Anglian Group's two top men step down
Tuesday 10 October 1995
Anglian Group, the troubled double glazing firm, yesterday announced that its chief executive, Ron Swift, and non-executive chairman, Sir Colin Barker, are to retire. Their departure from the housing products company follows a collapse in the value of its shares after a profits warning last month.
Sir Colin, 68, who retires in January after four years as chairman, will be replaced by David Perry, chairman at John Waddington. Mr Swift, 55, will leave, after 20 years at the firm, when a successor is found.
Share prices, which had risen slightly after a 20 per cent drop 10 days ago to 113p, remained unchanged yesterday at 122p.
Last month, Anglian Group warned that trading profits in the half-year to the end of September were expected to be down 20 per cent and dividend levels would reflect this fall.
In the past two years the company has been hit by a combination of warm weather, heavy competition and the slump in the housing market.
Sir Colin said last month that while sales in the last six months were comparable to last year's levels, an unfavourable change in their mix, from commercial to retail, was bound to hit results. His comments were followed by 90 sackings at BKL Extrusions, the aluminium business bought for pounds 2.5m last spring.
Anglian shares were floated three years ago at 210p. They subsequently traded as high as 350p as Anglian recorded yearly profits of pounds 24.7m in the 12 months to April 1994, before falling to pounds 21.1m this April.
World's most lethal spider found under a bunch of bananas
Rumours that the star wants to move on to pastures new
Comedian says he 'never laughed as hard as I have writing with Rik'
- 1 Jack the Ripper: Scientists who claims to have identified notorious killer has 'made serious DNA error'
- 2 Ebola outbreak: What is bushmeat – and is it to blame for the disease that has killed thousands?
- 3 Star Wars memorabilia called a 'bit of plastic' by Antiques Roadshow's Fiona Bruce valued at £50,000
- 4 Meet Thea, Norway's 12-year-old child bride
- 5 Russell Brand might seem like a sexy revolutionary worth getting behind, but he will only fail his fans
Ebola outbreak: What is bushmeat – and is it to blame for the disease that has killed thousands?
Oscar Pistorius sentencing: Olympic star must serve 10 years, prosecutor urges
Isis fighters 'crucify' 17-year-old boy in Syria
Kentucky gang rape: 15-year-old boy left in critical condition after sexual attack by group at party
Oscar Pistorius sentence: Athlete's wealth and notoriety provoke an overdue debate on South African prisons
Cameron is warned 'no possibility' of UK reducing immigration and that bid to bring in quota on migrant workers would be illegal
Sorry Judy Finnigan – Ched Evans is no less sickening than an alleyway rapist
Residents should throw a street party and mix with immigrant neighbours, councils told
Workers 'could be forced to pay £5 a week' to get benefits
Russell Brand threatened with arrest after filming outside Fox News headquarters
Amal Alamuddin calls for the return of the Elgin Marbles from Britain: 'Injustice has persisted for too long'
iJobs Money & Business
£60,000 - £80,000: Saxton Leigh: Our client is an leading Asset Manager based...
£27000 - £32000 Per Annum: Clearwater People Solutions Ltd: Our large charity ...
£50000 - £55000 per annum + bonus + benefits: Ashdown Group: IT Relationship M...
Highly Attractive Salary : Austen Lloyd: NOTTINGHAM - BRILLIANT FIRM - You wil...