anticipated slowdown in the market was more pronounced than expected during the first quarter 2013. All major regions saw a reduction in demand consistent with our customers' reduction in capital expenditure. Customers delayed projects as their plans have been slow to be released for the year, and certain large accounts have not repeated the high level of spending seen in the corresponding period in 2012. As a result revenue fell by $20.6 million to $96.8 million for the first quarter, with operating profit impacted by the loss of gross profit on this lower revenue. The prospects for the second quarter are expected to achieve similar revenue to that of the same period last year. The Interim Management Statement, which will include the first quarter results and further detail on outlook, will be issued on May 1st.