Results25 Apr 2010 12:09
Expected some time this week.Showing strong support around 18p not sure what initial reaction will be with sp (buy on rumour sell on news) but expect updates and some indication of value on lloyds contract and cost cutting (more jobs going) to mitigate poor results and hopefully a stronger longer term outlook for the rest of 2010!
In the press 22/04
MORE THAN 40 jobs are thought to be under threat at Dalgety Bay shopfitting firm Havelock Europa.
The Press understands workers face the axe across several departments, including sales and marketing as well as at their Kirkcaldy plant, as part of cost-saving cuts.
It means further gloom for workers who survived last year's job losses in both its manufacturing and project divisions, which included 55 people leaving in December.
That was blamed on the recession after the firm suffered a 31 per cent slump in order intake in the first 10 months of 2009.
The Press reported in August that bosses warned job cuts were "likely" following an end to a seven-year run of increasing profits.
The firm's board announced in a trading statement this month that they didn't expect a return to normal trading conditions this year "in the markets in which the group operates".
However, they revealed that orders had increased over the last three months.
The trading update states, "Over the last three months, there has been an encouraging increase in the level of enquiries and in new orders received.
"The board believes that it has rectified the operational issues which arose in 2009 and that the cost savings generated through the integration of the group's retail and educational interiors businesses are now being realised.
"Overall, the board is cautiously optimistic that the group is now in a position to move forward again and continues to believe that there will be an improvement in trading in 2010."
No mention of job losses is made.
The money-saving merger between its retail and education divisions is expected to give Havelock a £1.4 million boost each year.
Former chief executive, Hew Balfour (58), stepped down from his role earlier this month after 21 years with the company.
David Hurcomb has been appointed as interim chief executive and a director as the Havelock board search for a permanent replacement.
The company did not respond to the Press yesterday (Wednesday).
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