Worm may be about to turn ?1 Nov 2008 09:42
After a dreadful reaction to three profits warnings as a result of continued decline in Chinese trade, which accounted for 50% of trade, however, the Directors have now commenced a strategic review to cut costs. There are rumours circulating, and they are only rumours, that Danahar the US group may try and have another pop at this outfit, after its previous tentative offer two years ago at £2.15/share was rejected. There is no doubt that market sentiment will continue to play havock here, but developments appear to have stalled the share price fall, but is it enough to stem the continued bllodletting, maybe, just maybe is my opinion, as world economies tentatively begin to stabilise, and its near £10Mns cash pile.