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Redhall warns of profits 'materially below' expectations

Wed, 01st May 2019 10:43

(Sharecast News) - Engineering business Redhall warned investors on Wednesday that delays in the award of a number of expected new contracts meant that its full-year performance would now be "materially below its previous expectations".Redhall subsidiaries Jordan Manufacturing and Booth Industries were pegged to win a number of new contracts in the current trading year, which would drive a strong trading performance in the second half of the year.However, delays and a reduction in the value of Jordan Manufacturing's contract for an unnamed major nuclear infrastructure programme meant the AIM-listed group's figures looked set to be significantly short of guidance issued on 6 March."The full year result remains dependent upon securing a number of key prospects and therefore remains uncertain," said Redhall.Looking forward, Redhall's near-term pipeline was said to be strong, in particular for Booth Industries where the business had "a number of prospects across the infrastructure, defence and oil and gas sectors"."Overall, market conditions remain robust in most of the group's core markets and its pipeline of opportunities remains strong. The board anticipates that this pipeline will deliver steady growth into 2020," said Redhall.As of 1040 BST, Redhall shares had tumbled 33.33% to 0.95p.
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6 Jun 2014 13:51

Redhall Chief Executive quits after profit warning

Engineering support services group Redhall blamed substantial delays in securing work for a profit warning and said its Chief Executive was quitting. Redhall, which provides services to the oil & gas industry, said it had reviewed its forecasts and now expected 2013/14 results to be similar to thos

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6 Jun 2014 10:49

UK MIDDAY BRIEFING: Morrisons Hit By Investor Disquiet At AGM

LONDON (Alliance News) - Wm Morrison Supermarkets is one of the big fallers on the FTSE 100 Friday after it was hit by investor disquiet over its turnaround plan at its annual general meeting, with significant protest votes against the re-election of Chief Executive Dalton Phi

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6 Jun 2014 09:38

Friday broker round-up UPDATE

African Minerals: Investec places both its target price (prev.: 189p) and its buy recommendation under review. ASOS: JP Morgan reduces target price from 6600p to 4259p and retains its overweight rating. Citi reduces target price from 7000p to 3700p, while leaving its buy recommendation unchanged. D

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6 Jun 2014 09:36

UK WINNERS & LOSERS: Synergy Health Boosted By Contract Win

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Friday.
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FTSE 100 - LOSERS
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Smith & Nephew, down 1.1%. Volatile trading in the medical technology compa

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6 Jun 2014 07:29

UK MORNING BRIEFING: Shares Gain At Open Ahead Of US Jobs Figures

LONDON (Alliance News) - UK shares have opened higher Friday following a strong lead from Wall Street and ahead of US jobs figures later in the day.

Four brokers have slashed their price targets for AIM darling ASOS, following its fall from grace on Thursday, but re

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6 Jun 2014 06:48

Redhall CEO Resigns After Second Profit Warning In Two Months

LONDON (Alliance News) - Redhall Group PLC Chief Executive Richard Shuttleworth resigned Friday, after the company lowered its expectations for its current financial year for a second time in two months, hit by further delays in the timing of major contracts and as it took a more cautious line on

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3 Jun 2014 05:29

UK Earnings, Trading Statements Calendar - Week Ahead

Tuesday, June 3Read more
2 Jun 2014 13:45

UK Earnings, Trading Statements Calendar - Week Ahead

Tuesday, June 3Read more
2 May 2014 11:56

UK MIDDAY BRIEFING: IHG, RBS And AstraZeneca Highlight London Trade

LONDON (Alliance News) - InterContinental Hotels Group saw its share price jump Friday after the company declared a USD750 million special dividend and reported strong results for its first quarter.

IHG's dividend comes after the firm completed two asset disposals

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2 May 2014 11:00

UK WINNERS & LOSERS: InterContinental Hotels, RBS Lead FTSE 100

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Friday.
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FTSE 100 - WINNERS
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InterContinental Hotels Group, up 8%. The company has reported that revenue pe

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2 May 2014 09:31

Redhall Group Warns On Contract Delays; Finance Director Resigns

LONDON (Alliance News) - Redhall Group PLC Friday said it is trading in line with expectations but said further delays are being experienced converting major opportunities into contract awards. It said it now expects these delays to result in a deterioration in its performance to a level be

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26 Mar 2014 12:00

Redhall Confident Of Meeting Internal Hopes Despite Project Delays

LONDON (Alliance News) - Redhall Group PLC Chairman David Jackson Wednesday said trading in the first half of the company's financial year will be marginally ahead of last year, but its profitability will be weighted towards the second half after delays in some of its key projects. In a sta

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26 Mar 2014 08:40

UK MORNING BRIEFING: UK Completes 2nd Sale Of Lloyds Bank Shares

LONDON (Alliance News) - Shares have opened higher Wednesday, as the UK government completed its second sales of shares in Lloyds Bank.

The UK government said it has raised GBP4.2 billion from the sale, meaning it has now recouped GBP7.41 billion of the roughly GBP

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7 Mar 2014 12:51

UK MIDDAY BRIEFING: Boohoo.com Latest On IPO Catwalk

LONDON (Alliance News) - Online fashion retailer Boohoo.com, the latest UK retailer to firm up its initial public offering, has said it plans to raise GBP300 million in the AIM listing, giving it a higher-then-expected initial market capitalisation of GBP560 million.

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7 Mar 2014 10:57

UK WINNERS & LOSERS: Aviva Leads Blue-Chip Risers Again

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Friday. ------- FTSE 100 - WINNERS Aviva, up 4.2%. After closing as the blue-chip index's biggest riser on Thursday, Aviva is again the stand out performer Frid

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