Drew Scientific warns of expected first-half loss
Thursday 07 October 1993
The company, whose listing last May was accompanied by bullish comments about rapid growth, discovered reliability problems over a bought-in component for its medical testing equipment.
Drew said the problem had been rectified and shipment of the instruments had been resumed. Legal action for compensation from the American supplier was being considered.
The company, which at the time of the flotation had expected to post an interim profit in December, would now report a loss of about pounds 850,000, Drew said. The company admitted that there had been disappointments since the flotation, but believed that 'the group's potential for rapid growth from 1994 onwards remains strong.'
The shares initially fell 7p to 73p before regaining the loss, probably because the City's initial concern was mellowed by news that Drew had received clearance from the US Food and Drug Administration for its G15 testing equipment.
Clearance in Japan is expected by the end of the year.
- 1 New Zealand 'the best country to work as a prostitute', says sex worker advocacy group
- 2 Purity balls: Girls in the US making virginity pledges as fathers vow to 'protect purity'
- 3 Mother 'will allow son's circumcision in return for release from prison'
- 4 Puerto Rico, island of lost dreams: People are leaving the debt-hit territory in droves as near neighbour Cuba's star rises
- 5 Female Muay Thai champion hustles coaches to give them a beating
Purity balls: Girls in the US making virginity pledges as fathers vow to 'protect purity'
Puerto Rico, island of lost dreams: People are leaving the debt-hit territory in droves as near neighbour Cuba's star rises
Female Muay Thai champion hustles coaches to give them a beating
16-year-old girl beaten and burned alive by lynch mob in Rio Bravo, Guatemala
Warren Buffett thinks the poor should stop blaming inequality on the rich
As a white man, I'm surprised more women aren't tweeting the hashtag #KillAllWhiteMen
Scotland may have to leave the EU even if it votes to stay in, David Cameron confirms
Report finds that Britain's wages are the most unequal in Europe
The day that Britain resigned as a global power
Almost a third of school pupils believe 'Muslims are taking over our country', study claims
Gay marriage 'Bert and Ernie' cake bakery found guilty of discrimination in Northern Ireland
iJobs Money & Business
£40-50K: Guru Careers: We are seeking an experienced Software / C# Developer w...
£45,000 - £55,000: Neil Pavier: Are you looking for your next opportunity for ...
£45,000 - £55,000: Sheridan Maine: Are you a newly qualified ACA/ACCA/ACMA qua...
£50,000 - £60,000: Laura Norton: Are you looking for an opportunity within a w...