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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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1 Oct 2010 07:37

London pre-open: BP divi hopes to lift Footsie

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1 Oct 2010 07:10

Cooper offers 82p a share for Mount

Having thought about it all week Cooper Controls has launched a rival bid for Mount Engineering. Mount is currently recommending a 70p a share bid from AIM-quoted Redhall, but Cooper Controls, having indicated on Monday 27 September that it was considering an offer of at least 78p per Mount share,

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27 Sep 2010 18:47

Cooper ponders Mount bid

A subsidiary of Cooper Industries says that it is considering a rival bid of at least 78p a share for Mount Engineering. Cooper Safety hopes it can gain the agreement of Mount's board and shareholders for its bid. Any bid is subject to due diligence, which should be complete by the end of the week.

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22 Sep 2010 17:00

London close: Stocks close lower as rally fizzles out

Footsie gave up a brief rally to close in the red on an uncertain day's trading in the wake of Federal Reserve chairman Ben Bernanke's nervous comments on US economic prospects yesterday. Shares in the US moved lower despite having rallied earlier. Similar sentiments to those expressed by Bernank

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22 Sep 2010 14:45

London afternoon: Miners shore up Footsie

Leading shares made steady progress over the lunch time session returning the blue-chip index more or less back to where it finished overnight. Mining stocks are primarily responsible for the Footsie's level position, with industrial metal miners such as Antofagasta, Kazakhmys and Rio Tinto now do

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22 Sep 2010 12:11

London midday: Gold stocks shine in dull market

The market has been absorbed in interpreting smoke signals from the US and UK central banks today. In the US, the Federal Reserve left interest rates at just above 0% and said yesterday it expects the recovery to continue, but added "the pace of economic recovery is likely to be modest in the near-t

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22 Sep 2010 08:51

London open: Banks behind weak start

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22 Sep 2010 07:33

Redhall snaps up Mount

Redhall has agreed to buy Mount Engineering for 70p per share, valuing the oil and gas valve maker at £16m. Redhall, which already provides services for the energy, defence and nuclear industries, said the purchase will boost in its international presence in the oil and gas market and strengthen it

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8 Apr 2010 08:01

Redhall on track for FY

Engineering support services group Redhall said trading in the six months to 31 March 2010 has been in line company expectations and is confident of meeting full year targets. "Whilst the overall market remains competitive, we have seen growth within the key areas of energy and defence where our te

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Friday tips round-up: Go-Ahead, Halma, Marston's

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3 Dec 2009 16:11

Redhall sparkles

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London close: Footsie slides with Wall Street

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London afternoon: Blue chips drifting along

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