Possible reason for fall5 May 2011 21:23
This was one view:
LONDON (ShareCast) - African conglomerate Lonhro reported good growth across its operations in the second quarter, but it said some growth businesses have had a slow start and the shares fell.
Sales in the three months to 31 March were up by 37% from the same period a year ago at £33.5m.
At the agribusiness, turnover was up by a third at £16.5m. The transport business saw turnover climb by 18% to £5.5m, revenues at the support services division more than doubled to £5.2m, infrastructure division revenues were up by 12% and the hotels division’s sales were up by 69% at £2.2m.
Lonhro said it “has seen short-term delays affect the speed of deployment in some of the growth businesses.”
The airline Fly540 Angola experienced some delays in its roll-out and the Grand Karavia hotel in the Democratic Republic of Congo had a slow start following opening.
Not sure I buy that (ie Fall was due to this phrase ".....short-term delays...." which is what is claimed. 17p was decent buying level before Q2 figs. Now 37% up and it looks silly really.
(PS IAN I support Leyton Orient (yes I am the one!!) and stay in France, hence the name! ) GLA