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Share Price: 33.00

Bid: 32.00

Ask: 34.00

Change: 0.00 (0.00%)

Spread: 2.00 (6.25%)

Open: 33.00

High: 33.00

Low: 33.00

Prev. Close: 33.00

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Flooring Maker Airea Says Earnings Flat In Half On Restructuring Costs

Thu, 21st Jan 2016 09:11

LONDON (Alliance News) - Flooring manufacturer Airea PLC on Thursday said its first half earnings were broadly flat despite a hit taken from the weaker euro.

Airea said its earnings for the half to the end of December were broadly in line year-on-year, despite a drag from the weak euro and costs related to the relocation of its manufacturing operations.

The company has consolidated its four manufacturing sites into two and has booked one-off costs related to the move, though it expects this to significantly cut its running costs going forward.

Shares in Airea were down 11% to 15.50 pence.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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Flooring Maker Airea Says Earnings Flat In Half On Restructuring Costs

Small caps round-up: Fitbug, Environmental Recycling, Airea

Wolseley chairman spends £200,000

London close: Miners push Footsie higher

London afternoon: Housebuilders get Budget boost

Airea's markets remain depressed

Tesco's Leahy makes £2.24m share gain

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