Drop overdone - it's getting silly27 Oct 2016 10:10
"Group revenues increased by 36% (September 2015: 48%) to £79.6m (September 2015: £58.5m) with organic growth of 21% (September 2015: 17%).
Both the Assurance and Escrow divisions showed strong organic revenue growth, up 25% and 4% respectively, despite the first four months of the financial year typically being the Group's quietest trading period.
The Group however experienced a number of setbacks in the Assurance Division including three large unrelated contract cancellations, a large contract deferral and difficulties with some managed services contract renewals.
It is too early to quantify the likely impact in the current financial year, as the Group is taking the necessary action to mitigate these developments. However, the Group's rate of growth in profitability will now be more biased towards the second half of the year than initially expected, but remains in line with the Board's expectations."
Extract from RNS. All the number looks impressive compared to last year and 3 contracts are in a bit of a pickle not completely lost as the board are clearly focused to get it back- as they say "it is a work in a progress to get it back"..so the 7day drop is over the top and it is getting silly now.