Blue Circle shares hit by Malaysian worries
Tuesday 09 September 1997
Keith Orrell-Jones, chief executive, said he saw "no reason" for a recession in the country. "My judgement is there will be some slowing down in growth", he said. But he admitted that this could still have an effect on Blue Circle, given that cement demand runs at around double the rate of economic growth, while the fall in the value of the ringgitt could hit translation of profits.
Analysts yesterday downgraded annual forecasts for the group from as high as pounds 356m to as low as pounds 335m on the back of the Malaysian problems. Reporting a 22 per cent rise in underlying profits to pounds 142m for the first half, Blue Circle remained optimistic about the outlook in the UK for next year, even if second half demand is running at only slightly above the rate of the first six months of 1997.
Investment column, page 18
The food poverty scandal that shames Britain: Nearly 1m people rely on handouts to eat – and benefit reforms may be to blame
US Navy christens huge $3 billion destroyer ship USS Zumwalt that appears as a fishing boat on enemy radar
Nigel Farage fatigue? Half of voters ‘immune’ to Ukip’s appeal
Scottish independence: It is the English who should be on their knees, begging the Scots to vote ‘No’
Nigel Farage on Have I Got News For You: Ukip leader ridiculed over expenses and party 'fruitcakes'
Refugee facing deportation from Sweden saved by fellow passengers refusing to let plane leave
- 1 Poveglia: 'World's most haunted island' up for auction...is anyone brave enough to buy it?
- 2 Refugee facing deportation from Sweden saved by fellow passengers refusing to let plane leave
- 3 Naked yoga: the bare truth - it's already big in the US, and has now landed here
- 4 24 people applied for the 'world's toughest job', here are their interviews
- 5 Scientists warn we've hit 'peak beard': The more people grow facial hair, the less attractive it is
iJobs Money & Business
£40000 - £50000 per annum + BONUS + BENEFITS: Harrington Starr: A leading, Cit...
£35000 - £50000 per annum + Bonus + Benefits: Pro-Recruitment Group: You must ...
£45000 - £60000 per annum + BONUS + BENEFITS: Harrington Starr: Corporate Acti...
£350 - £400 per day: Harrington Starr: An opportunity has arisen at a FCA regu...